Namibia Economic Outlook

  • Growth sharply moderated to 1.3% in 2016 but should rebound in 2017 as the agriculture sector recovers and production from new mines accelerates.
  • On-going fiscal consolidation policy measures to reduce public debt and help address the current account imbalance will need to protect growth-promoting public investments.
  • The “Growth at Home” strategy for industrialisation and the policy for promoting micro, small and medium enterprises provide a strong foundation for diversification and job creation but the pace for business environment reforms needs increasing to support entrepreneurship.

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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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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