Namibia’s economy explained. Economic overview of Namibia. Namibia’s labor market, standard of living, trade balance in goods and services, exports and imports, the country’s trading partners, government debt, as well as Namibia’s real GDP growth rate are presented.
GDP = C + I + G + NX (Gross Domestic Product = Consumption + Investment + Government spending + Net Exports)
GNI (Gross National Income)
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Sources:
Population
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GDP (current US$, 2020):
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GNI per capita, Atlas method (2020, current US$):
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Unemployment Rate
In Namibia, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.
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Employment in agriculture, industry and services
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Exports, Imports, Trade balance - 2020 data derived from the ITC (International Trade Centre):
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Government Debt to GDP Ratio
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Economic Growth
International Monetary Fund - World Economic Outlook, April 2021: Managing Divergent Recoveries
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