Economy of Namibia information

Economy of Namibia
Currency	Namibian dollar (NAD); South African rand (ZAR);
Fixed exchange rates	1 NAD = 1 ZAR
Fiscal year	1 April – 31 March
Trade organisations	AU, AfCFTA, WTO, SADC, SACU
Country group	Developing/Emerging; Upper-middle income economy;
Statistics
Population	3,022,401 (2023)
GDP	N$227,8 billion, +10.8% (nominal, 2023); N$151,4 billion, +4.2% (real [constant 2015 prices], 2023);
GDP per capita	N$75,381 (nominal, 2023);
GDP by sector	Primary sector: 20.2%; Secondary sector: 17.8%; Tertiary sector: 54.2%; (2023, excludes taxes on products);
Inflation (CPI)	5.9% (2023 Average Annual Inflation Rate)
Gini coefficient	59.1 high (2015, World Bank)
Human Development Index	0.610 medium (2021) (139th); 0.399 low IHDI (2021);
Labour force	1.09 million (2018)*;
Unemployment	33.4% (2018)
Main industries	meatpacking, fish processing, dairy products, pasta, beverages; mining (diamonds, lead, zinc, tin, silver, tungsten, uranium, copper)
External
Exports	N$97.4 billion (2022)
Export goods	diamonds, copper, gold, zinc, lead, uranium; cattle, white fish and mollusks
Main export partners	Sep 2023 Exports South Africa 20.6%; Botswana 19.2%; China 9.8%; Zambia 8.1%; United Arab Emirates 6.7%; Canada 5.3%; ;
Imports	N$129.0 billion (2022)
Import goods	petroleum oils; chemicals, vehicles, civil engineering & contractors equipment
Main import partners	Sep 2023 Imports South Africa 40.2% United Arab Emirates 12.3% China 7.8% India 7.6% United States 4.1%
FDI stock	N$147,520 billion inflow stock as at Jun 2023;
Current account	−N$2.498 billion (Jun 2023)
Public finances
Government debt	62.5% of GDP (2023/24)
Revenues	N$81.069 billion (2023/24)
Expenses	N$76.960 billion (2022/23)
Foreign reserves	N$53.752 billion (30 September 2023)
	Main data source: CIA World Fact Book ; All values, unless otherwise stated, are in US dollars.

The economy of Namibia has a modern market sector, which produces most of the country's wealth, and a traditional subsistence sector. Although the majority of the population engages in subsistence agriculture and herding, Namibia has more than 200,000 skilled workers and a considerable number of well-trained professionals and managerials.^[9]

^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
^ "Population, total". Cirrus Data. Retrieved 9 November 2023.
^ ^a ^b ^c ^d ^e ^f ^g ^h ⁱ ^j ^k ^l ^m ⁿ ^o ^p ^q ^r ^s ^t "Cirrus Data, October 2023". Cirrus Data. Retrieved 9 November 2023.
^ "GINI index (World Bank estimate)". data.worldbank.org. World Bank. Retrieved 28 March 2019.
^ "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 23 November 2022.
^ "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 23 November 2022.
^ "Labour force, total". Cirrus Data. Retrieved 9 November 2023.
^ Cite error: The named reference USDoS was invoked but never defined (see the help page).

[1] "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.

[2] "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.

[3] "Population, total". Cirrus Data. Retrieved 9 November 2023.

[Cirrus_Data-4] ^ ^a ^b ^c ^d ^e ^f ^g ^h ⁱ ^j ^k ^l ^m ⁿ ^o ^p ^q ^r ^s ^t "Cirrus Data, October 2023". Cirrus Data. Retrieved 9 November 2023.

[5] "GINI index (World Bank estimate)". data.worldbank.org. World Bank. Retrieved 28 March 2019.

[6] "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 23 November 2022.

[7] "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 23 November 2022.

[8] "Labour force, total". Cirrus Data. Retrieved 9 November 2023.

[USDoS-9] Cite error: The named reference USDoS was invoked but never defined (see the help page).

Economy of Namibia information

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Economy of Namibia

Namibia

Cost of living in Namibia

Mining in Namibia

Taxation in Namibia

Standard Bank Namibia

History of Namibia

Bank of Namibia

Climate change in Namibia

Poverty in Namibia

List of banks in Namibia

Uranium mining in Namibia

Seal hunting in Namibia

University of Namibia

Land reform in Namibia

Economy of India

List of Namibian regions by Human Development Index

Namibia Economic Policy Research Unit

Foreign relations of Namibia

Statistics
Currency	Namibian dollar (NAD) South African rand (ZAR)
Fixed exchange rates	1 NAD = 1 ZAR
Fiscal year	1 April – 31 March
Trade organisations	AU, AfCFTA, WTO, SADC, SACU
Country group	Developing/Emerging^[1] Upper-middle income economy^[2]
Population	3,022,401 (2023)^[3]
GDP	N$227,8 billion, +10.8% (nominal, 2023)^[4] N$151,4 billion, +4.2% (real [constant 2015 prices], 2023)^[4]
GDP per capita	N$75,381 (nominal, 2023)^[4]
GDP by sector	Primary sector: 20.2% Secondary sector: 17.8% Tertiary sector: 54.2% (2023, excludes taxes on products)^[4]
Inflation (CPI)	5.9% (2023 Average Annual Inflation Rate)^[4]
Gini coefficient	59.1 high (2015, World Bank)^[5]
Human Development Index	0.610 medium (2021)^[6] (139th) 0.399 low IHDI (2021)^[7]
Labour force	1.09 million (2018)^[8]*
Unemployment	33.4% (2018)^[4]
Main industries	meatpacking, fish processing, dairy products, pasta, beverages; mining (diamonds, lead, zinc, tin, silver, tungsten, uranium, copper)
External
Exports	N$97.4 billion (2022)^[4]
Export goods	diamonds, copper, gold, zinc, lead, uranium; cattle, white fish and mollusks
Main export partners	Sep 2023 Exports South Africa 20.6% Botswana 19.2% China 9.8% Zambia 8.1% United Arab Emirates 6.7% Canada 5.3% ^[4]
Imports	N$129.0 billion (2022)^[4]
Import goods	petroleum oils; chemicals, vehicles, civil engineering & contractors equipment
Main import partners	Sep 2023 Imports South Africa 40.2%^[4] United Arab Emirates 12.3% ^[4] China 7.8% ^[4] India 7.6% ^[4] United States 4.1% ^[4]
FDI stock	N$147,520 billion inflow stock as at Jun 2023^[4]
Current account	−N$2.498 billion (Jun 2023)^[4]
Public finances
Government debt	62.5% of GDP (2023/24)^[4]
Revenues	N$81.069 billion (2023/24)^[4]
Expenses	N$76.960 billion (2022/23)^[4]
Foreign reserves	N$53.752 billion (30 September 2023)^[4]
Main data source: *CIA World Fact Book* All values, unless otherwise stated, are in US dollars.