Background
The agriculture, forestry, and fishing sector were not spared from the pressure of the market distortions that resulted from price volatility and value chain disruptions particularly caused by the transportation component. High energy demands that have been causing fuel, oil, and energy prices to increase have negatively affected the agriculture sector. The agriculture, forestry, and fishing sector share of GDP for Q3 of 2022 declined to 6.4% from 12.9% recorded in Q2 of 2022. Livestock accounted for 3.4% of GDP, followed by the fishing subsector (2.3%), and crop subsector (0.4%). The forestry subsector was the least contributor recording 0.3%. Export earnings for agriculture, forestry, and fishing products amounted to N$ 3.7 billion for Q3 of 2022 while the import bill stood at N$ 1.3 billion. Fisheries products continue to account for the highest foreign earnings at N$ 2.7 billion followed by agriculture commodities valued at N$ 606 million.
Analysis
Fisheries Products
The fishing sub-sector is one of the important sectors in the economy as it is an important source of foreign earnings for the country. During the period under review, hake was the top exported product with earnings valued at N$1.2 billion, followed by tilapia (N$ 1.6 million), and salmon (N$ 0.5 million). The top three export markets were Spain (52.1%), France (12.7%), and Italy (9.6%). In terms of import, tilapia was the main imported product valued to the tune of N$1.5 million. South Africa accounted for 38% of fish fillets and other fish meat imports.
Agriculture Commodities
The trade of vegetables dominated the trade flow of agricultural commodities. During the quarter under review, the value of exported vegetables increased from N$ 101.1 million in Q3 of 2021 to N$ 151.5 million for Q3 of 2022. Tomatoes and onions were the most exported vegetable types, recording values of N$ 71.3 million and N$ 37.6 million, respectively. South Africa claimed the highest share of 76.2%, followed by Angola (20.3 %) in terms of the export market.
Live Animals
International demand for Namibian live animals stood at N$ 400.2 million in Q3 of 2022, a decline when compared to N$ 440.3 million recorded in Q3 of 2021. The decrease in exports came as a result of the border closure for livestock exports to South Africa. Cattle, sheep, and goats contributed the most value of export of live animals in Q3 of 2022, recording N$ 258.0 million, N$ 100.4 million, and N$ 28.5, respectively. The relatively lower cost of farming encourages the export of Namibian live animals to feedlots in South Africa.
Figure 1: Agriculture, forestry, and fishing sector % share to GDP, (2021Q3 – 2022Q3)
Figure 2: Top export of live animals in (N$) million, (2021Q3 – 2022Q3)
