In a remarkable turn of events, Namibia’s fishing industry has experienced a tidal wave of growth during the second quarter of 2023, with fish exports reaching an impressive N$4.1 billion. This marks a significant uptick from the N$3.2 billion recorded during the same period in the previous year, showcasing the industry’s resilience and potential for economic prosperity.
Breaking Down the Export Success
Namibia Statistics Agency Statistician General & CEO, Alex Shimuafeni, provided insights into this remarkable surge. Spain emerged as the top destination for fish and aquatic exports, commanding a substantial 36.6% share. The bulk of this export comprised frozen fillet of hake, reflecting the global demand for Namibian seafood excellence. Following closely was the Democratic Republic of Congo, securing the second spot with a 15.4% share, predominantly in frozen mackerel. Zambia clinched the third position with a 14.3% share, primarily consisting of horse mackerel—a testament to the diverse range of products contributing to Namibia’s export prowess.
Imports Witness a Dip
While exports soared, the import scene painted a different picture. Fish and aquatic imports during the second quarter of 2023 amounted to N$173.3 million, signaling a decline from the N$274.1 million recorded in the same period of 2022. The majority of these imports hailed from the Falkland Islands, constituting an impressive 65.8% share. Frozen cuttlefish and squid were the primary imports from this source. South Africa followed with a 20.2% share, mainly importing hake, while Spain secured 4.5% of the share, primarily in the form of sardines.
Surplus and Stability
Despite the import decline, Namibia’s fishing industry achieved a surplus of N$4 billion for fish and aquatic products during the period under review. This reflects a substantial improvement compared to the N$2.9 billion recorded in the previous quarter of 2022, showcasing the industry’s ability to navigate challenges and thrive in a competitive global market.
Insights from the Statistical Bulletin
These insights are drawn from the Agriculture and Fishing Indicators Statistical Bulletin for the first quarter of 2023. The bulletin also notes that while total landings of quota species for the second quarter of 2023 experienced a 24.7% decrease, specific species like monk saw an increase of 14.5% in landings. Horse mackerel led the pack in terms of landings with 44,548 metric tonnes, followed by Hake with 33,816 metric tonnes, and Monk with 1,825 metric tonnes.
Conclusion: A Thriving Industry
Namibia’s fishing industry is not only weathering the waves but surging ahead, contributing significantly to the nation’s economic prosperity. With soaring exports, reduced imports, and a burgeoning surplus, it is evident that Namibia’s aquatic bounty is highly sought after on the global stage. As the industry continues to evolve and adapt, it holds the promise of further growth and stability in the years to come.
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