Namibia: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Upper Middle Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | Mining accounts for more than half of foreign exchange earnings. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2019): South Africa, China, and Zambia |
| Top Industries Source: CIA World Factbook | Meatpacking; Fish Processing; Dairy Products; Pasta and Beverages |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $23,616,859,677 (2020) |
| GDP Growth Rate (annual %) | -7.984% (2020) |
| GDP Per Capita, PPP (current international) | $9,295 (2020) |
GDP Country Rank 144/197 (2020)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 2.209% (2020) |
| External debt stocks, total (DOD, current US$) | Data unavailable |
| Total tax rate (% of commercial profits) | 20.7% (2019) |
| Real Interest Rate (5 year average %) | 1.797% (2020) |
| Manufacturing, value added (% of GDP) | 11.116% (2020) |
| Current Account Balance (BoP, current US$) | $331,772,164 (2020) |
Labor and Employment [1]
| Labor Force, Total | 942,826 (2020) |
| Employment in Agriculture (% of total employment) | 21.826% (2020) |
| Employment in Industry (% of total employment) | 16.35% (2020) |
| Employment in Services (% of total employment) | 61.823% (2020) |
| Unemployment Rate | 20.35% (2020) |
Trade [1]
| Imports of goods and services (current US$) | $4,569,568,659 (2020) |
| Exports of goods and services (current US$) | $3,544,132,300 (2020) |
| Total Merchandise Trade (% of GDP) | 116.986% (2020) |
| FDI, net inflows (BoP, current US$) | ($176,478,262) (2019) |
| Commercial Service Exports (current US$) | $371,066,927 (2020) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Namibia’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.