World Factbook

Namibia

Republic of Namibia

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated

revenues

$4.415 billion (2023 est.)

expenditures

$4.779 billion (2023 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$5.361 billion (2022 est.)

Exports 2023

$5.729 billion (2023 est.)

Exports 2024

$5.887 billion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$7.43 billion (2022 est.)

Imports 2023

$8.443 billion (2023 est.)

Imports 2024

$9.199 billion (2024 est.)

Industries

mining, tourism, fishing, agriculture

Labor force

1.131 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: central government debt as a % of GDP

Public debt 2019

4.64% of GDP (2019 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

0.7% of GDP (2022 est.)

Remittances 2023

1% of GDP (2023 est.)

Remittances 2024

1.1% of GDP (2024 est.)

Exchange rates

Currency

Namibian dollars (NAD) per US dollar -

Exchange rates 2020

16.463 (2020 est.)

Exchange rates 2021

14.779 (2021 est.)

Exchange rates 2022

16.356 (2022 est.)

Exchange rates 2023

18.446 (2023 est.)

Exchange rates 2024

18.329 (2024 est.)

Economic overview

upper middle-income, export-driven Sub-Saharan economy; natural resource rich; Walvis Bay port expansion for trade; high potential for renewable power generation and energy independence; major nature-based tourist locale; natural resource rich; shortage of skilled labor

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

19.7% (2022 est.)

Unemployment rate 2023

19.4% (2023 est.)

Unemployment rate 2024

19.2% (2024 est.)

Exports - partners

South Africa 27%, China 12%, Botswana 8%, Belgium 7%, France 5% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

South Africa 36%, China 9%, India 7%, UAE 4%, USA 3% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$10,000 (2022 est.)

Real GDP per capita 2023

$10,100 (2023 est.)

Real GDP per capita 2024

$10,300 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

5.4% (2022 est.)

Real GDP growth rate 2023

4.4% (2023 est.)

Real GDP growth rate 2024

3.7% (2024 est.)

Agricultural products

root vegetables, milk, maize, beef, grapes, onions, wheat, fruits, pulses, vegetables (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

gold, diamonds, radioactive chemicals, fish, refined petroleum (2023)

note: top five export commodities based on value in dollars

Imports - commodities

refined petroleum, copper ore, ships, electricity, trucks (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

-$1.605 billion (2022 est.)

Current account balance 2023

-$1.893 billion (2023 est.)

Current account balance 2024

-$2.055 billion (2024 est.)

Taxes and other revenues

33% (of GDP) (2023 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$13.372 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

79.3% (2024 est.)

government consumption

21.5% (2024 est.)

investment in inventories

1.9% (2024 est.)

investment in fixed capital

23.7% (2024 est.)

exports of goods and services

41.6% (2024 est.)

imports of goods and services

-68% (2024 est.)

Population below poverty line

17.4% (2015 est.)

note: % of population with income below national poverty line

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

6.1% (2022 est.)

Inflation rate (consumer prices) 2023

5.9% (2023 est.)

Inflation rate (consumer prices) 2024

4.2% (2024 est.)

Industrial production growth rate

1% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$28.761 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$30.039 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$31.154 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

36.7% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

37.3% (2024 est.)

female

38% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$2.803 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$2.956 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$3.356 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

28.9% (2024 est.)

services

54.5% (2024 est.)

agriculture

7.3% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

1% (2015 est.)

highest 10%

47.2% (2015 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2015

59.1 (2015 est.)