Namibia sent more money abroad than it received in international remittances during the third quarter of 2025, resulting in a net outflow of N$151 million.
According to the Bank of Namibia Quarterly Bulletin, the outcome was driven by a sharp increase in payments abroad, which rose to N$800 million.
The increase was largely attributed to higher personal remittances and wages paid to non-resident employees, particularly in the fishing and mining sectors.
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“Namibia registered net outflows of international remittances during the third quarter of 2025. Net remittances declined by N$262 million on a yearly basis and by N$156 million quarter on quarter, resulting in a net outflow of N$151 million,” the report said.
Money flowing into the country also increased compared with the same period last year, reaching N$650 million. This was supported by personal transfers and capital transfers, including inheritances.
However, inflows declined compared with the previous quarter, mainly due to lower wages received by Namibians working abroad, particularly in the mining and transport sectors. Overall, the increase in inflows was insufficient to offset the rise in outflows.
The capital account also weakened during the quarter, as funds received for long-term investment declined. Capital transfer inflows fell to N$509 million, largely due to reduced investment-related funding directed towards non-governmental organisations.
As a result, Namibia relied more heavily on borrowing to cover its external financing gap. Net borrowing increased to N$5.3 billion during the quarter, reflecting higher spending on imports and external payments than earnings from exports and income.
“The decline was due to lower capital transfers directed towards fixed investment extended to non-governmental organisations during the third quarter of 2025,” the report noted.
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In the financial account, Namibia received less money from the rest of the world than in the same period last year. Net inflows declined to N$3.8 billion, down from N$7.0 billion a year earlier, mainly due to foreign investors withdrawing from portfolio investments. On a quarter-on-quarter basis, inflows improved slightly, supported by increased financial transactions by banks and other financial institutions.
This article was first published here in partnership with The Brief