Namibia’s seafood export sector closed 2025 on a stronger footing, generating N$2.9 billion in fish and aquatic product export earnings in the fourth quarter — a 9.8% improvement on the N$2.7 billion recorded in the same period of 2024 — though a steep decline in total fish landings raises questions about the sustainability of the uptick.
According to the Namibia Statistics Agency, Spain retained its position as the dominant export destination, absorbing 32.3% of total fish exports during the quarter, with frozen hake fillets the primary product shipped to European buyers. Zambia ranked second at 26.7%, predominantly importing frozen jack mackerel, while South Africa accounted for 9.2% of exports, mainly receiving horse mackerel. The geographic spread of Namibia’s export markets reflects a consistent pattern across recent quarters — European demand anchors the high-value hake trade, while regional African markets absorb the bulk of lower-priced pelagic species.
The import side of the ledger showed sharper movement. The country’s fish import bill climbed to N$136.9 million in the quarter, a 36.3% increase from N$100.4 million in the corresponding period of 2024. South Africa supplied 50.1% of those imports, primarily hake, followed by Spain at 21.7% and the Falkland Islands at 10.1%, with the latter two markets supplying hake, cuttlefish and squid.
The improvement in export earnings came despite a significant contraction in raw fishing volumes. Total landings of quota species fell 20.8% to 53,392 metric tonnes in the fourth quarter, down from 67,382 metric tonnes in the same period a year earlier. Horse mackerel accounted for the largest share at 30,896 metric tonnes, followed by hake at 18,436 metric tonnes and crab at 1,961 metric tonnes. The divergence between rising export values and falling volumes points to a combination of higher product prices and an improved product mix rather than an expansion in catch. The same dynamic played out in the third quarter of 2025, when export earnings reached USD 251 million despite lower landings — suggesting a structural shift in how Namibia is monetising its marine resources.
The broader industry context matters here. Namibia is the African continent’s second-largest exporter of fish and seafood products, with the sector serving as a significant contributor to food security, job creation and foreign currency earnings. Fish exports account for approximately 12.5% of the country’s total exports and contribute around 5.7% of GDP, making the fishing industry one of Namibia’s most critical economic pillars, second only to mining as a foreign currency earner. The falling landings trend, if sustained, will test both the industry’s capacity to maintain revenue momentum through price realisation and the government’s ability to manage quota allocations in a way that protects long-term stock viability. Fishing companies have anticipated that smaller catches would be partially offset by sustained export demand and higher prices, while demand for Namibian horse mackerel in southern African markets is expected to remain firm and European appetite for Cape hake is supported by ongoing supply constraints.
This article was first published here in partnership with The Brief