Namibia

The COVID–19 pandemic hit Namibia’s economy hard —it is expected to shrink by 7.9% in 2020 because of declines in tourism, retail, trade and investments, health, and education. That followed poor performances in previous years; the economy contracted in 2019 and 2017 and registered anemic growth in 2018 because of poor performance in construction and mining, persistent drought, and weakening demand for Namibian exports. The Bank of Namibia has maintained an accommodative policy stance to support a revival of the domestic economy. It reduced the policy rate by a cumulative 275 basis points to 3.75% in 2020.

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Key Facts

Flag:
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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