Namibia

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Namibia - In Short.

Overview of Namibia

Various ethnic groups occupied south western Africa prior to Germany establishing a colony over most of the territory in 1884. South Africa occupied the colony, then known as German South West Africa, in 1915 during World War I and administered it as a mandate until after World War II, when it annexed the territory.  In 1966, the Marxist South-West Africa People’s Organization (SWAPO) guerrilla group launched a war of independence for the area that became Namibia, but it was not until 1988 that South Africa agreed to end its administration in accordance with a UN peace plan for the entire region. Namibia gained independence in 1990 and has been governed by SWAPO since, though the party has dropped much of its Marxist ideology. President Hage GEINGOB was elected in 2014 in a landslide victory, replacing Hifikepunye POHAMBA who stepped down after serving two terms. SWAPO retained its parliamentary super majority in the 2014 elections. In 2019 elections, GEINGOB was reelected but by a substantially reduced majority and SWAPO narrowly lost its super majority in parliament. Namibia gained independence in 1990.
Value
Country Full Name
Namibia
Country Code
NAM
Region
Sub-Saharan Africa
Income Group
Upper middle income
Currency Unit
GDP
10619194505
Population
2540916
Land Area
823290
Net National Income Per Capita
3473.078412
GDP per Capita (PPP)
9298.086814

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Namibia - Economic

Economy of Namibia

Namibia’s economy is heavily dependent on the extraction and processing of minerals for export. Mining accounts for about 12.5% 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 increasingly important as the terrestrial diamond supply has dwindled. The rising cost of mining diamonds, especially from the sea, combined with increased diamond production in Russia and China, has reduced profit margins. Namibian authorities have emphasized the need to add value to raw materials, do more in-country manufacturing, and exploit the services market, especially in the logistics and transportation sectors.Namibia is one of the world’s largest producers of uranium. The Chinese-owned Husab uranium mine began producing uranium ore in 2017, and is expected to reach full production in August 2018 and produce 15 million pounds of uranium a year. Namibia also produces large quantities of zinc and is a smaller producer of gold and copper. Namibia’s economy remains vulnerable to world commodity price fluctuations and drought.Namibia normally imports about 50% of its cereal requirements; in drought years, food shortages are problematic in rural areas. A high per capita GDP, relative to the region, obscures one of the world’s most unequal income distributions; the current government has prioritized exploring wealth redistribution schemes while trying to maintain a pro-business environment. GDP growth in 2017 slowed to about 1%, however, due to contractions in both the construction and mining sectors, as well as an ongoing drought. Growth is expected to recover modestly in 2018.A five-year Millennium Challenge Corporation compact ended in September 2014. As an upper middle income country, Namibia is ineligible for a second compact. 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 and global mineral prices complicates budget planning.

Unemployment Rate

Inflation Rate

Namibia - GDP Composition

GDP Composiiton & Value Added of Namibia

Last Updated: Jan, 2021, Updated For 2020.

Namibia - GDP, Value Added

Demographics of Namibia

population density is very low, with the largest clustering found in the extreme north-central area along the border with Angola as shown in this population distribution map
Geographic Location

Southern Africa, bordering the South Atlantic Ocean, between Angola and South Africa

Races

Ovambo 50%, Kavangos 9%, Herero 7%, Damara 7%, mixed European and African ancestry 6.5%, European 6%, Nama 5%, Caprivian 4%, San 3%, Baster 2%, Tswana .5%

Languages

Oshiwambo languages 49.7%, Nama/Damara 11%, Kavango languages 10.4%, Afrikaans 9.4% (also a common language), Herero languages 9.2%, Zambezi languages 4.9%, English (official) 2.3%, other African languages 1.5%, other European languages 0.7%, other 1% (2016 est.)note: Namibia has 13 recognized national languages, including 10 indigenous African languages and 3 European languages

Religion

Christian 97.5%, other 0.6% (includes Muslim, Baha'i, Jewish, Buddhist), unaffiliated 1.9% (2020 est.)

Dependency & Expectancy of Namibia

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

See Other Countrie Data

We work with data offices across the world to supply you with comprehensive data across internet usage, economic, policy, trade, and digital channels from 216 countries.

Namibia - Social Media Briefing

Namibia - Social Media & Social Commerce

No data was found
No data was found
No data was found
No data was found
No data was found
No data was found

Politics & Policies of Namibia

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

ACP, AfDB, AU, C, CD, CPLP (associate observer), FAO, G-77, IAEA, IBRD, ICAO, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, NAM, OPCW, SACU, SADC, UN, UNAMID, UNCTAD, UNESCO, UNHCR, UNIDO, UNISFA, UNMIL, UNMISS, UNOCI, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO

Import of Namibia

Export of Namibia

Import Destination

Export Destination