Browse a full set of economic indicators

Namibia

Namibia real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.

Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Namibia economic outlook, debt to GDP ratio, international trade performance and population trends.

Basic Information

Government Type: Presidential republic

Capital City: Windhoek

GDP & Economic Information

Macroeconomy & Sovereign Data

Central Bank Bank of Namibia

Currency Namibian dollars (NAD)

International Reserves USD 2.1 billion (2018)

International Monetary Fund (IMF), data retrieved October 2019
Gross Domestic Product – GDP USD 13.8 billion (2018, estimate)

GDP (Purchasing Power Parity) Intl$ 2971 billion (2018, estimate)

GDP Data

Real GDP growth 2014: 6.4%
2015: 6.1%
2016: 0.6%
2017*: -0.9%
2018*: -0.1%

(*Estimate)
GDP per capita – current prices USD 5,726.7 (2018, estimate)

GDP per capita – PPP Intl$ 11,228.8 (2018, estimate)

GDP (PPP) – share of world total 0.02% (2019, estimate)

GDP – composition by sector agriculture: 7.2%
industry: 29.3%
services: 57.7%
(2018 estimate)
Gross domestic expenditure on R&D; (% of GDP) N/A
Inflation 2014: 3.4%
2015: 6.7%
2016: 6.1%
2017*: 4.3%
2018*: 4.8%

(*Estimate)

Inflation & Debt

Inflation 2014: 3.4%
2015: 6.7%
2016: 6.1%
2017*: 4.3%
2018*: 4.8%

(*Estimate)
Government Bond Ratings
Standard & Poor’s: N/A

Moody’s: Ba1

Standard & Poor’s / Moody’s (Updated 2017)
Unemployment rate N/A
Household saving rates N/A
Public debt (General government gross debt as a % of GDP) 2014: 39.9%
2015: 42.6%
2016: 41%
2017*: 45.8%
2018*: 49.2%

(*Estimate)
Public deficit (General government net lending/borrowing as a % of GDP) 2015: -7.9%
2016: -8.6%
2017: -4.7%
2018*: -4.9%
2019*: -5.5%

(*Estimate)
Market value of publicly traded shares N/A
Largest Companies N/A

Import/Export

Exports as percent of GDP (Exports of goods and services) 38.7% (2018)

Shares in world total merchandising export 0.03% (2018)

Shares in world total commercial services export 0.02% (2015)

Total exports USD 4.2 billion (2016 estimate)

Export commodities Diamonds, copper, gold, zinc, lead, uranium; cattle, white fish and mollusks

Total imports USD 6.9 billion (2016 estimate)


Import commodities Foodstuffs; petroleum products and fuel, machinery and equipment, chemicals

Exports – major partners N/A
Imports – major partners N/A

Competitiveness & Trade

Current account balance USD -0.3 billion (2018 estimate)

Current account balance by percentage of GDP -2.1 % (2018 estimate)

FDI inflows 2013: USD 801 million
2014: USD 432 million
2015: USD 1,078 million
FDI Outflows 2013: USD 13 million
2014: USD 58 million
2015: USD -55 million
Value of cross-border M&A, by country of purchaser N/A


United Nations Conference on Trade and Development (UNCTAD) – World Investment Report
Cross-border M&A deals worth over $3 billion completed in 2014 N/A
Cross-border M&A deals worth over $3 billion completed in 2015 N/A
Best countries for doing business Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 108 out of 190 countries (2017)

Subcategories:

Starting a business: 170 out of 190 countries

Enforcing Contracts: 98 out of 190 countries

Registering Property: 174 out of 190 countries

Getting Credit: 62 out of 190 countries

Protecting Minority Investors: 81 out of 190 countries

Trading Across Borders: 127 out of 190 countries

Paying Taxes: 74 out of 190 countries

Dealing with Construction Permits: 67 out of 190 countries

Getting Electricity: 124 out of 190 countries

Resolving Insolvency: 97 out of 190 countries
Global competitiveness ranking
84 out of 138 countries

(2016-2017)
Index of Economic Freedom Ranking: 81 / Score: 61.85 (Moderately free) (2016)

(100=totally free 0=totally repressed)

Population & Geographic Data

Total Area 28,748 sq km


Total Population 1990: 1.4 million
2000: 1.8 million
2010*: 2.1 million
2015*: 2.3 million
2021*: 2.5 million

(*Estimate)
Urban population as % of total population 1960: 17.9%
1980: 25.1%
2000: 32.4%
2018: 50%
Population median age 21.4 years

Population growth rate 1.91% (2018 estimate)

Life expectancy 64.4 years (2018 estimate)

% of population living on less than $3.10 a day 29.6% (last available estimate, 2015)

Inequality of wealth distribution (Gini index) 59.1 (last available estimate, 2015)

Freedom House rating Political Rights: 3

Civil Liberties: 2 (2019)

(1 represents the most free, 7 the least free rating)
Total telephone subscribers as % of population Fixed: 6.9%

Mobile: 112.7% (2018)

(fixed-telephone subscribers and mobile-cellular subscribers)
Internet users as % of total population 51 % (2017)

Language & Religon

Languages Oshiwambo languages 49.7%, Nama/Damara 11%, Kavango languages 10.4%, Afrikaans 9.4% (common language of most of the population), Herero languages 9.2%, Zambezi languages 4.9%, English (official) 2.3%, other African languages 1.5%, other European languages

Literacy Total population: 81.9%
Male: 79.2%
Female: 84.5%
Definition: age 15 and over can read and write (2015 est.)
Religions Christian 80% to 90% (at least 50% Lutheran), indigenous beliefs 10% to 20%

World Rankings

Population 2.5 M
Mercer Cost of living index Windhoek: 204th (2019)

C02 Emissions per capita 1.65 metric tons per capita (2014)

Global Finance Rankings & Awards: Namibia

Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.


Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings

Moody’s

Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000

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