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ECON FACTBOOK

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Economy of Namibia

Population: 2.3 million in 20131

GDP: $12.6 billion in 20132

GDP per capita: $5,693 nominal3 ($9,685 PPP4) in 2013

GDP growth rate: 5.1% in 20135

Industries

GDP by Industry 20126

Industry sectorValue added ($ millions) 2012Percent of total
Other activities4,90843.1%
Wholesale, retail trade, restaurants and hotels1,68614.8%
Manufacturing1,44312.7%
Mining and utilities1,34911.8%
Agriculture, hunting, forestry, fishing9078.0%
Transport, storage and communication6575.8%
Construction4453.9%
Total value added11,395100%

Employment

Unemployment rate: 16.9% in 20137

Employment by Industry 20138

Employment sector Employees (thousands) 2013Percent of total
Agriculture, forestry and fishing21531.4%
Wholesale trade, retail trade and repair of motor vehicles10515.3%
Activities of households as employers588.4%
Construction487.0%
Real estate436.3%
Education426.1%
Accommodation and food service375.4%
Manufacturing334.8%
Public administration and defence324.7%
Other service182.6%
Human health and social work172.4%
Finance and insurance152.1%
Mining and quarrying142.0%
Transportation and storage60.8%
Electricity, gas, steam and air conditioning50.7%
Extraterritorial organizations and bodies10.1%
Total employment686100%

Corporations

Top 10 Corporations by Revenue 20139

N/A

Households

Household Wealth: $22 billion (174% of GDP) in 201410

Household Wealth per Adult: $17,472 in 201410

Gini Coefficient: .639 in 201311

Government

Central Government

Central Government Revenue: $4.3 billion (34% of GDP) in 201312

Central Government Expenditure: $5.1 billion (40% of GDP) in 201312

Central Government Budget Balance: -$0.8 billion (-6% of GDP) in 201312

Central Government Public Debt: $2.7 billion (21% of GDP) in 2013* 13

Central Government 12 Year Bond Interest Rate: 8.50% in 201314

* Public debt calculated using the exchange rate 11.62 NAD = 1 USD

Government Funds

N/A

Tax Structure

Individual Income Tax Rates and Thresholds in 2013* 15

Corporate Tax Rate: 33% in 201416

* Individual thresholds calculated using the exchange rate 11.62 NAD = 1 USD

Monetary Policy

Money Supply (M1): $3.5 billion (28% of GDP) in Sept 2014* 17

Benchmark Interest Rate: Repo Rate = 6% in Feb 201518

Total Reserves: $1.5 billion (12% of GDP) in 201319

Exchange Rate: 11.62 Namibian Dollars = 1 U.S. Dollar on Feb 17, 201520

Inflation: 5.6% in 201321

* Money supply calculated using the exchange rate 11.62 NAD = 1 USD

Financial Institutions

Top 10 Financial Institutions by Assets 201322

N/A (data not available at Relbanks.com)

International Accounts

Exports: $5.1 billion (41% of GDP) in 201323

Imports: $4.9 billion (39% of GDP) in 201323

Trade Balance: +0.2 billion (+2% of GDP) in 201323

Foreign Direct Investment Inflow: $903 million (7% of GDP) in 201324

Foreign Direct Investment Outflow: N/A

Foreign Aid Inflow: $265 million (2% of GDP) in 201225

Foreign Aid Outflow: N/A

References

1. Source: World Bank Indicators (Population) Go back
2. Source: World Bank Indicators (GDP) Go back
3. Source: World Bank Indicators (GDP per capita) Go back
4. Source: World Bank Indicators (GDP per capita PPP) Go back
5. Source: World Bank Indicators (GDP growth rate) Go back
6. Source: United Nations Statistics Division (GDP by industry) Go back
7. Source: World Bank Indicators (Unemployment rate) Go back
8. Source: International Labor Organization, ILOSTAT, Downloads (Employment by economic activity) Go back
9. Source: Annual reports (Corporate data) Go back
10. Source: Credit Suisse Global Wealth Databook (Household wealth) Go back
11. Source: UN Human Development Report (Gini coefficient) Go back
12. Source: CIA World Factbook (Government budget) Go back
13. Source: Bank of Namibia (Public debt) Go back
14. Source: Bank of Namibia (Government bond yield) Go back
15. Source: PKF Tax Guide (Individual tax rates) Go back
16. Source: Tax Foundation (Corporate tax rate) Go back
17. Source: Bank of Namibia, Quarterly Bulletins (Money supply) Go back
18. Source: Bank of Namibia (Benchmark interest rate) Go back
19. Source: World Bank Indicators (Total reserves) Go back
20. Source: xe.com (Exchange rate) Go back
21. Source: World Bank Indicators (Inflation rate) Go back
22. Source: Relbanks.com (Financial institutions by assets) Go back
23. Source: CIA World Factbook (Trade data) Go back
24. Source: World Bank Indicators (FDI data) Go back
25. Source: World Bank Indicators (Aid data) Go back