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Namibia Economic Outlook

After strong growth averaging 5.6% between 2010 and 2016, driven by high public spending, construction of new mines, and favorable commodity prices, the economy has entered a recession. Real GDP growth contracted by 0.9% in 2017 and an estimated 0.1% in 2018, thanks to domestic and external factors, including a sharp reduction in public spending necessitated by falling revenues and weak growth in trading partner economies and subdued household demand.

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Key Facts

Capital: Windhoek
Area: 824,000 sq km
Total Population 2017: 2.6 Million...
Urban Population 2017: 73.50%
Female Population 2017: 49.70%
GDP: US$ 10.2 Billion
GNI Per Capita 2015: US$ 5,210
Inflation Rate: 6.00%
Crude Birth Rate (per 1000): 28.50%
Human Development Index (rank / 188): 125
Human Development Index (scale 0 to 1): 0.640
Membership Date: 06/05/1991
Cumulative Approvals (1967-2016): UA 637.4 Million

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Knowledge Products


Southern Africa Regional Development and Business Delivery Office

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

Tel: +27 12 003 6900

Mr Kapil Kapoor, Director General