Electricity producer prices reduce in 1Q ‘23

Local production averaged 166 330 MWh
The producer price index measures the average changes in the prices of goods and services received by domestic producers for the output which is sold on the domestic and export market.
Staff Reporter
  • 10 Months Ago
For the first quarter (1Q) of 202, the producer prices index for electric power generation, transmission and distribution slowed to 110.2 basis points as opposed to 111.0 basis points registered in the same quarter of 2022, according to the Namibia Statistics Agency (NSA).

This translated in a deflation of 0.8% year-on-year in the first quarter of 2023 compared to an increase of 3.4% recorded in the same quarter of 2022.

The producer price index measures the average changes in the prices of goods and services received by domestic producers for the output which is sold on the domestic market as well as on export market.

According to NSA’s electricity sectoral report, local electricity production averaged 166 330 MWh in the first quarter of 2023, an increase when compared an average of 99 222 MWh recorded in the corresponding period of 2022.

During the period under review, 17 081 MWh of electricity was exported, compared to 13 802 MWh recorded in the first quarter of 2022.

Mining

During the first quarter of 2023, the producer price index for mining and quarrying slowed to 125.8 basis points, down from 128.5 basis points recorded in the first quarter of 2022 translating into an annual deflation of 2.1% compared to an increase of 15.7% recorded during the corresponding quarter of 2022. The index for mining of uranium and thorium ores increased to 89.0 basis points in the first quarter of 2023 compared to 88.0 basis points recorded during the same period a year earlier, resulting in an annual inflation of 1.2%.

The index for mining of copper, lead, zinc, and gold recorded a growth of 4.8%, up from 185.2 basis points recorded in quarter one of 2022 to 194.1 basis points registered in the quarter under review.

The index for the extraction of diamonds, which is a significant economic activity in Namibia’s mining sector increased to 130.0 basis points from 124.1 basis points recorded during the same quarter a year ago, resulting in a year on-year inflation rate of 4.8%.