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) |
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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) |
Namibia
Inflation & Debt
Inflation |
2014: 3.4% 2015: 6.7% 2016: 6.1% 2017*: 4.3% 2018*: 4.8% (*Estimate) |
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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 |
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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