Key Market Indicators
Namibia's truck export market is projected to decline slightly over the next five years. According to recent data, the country's truck exports are expected to decrease from approximately $28.3 million in 2023 to about $27.9 million by 2028, reflecting an average annual decline of 0.2%. The downward trend in Namibia's truck supply has been ongoing since 2005, with an average yearly decrease of 2.3%. In 2023, Namibia ranked 50th globally in truck exports, with Bahrain surpassing it at the same export value of $28.3 million. Leading the global rankings were the United States, Germany, and France, holding the second, third, and fourth positions, respectively. On the import front, Namibia's truck market shows a contrasting trend. Truck imports are forecasted to grow, reaching nearly $262 million by 2028, up from around $245 million in 2023. This marks an average annual growth rate of 1.1%. Since 2005, Namibia's demand for imported trucks has increased by an average of 2.5% per year.
