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Economy of Namibia. Statistics, Data and Indicators

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Namibia
55 Credit rank #52
N/A Quality of life #
59 Corruption rank#46
104 Ease of doing business#100
Namibia


Namibia Major Economic Indicators

Indicator Data Period
GDP Value 12.61 USD Billion 2022
GDP Annual Growth Rate 3.7 % 2Q/23
GDP Growth Rate 0.36 % 2Q/23
GDP per capita 4358 USD 2022
Inflation Rate YoY 5.4 % Sep/23
Interest Rate 7.75 % Sep/23
Unemployment Rate 20.8 % 2022
Balance of Trade -6496 NAD Million | -0.342 B USD 2Q/23
Current Account -2498 NAD Million | -0.131 B USD 2Q/23
Foreign Exchange Reserves 55662 NAD Million | 2.926 B USD Aug/23
Government Debt 124347 NAD Million | 6.537 B USD 2021


GDP Indicators

Indicator Data Period
GDP Value 12.61 USD Billion 2022
GDP Annual Growth Rate 3.7 % 2Q/23
GDP Growth Rate 0.36 % 2Q/23
GDP per capita 4358 USD 2022
Gross National Product 200331 NAD Million | 10.532 USD Billion 2022
GDP Constant Prices 38778 NAD Million | 2.039 B USD 2Q/23
GDP per capita PPP 9490 USD 2022
GDP From Agriculture  1906 USD Million | 1.906 B USD 2Q/23
GDP From Construction  291 USD Million | 0.291 B USD 2Q/23
GDP From Manufacturing  4085 USD Million | 4.085 B USD 2Q/23
GDP From Mining  6619 USD Million | 6.619 B USD 2Q/23
GDP From Public Administration  3865 USD Million | 3.865 B USD 2Q/23
GDP From Services  3591 USD Million | 3.591 B USD 2Q/23
GDP From Transport  1007 USD Million | 1.007 B USD 2Q/23
GDP From Utilities  964 USD Million | 0.964 B USD 2Q/23


Budget Indicators

Indicator Data Period
Government Debt to GDP 68.9 % 2022
Government Spending 40851 NAD Million | 2.148 USD Billion 2022
Government Debt 124347 NAD Million | 6.537 USD Billion 2021
Government Budget to GDP -5.2 % 2022
Military Expenditure 369 USD Million | 0.369 B USD 2022


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 165 index points Sep/23
Export Prices 138 Index Points 2022
Food Inflation 9.8 % Sep/23
GDP Deflator 143 Index Points 2022
Import Prices 112 Index Points 2022
Inflation Rate YoY 5.4 % Sep/23
Inflation Rate Mom 0.8 % Sep/23
CPI Housing Utilities 142 Index Points Sep/23
CPI Transportation 181 Index Points Sep/23


Trade Indicators

Indicator Data Period
Current Account to GDP -12.3 % 2022
Balance of Trade -6496 NAD Million | -0.342 USD Billion 2Q/23
Capital Flows -3773 NAD Million | -0.198 USD Billion 2Q/23
Current Account -2498 NAD Million | -0.131 USD Billion 2Q/23
Exports 19487 NAD Million | 1.024 USD Billion 2Q/23
External Debt 32502 NAD Million | 1.709 B USD 2021
Foreign Exchange Reserves 55662 NAD Million | 2.926 USD Billion Aug/23
Imports 25982 NAD Million | 1.366 USD Billion 2Q/23
Terms of Trade  123 Index Points 2022


Money Indicators

Indicator Data Period
Interest Rate 7.75 % Sep/23
Money Supply M0 9494 NAD Million | 0.499 B USD Aug/23
Money Supply M1 79590 NAD Million | 4.184 USD Billion Aug/23
Money Supply M2 140362 NAD Million | 7.379 USD Billion Aug/23
Central Bank Balance Sheet 56416 NAD Million | 2.966 B USD Aug/23
Deposit Interest Rate 3.72 % 2022
Foreign Direct Investment 7674 NAD Million | 0.403 B USD 2Q/23


Labor Indicators

Indicator Data Period
Unemployment Rate 20.8 % 2022
Youth Unemployment Rate 46.1 % 2018
Employed Persons 725742 Thousand Person | 725.742 Million Person 2018
Labor Force Participation Rate 71.2 % 2018
Living Wage Family 8590 NAD/Month | 496.79 USD/Month 2018
Living Wage Individual 8360 NAD/Month | 483.489 USD/Month 2018
Unemployed Persons 364411 Thousand Persons | 364.411 Million Persons 2018
Wages High Skilled 33300 NAD/Month | 1925.857 USD/Month 2018
Wages Low Skilled  3240 NAD/Month | 187.381 USD/Month 2018


Taxes

Indicator Data Period
Corporate Tax Rate 32 % 2023
Personal Income Tax Rate 37 % 2023
Sales Tax Rate 15 % 2023


Production Indicators

Indicator Data Period
Mining Production 1.8 % Jul/23


Business Indicators

Indicator Data Period
Corruption Index 49 index points 2022
Corruption Rank 59 place 2022
Ease of Doing Business 104 place 2019
Competitiveness Index 54.46 Index Points 2019
Competitiveness Rank 94 2019


Consumer Indicators

Indicator Data Period
Consumer Spending 125567 NAD Million | 6.601 USD Billion 2022
Disposable Personal Income 190708 NAD Million | 10.026 B USD 2022