Namibia

Namibia Economic Outlook

  • Economic growth recovered strongly in 2010 from the impact of the global economic crisis, but moderated in 2012. Despite the prevailing expansionary fiscal stance maintained by the government, the improvement in the fiscal deficit position in 2012 is mainly on account of large Southern African Customs Union (SACU) transfers.
  • Namibia’s growth prospects for the medium-term remain favourable, but downside risks stemming from global uncertainties are elevated.
  • Further efforts are required for Namibia to put in place stronger policies and strategies for managing its available mineral resources and promoting value addition of mining products in order to make growth more inclusive and increase the resilience of Namibia’s medium-term growth prospects.

Contacts

Southern Africa Resource Center (SARC)

African Development Bank Group
339 Witch-Hazel Avenue
Highveld Ext. 78
Centurion, South Africa

Tel: +27 12 003 6900

Mr. Ebrima Faal, RRC Director





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Key Facts

Flag:
Capital: Windhoek
Area: 824,000 sq km
Total Population 2012: 2.4 Million
Urban Population 2012: 39.20%
Female Population 2012: 50.27%
GDP: US$ 12.1 Billion
GNI Per Capita 2012: US$ 4,700
Inflation Rate: 6.50%
Crude Birth Rate (per 1000): 25.44%
Human Development Index (rank / 187): 128
Human Development Index (scale 0 to 1): 0.608
Membership Date: 06/05/1991
Cumulative Approvals (1967-2012): UA 174.5 Million

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