Namibia’s economy is indebted to the strong mining industry.
The mining of diamonds, uranium, and other minerals has enabled Namibia to remain one of Africa’s strongest economies despite protracted periods of drought, floods, political uncertainty, and an often unfavorable investment climate.
At present, its economic growth remains somewhat modest by past standards but it is still counted as one of the countries with the fastest-growing economies in the world. The majority of Namibians are employed in agriculture or diamond mining industries that continue to play an important role in driving this GDP growth. This means that any new business entering this market should consider taking advantage of either agricultural products or gemstones as a way of accessing a truly lucrative market for the sale of Namibian products.
In the absence of a formal Namibian Stock Exchange, international investors purchase Namibian dollar-denominated bonds from the Ministry of Finance. The most common bond on offer is the 13 year ‘Global Namibia Dollar’ which pays an annual coupon rate equivalent to 7.5% per annum. In December 2010, over 82 million USD worth of new bond sales were undertaken as international demand for Namibian debt remains very strong despite its recent maturation and existing high-yielding nature.
Namibia’s economy benefits enormously from a range of lucrative trade agreements with South Africa – these include a Free Trade Agreement that was signed in 1993 and a revised protocol that entered into force in 1999.
Here you can find the list of top-selling products in Namibia online 2022
Table of Contents
1. Car Accessories
Its is the most selling product in Namibia online, In 2015 Namibia imported about 41.7 million USD worth of cars, with about 12% of this being agricultural vehicles. In order to provide a more encouraging environment for Namibian entrepreneurs, the Government has been seeking to reduce the price of key essential inputs such as transport and energy.
2. Consumer Electronics
Consumer electronics also comes in the list of top-selling products in Namibia online. In 2015, Namibia imported about 30.9 million USD worth of consumer electronics, with South Africa and China being the key suppliers.
3. Clothing
In 2012, Namibia imported about 14.9 million USD worth of clothing and footwear, with South Africa being the key supplier. Currently, there is a myriad of incentives in place to encourage foreign investment in this sector – these include a series of income tax holidays that allow investors to benefit from a 0% marginal rate for the first 10 years of their operations.
4. Handmade Products
Handmade products also come on the list of top-selling products Namibian online. The Namibia craft industry is well known for its vibrant and innovative approach to design, production, and marketing. This niche market has been developed by small-scale individual producers as an opportunity for economic empowerment as a way of generating income from home without having to leave the country to seek work.
5. Mobile Phone Accessories
Mobile accessories are also the most sold products in Namibia online, Mobile phone accessories are various electronic and non-electronic gadgets that are specifically designed to enhance the functionality of mobile phones. These products include mobile covers, chargers, Bluetooth devices, cables, and memory cards.
6. Sports Equipment
Sports equipment is also the most selling product in Namibia online. In the last few years, the sports equipment industry has grown exponentially. Namibian athletes have enjoyed many successes on the world stage and local demand to follow and support these champions has increased substantially. This has led to a rapid expansion of the market for sports gear and an increase in employment opportunities in this sector.
7. Cosmetics and Personal Care
Cosmetic and personal care also comes in the list of top-selling products in Namibia online. In 2014, Namibia imported about 21.3 million USD worth of cosmetics and personal care, with Germany being the key supplier.
8. Food and Beverages
In 2016, Namibia imported about 32.7 million USD worth of food and beverages, with South Africa being the key supplier. In 2012 it was reported that the agriculture sector is one of the most vibrant sectors in Namibia – a situation that appears to have been maintained for a number of years now.
9. Tires and Rims
Tires and rims also come on the list of most selling products in Namibia online. In 2013, Namibia imported about 3.1 million USD worth of tires and rims with Germany being the key supplier
10. Furniture
Furniture also comes in the list of top-selling products in Namibia online, In 2014, Namibia imported about 5.4 million USD worth of furniture with Germany being the key supplier. Namibia is well known for its large and extremely high-quality stocks of gemstones which include diamonds and other precious stones such as aquamarine, tourmaline, feldspar, and others.
Conclusion
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
