Namibia Economic Statistics and Indicators

31, Oct 2020, EDT. Welcome to the Namibia economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Namibia › Change country
National or Regional Currency: Namibian Dollar, NAD
Year of data: 2015 › Change year
Number of Indicators Listed: 35
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 2,198,406 ; note: estimates for this country explicitly take into account the effects of excess mortality due to AIDS; this can result in lower life expectancy, higher infant mortality, higher death rates, lower population growth rates, and changes in the distribution of population by age and sex than would otherwise be expected (July 2014 est.)
Area: total: 824,292 sq km ; land: 823,290 sq km ; water: 1,002 sq km
Natural Resources: diamonds, copper, uranium, gold, silver, lead, tin, lithium, cadmium, tungsten, zinc, salt, hydropower, fish ; note: suspected deposits of oil, coal, and iron ore
Capital: name: Windhoek ; geographic coordinates: 22 34 S, 17 05 E ; time difference: UTC+1 (6 hours ahead of Washington, DC, during Standard Time) ; daylight saving time: +1hr, begins first Sunday in September; ends first Sunday in April

The economy is heavily dependent on the extraction and processing of minerals for export. Mining accounts for 11.5% of GDP, but provides more than 50% of foreign exchange earnings. Rich alluvial diamond deposits make Namibia a primary source for gem-quality diamonds. Marine diamond mining is becoming increasingly important as the terrestrial diamond supply has dwindled. Namibia is the world's fourth-largest producer of uranium. It also produces large quantities of zinc and is a small producer of gold and other minerals. The mining and quarrying sectors employs only about 1.8% of the population. Namibia normally imports about 50% of its cereal requirements; in drought years food shortages are a major problem in rural areas. A high per capita GDP, relative to the region, hides one of the world's most unequal income distributions, as shown by Namibia's 59.7 GINI coefficient. The Namibian economy is closely linked to South Africa with the Namibian dollar pegged one-to-one to the South African rand. Namibia receives 30%-40% of its revenues from the Southern African Customs Union (SACU). Volatility in the size of Namibia's annual SACU allotment complicates budget planning. Namibia's economy remains vulnerable to volatility in the price of uranium and other commodities. The rising cost of mining diamonds, increasingly from the sea, has reduced profit margins. Namibian authorities recognize these issues and have emphasized the need to increase higher value raw materials, manufacturing, and services, especially in the logistics and transportation sectors.
More on the Namibia Economy
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GDP (Constant Prices, National Currency) for Namibia in year 2015 is NAD 52.208 Billion.

GDP Growth (Constant Prices, National Currency) for Namibia in year 2015 is 4.499 %.

GDP (Current Prices, National Currency) for Namibia in year 2015 is NAD 163.641 Billion.

GDP (Current Prices, US Dollars) for Namibia in year 2015 is US$ 12.832 Billion.

GDP Deflator for Namibia in year 2015 is 313.441 (Index, Base Year as per country's accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for Namibia in year 2015 is NAD 23,503.43 .

GDP Per Capita (Current Prices, National Currency) for Namibia in year 2015 is NAD 73,669.47 .

GDP Per Capita (Current Prices, US Dollars) for Namibia in year 2015 is US$ 5,776.90 .

GDP (PPP), US Dollars for Namibia in year 2015 is US$ 25.341 Billion.

GDP Per Capita (PPP), US Dollars for Namibia in year 2015 is US$ 11,408.18 .

GDP Share of World Total (PPP) for Namibia in year 2015 is 0.022 %.

Implied PPP Conversion Rate for Namibia in year 2015 is 6.458 .

Investment (% of GDP) for Namibia in year 2015 is 29.414 %.

Gross National Savings (% of GDP) for Namibia in year 2015 is 19.649 %.

Inflation, Average Consumer Prices (Indexed to Year 2000) for Namibia in year 2015 is 112.275 (Index, Base Year 2000 = 100).

Inflation (Average Consumer Price Change %) for Namibia in year 2015 is 3.4 %.

Inflation, End of Year (Indexed to Year 2000) for Namibia in year 2015 is 113.595 (Index, Base Year 2000 = 100).

Inflation (End of Year Change %) for Namibia in year 2015 is 3.5 %.

Import Volume of All Items Including Goods and Services (Percent Change) for Namibia in year 2015 is -4.103 %.

Import Volumes of Goods Only (Percent Change) for Namibia in year 2015 is -4.103 %.

Export Volume of All Items Including Goods and Services (Percent Change) for Namibia in year 2015 is -4.31 %.

Export Volumes of Goods Only (Percent Change) for Namibia in year 2015 is -4.31 %.

Population for Namibia in year 2015 is 2.221 Million .

General government revenue (National Currency) for Namibia in year 2015 is NAD 55.113 Billions.

General government revenue (% of GDP) for Namibia in year 2015 is 33.68 %.

General government total expenditure (National Currency) for Namibia in year 2015 is NAD 64.751 Billions.

General government total expenditure (% of GDP) for Namibia in year 2015 is 39.569 %.

Total Government Net Lending/ Borrowing (National Currency) for Namibia in year 2015 is NAD -9.638 Billions.

Total Government Net Lending/ Borrowing (% of GDP) for Namibia in year 2015 is -5.89 %.

Fiscal Year Gross Domestic Product, Current Prices for Namibia in year 2015 is NAD 163.641 Billions.

Current Account Balance (US Dollars) for Namibia in year 2015 is US$ -1.253 Billion.

Current Account Balance (% GDP) for Namibia in year 2015 is -9.766 %.