SOUTHERN AFRICAN CUSTOMS UNION OPENS STATS CENTRE IN WINDHOEK

The Southern African Customs Union (SACU), one of the oldest Customs union in the world, now has a one-stop trade statistical database located in the Naminian capital, Windhoek.

The database, launched here Tuesday, provides data on all SACU member States on matters such as merchandise trade (imports and exports), annual Gross Domestic Product (GDP) growth rates, consumer price indices and exchange rates, among others.

The union's member states are Botswana, Namibia, Lesotho, South Africa and Swaziland and it represents 75 per cent of total gross domestic product (GDP) of the 15-nation Southern African Development Community (SADC).

Speaking at the launch of the database, SACU Executive Secretary Paulina Elago explained that the portal will serve as a tool to monitor the performance of SACU member States in achieving objectives of economic development, industrialisation and competitiveness.

It will also inform the process of policy planning and development, as well as trade negotiations, among others, she added.

"The availability of reliable statics in general is of great importance given that such statistics will generally serve various purposes, including policy planning, research and decision-making," Elago stressed.

Source: NAM NEWS NETWORK