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Namibia

Headline economic indicators for Namibia, with the most recent official readings.

Prices

Prices — Namibia
Indicator Value Change
Inflation rate · 3.5% -0.73 (-17.2%)
Consumer price index · 202.7 +6.88 (+3.5%)
GDP deflator inflation · 6.1% +1.76 (+40.9%)

GDP

GDP — Namibia
Indicator Value Change
GDP growth rate · 1.7% -2.05 (-54.2%)
GDP per capita · 4,875.93 +374.08 (+8.3%)
GDP per capita, long-run history · 7,979 +183.27 (+2.4%)
GDP · 15,080,340,653.53 +1,439,149,970 (+10.6%)
GDP, PPP · 37,069,626,686 +1,623,396,175 (+4.6%)
GDP per capita, PPP · 11,986 +287.80 (+2.5%)
GDP per capita growth · -0.3% -1.81 (-122.4%)
GNI per capita · 4,340 +50.00 (+1.2%)
Agriculture to GDP · 7.0% -0.17 (-2.3%)
Industry to GDP · 28.9% -0.58 (-2.0%)
Manufacturing to GDP · 10.0% -0.27 (-2.7%)
Services to GDP · 55.0% +0.92 (+1.7%)
Household consumption to GDP · 78.3% +0.67 (+0.9%)
Gross capital formation to GDP · 18.7% -7.34 (-28.2%)
Gross savings to GDP · 9.5% -2.10 (-18.2%)

Labour

Labour — Namibia
Indicator Value Change
Unemployment rate · 19.3% +0.13 (+0.7%)
Labour force participation rate · 58.8% -0.03 (-0.1%)
Female labour force participation rate · 54.9% +0.01 (+0.0%)
Youth unemployment rate · 38.1% +0.81 (+2.2%)
Employment to population ratio · 47.5% -0.11 (-0.2%)
Employment in agriculture · 22.3% -0.30 (-1.3%)
Employment in industry · 16.5% +0.08 (+0.5%)
Employment in services · 61.1% +0.23 (+0.4%)

Money

Money — Namibia
Indicator Value Change
Real interest rate · 6.4% +3.38 (+112.8%)
Broad money to GDP · 72.6% +1.07 (+1.5%)
Private sector credit to GDP · 55.1% -1.01 (-1.8%)
Lending rate · 11.0% +0.03 (+0.3%)
Bank deposit rate · 5.4% -0.02 (-0.3%)
Stock market capitalization to GDP · 18.2% -0.83 (-4.4%)
Bank nonperforming loans · 4.3% -1.24 (-22.4%)
Official exchange rate · 17.89 -0.44 (-2.4%)

Trade

Trade — Namibia
Indicator Value Change
Current account to GDP · -13.4% +1.62 (+10.8%)
Exports to GDP · 44.7% +3.61 (+8.8%)
Imports to GDP · 63.9% -3.03 (-4.5%)
Trade to GDP · 108.6% +0.58 (+0.5%)
Exports of goods and services · 6,737,407,578.92 +1,135,626,527 (+20.3%)
Imports of goods and services · 9,636,901,881.4 +506,034,465 (+5.5%)
Trade balance, goods and services (annual) · -3,283,073,505.59 -562,590,741 (-20.7%)
Current account balance (annual) · -1,829,686,535.99 +52,243,600 (+2.8%)
Foreign direct investment to GDP · 9.6% -4.59 (-32.4%)
Remittances received to GDP · 0.7% +0.04 (+5.6%)
Total reserves, including gold · 3,104,525,016.07 -250,998,999 (-7.5%)
Reserves in months of imports · 4.0 +0.23 (+6.2%)

Government

Government — Namibia
Indicator Value Change
Government debt to GDP · 4.7% +2.10 (+81.5%)
Government revenue to GDP · 35.6% +0.25 (+0.7%)
Government expense to GDP · 36.2% +0.45 (+1.2%)
Tax revenue to GDP · 33.9% +1.21 (+3.7%)
Government budget balance to GDP · -4.7% -2.27 (-92.1%)
Government consumption to GDP · 22.3% +0.03 (+0.1%)
Education spending to GDP · 9.1% -0.31 (-3.3%)
Health spending to GDP · 9.5% -0.14 (-1.4%)

Demography

Demography — Namibia
Indicator Value Change
Population · 3,092,816 +62,685 (+2.1%)
Population, long-run history · 2,739 +39.34 (+1.5%)
Population growth · 2.0% -0.19 (-8.5%)
Life expectancy · 67.5 +0.13 (+0.2%)
Fertility rate · 3.21 -0.00 (-0.0%)
Birth rate · 25.9 +0.00 (+0.0%)
Death rate · 6.2 +0.01 (+0.1%)
Urban population share · 50.9% +0.46 (+0.9%)
Population aged 65 and over · 3.8% +0.12 (+3.3%)
Under-five mortality rate · 39.5 -1.60 (-3.9%)
Population density · 3.7 +0.08 (+2.3%)
Net migration · 1,866 -2,345 (-55.7%)
Gini index · 59.1 -1.90 (-3.1%)

Source: Bolt, J. and van Zanden, J.L. (2024), Maddison style estimates of the evolution of the world economy: A new 2023 update, Journal of Economic Surveys, 1-41, DOI 10.1111/joes.12618. Licensed under CC BY 4.0. The original sources are listed on each page.

All data sources

Original sources of these estimates

GDP pc: 2008 - 2022: Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics

No separate list is published for Namibia; the database as a whole is cited above.

Economies nearby

Comparable readings from neighbouring economies.