Namibia records profits in agricultural sector – NSA
The Namibian Statistics Agency (NSA) said that the agricultural sector recorded a growth of 3.9% in the third quarter of 2021, mainly due to the agriculture and forestry sub-sectors which increased by 5, 3% and 12.0%, respectively.
The fishing sector also recorded an increase of 1.9% in real value.
This was revealed by NSA General Statistician Alex Shimuafeni when releasing the third release of the Quarterly Agricultural Statistical Bulletin for 2021 last Friday in Ongwediva.
The newsletter presents an overview of the agriculture, forestry and fisheries sectors in Namibia covering the period from July to September. It illustrates the short-term performance of the sectors by examining the structure of international merchandise trade, auction prices and the evolution of the food inflation rate on a quarterly basis. It also assists users, analysts and researchers in planning and decision-making, as well as performing in-depth analyses.
Shimuafeni said the value added for the agriculture, forestry and fisheries sectors for the third quarter of 2021 was N$3.4 billion in nominal terms (7.6% of GDP).
He added that Namibia’s export earnings from products in the agriculture, forestry and fisheries sectors stood at N$3.7 billion, while the import bill stood at N$3.7 billion. to N$1.0 billion.
The sectors in 2021 recorded an increase in real value added of 3.9% against an 11.0% contraction recorded in 2020, he said.
“Fishing products accounted for the highest earnings in terms of foreign revenue, recording N$2.8 billion, while agricultural products brought in revenue of N$564.5 million.”
Forestry products topped the list with an import bill of N$643.2 million, while food price inflation was lower than other products in the price index basket at consumption, Shimuafeni added.
On top of that, Namibia’s export earnings from agriculture, forestry and fisheries sector commodities for 2021 increased to N$3.7 billion from N$3.2 billion. Namibian dollars recorded in 2020.
“Similarly, the import bill also increased to N$1,033.7 million in 2021 from N$977.7 million recorded in the corresponding quarter of 2020.”
Shimuafeni said cereal imports were valued at N$228.1 million in the quarter under review, compared to N$171.7 million recorded in 2020.
“Wheat, maize and rice were the most imported cereals, accounting for N$145.5 million, N$65.1 million and N$8.4 million respectively. Oats and sorghum followed, registering N$7.6 million and N$0.9 million respectively.
The import bill for agricultural products was N$228.1 million while export earnings were N$564.5 million.
“This implies that Namibia was a net exporter of agricultural products.”
Shimuafeni said food prices continue to rise monthly, rising 5.7% from 6.8% recorded in the corresponding quarter of 2020.
“The inflation rate for all items increased by 3.7% compared to 2.3% recorded in 2020. This indicates that food prices continue to rise at a faster rate than other products in the food basket. consumption.”
NSA economic statistics chief Abel Sindano noted that food prices are not only rising as the holiday season approaches, but throughout the year.