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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 sector	Value added ($ millions) 2012	Percent of total
Other activities	4,908	43.1%
Wholesale, retail trade, restaurants and hotels	1,686	14.8%
Manufacturing	1,443	12.7%
Mining and utilities	1,349	11.8%
Agriculture, hunting, forestry, fishing	907	8.0%
Transport, storage and communication	657	5.8%
Construction	445	3.9%
Total value added	11,395	100%

Employment

Unemployment rate: 16.9% in 2013⁷

Employment by Industry 2013⁸

Employment sector	Employees (thousands) 2013	Percent of total
Agriculture, forestry and fishing	215	31.4%
Wholesale trade, retail trade and repair of motor vehicles	105	15.3%
Activities of households as employers	58	8.4%
Construction	48	7.0%
Real estate	43	6.3%
Education	42	6.1%
Accommodation and food service	37	5.4%
Manufacturing	33	4.8%
Public administration and defence	32	4.7%
Other service	18	2.6%
Human health and social work	17	2.4%
Finance and insurance	15	2.1%
Mining and quarrying	14	2.0%
Transportation and storage	6	0.8%
Electricity, gas, steam and air conditioning	5	0.7%
Extraterritorial organizations and bodies	1	0.1%
Total employment	686	100%

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

0%: $0-$3,442
27% on the amount over $3,442: $3,442-$6,884
32% on the amount over $6,884 + $929: $6,884-$17,211
34% on the amount over $17,211 + $4,234: $17,211-$64,544
37% on the amount over $64,544 + $20,327: $64,544+

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