Economy of Namibia

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Economy of Namibia
Gross Domestic Product (GDP) ( PPP ) U $ 27.04 billion (2016) 
GDP (real) US $ 10.18 billion (2015) 
Economic growth 1.1% (2016) 
GDP per capita (PPP) US $ 11,800 (2016) 
GDP by sector
  • Agriculture: 5.5%  
  • Industry: 29%  
  • Services: 65.6% (2016) 
Employed 750,000 (2016) 
Unemployment rate 33.4% (2018) (for comparison: 28.1% (2014); 51.2% (2010)) 
Population ent.
D. Poverty line		 28.7% (2010) 
State budget Income: US $ 3.818 billion Expenditure: US $ 4.408 billion (2016) 
 
National debt 35.6% of GDP (2016) 
export US $ 4.185 billion fob (2016) 
import US $ 6.888 billion fob (2016) 
Foreign exchange reserves US $ 1.762 billion (2016) 
currency Namibian dollar
(inflation rate: 7.1% 2016; 3.4% 2015)

Namibia has a largely market- oriented economic system . The main industries are mining , fishing and processing, and agriculture and tourism .

Since the country gained independence from South Africa in 1990 , trade and modern services have also made a major contribution to the country's economic strength. In addition, development aid represents a supporting source of income, with Germany - also for historical reasons - making the largest donations per capita worldwide.

About 1.53 million of the 2.3 million inhabitants of Namibia (as of 2018) are theoretically of working age (15+ years). Of these, 365,000 were unemployed in Namibia in 2018 . This corresponds to an unemployment rate of 33.4 percent.

Namibia also has one of the densest and best-developed road networks in Africa and, with the port of Walvis Bay and the port of Lüderitz , two modern ports . A good rail network completes the infrastructural basis.

In the Global Competitiveness Index , which measures a country's competitiveness, Namibia ranks 89th out of 137 countries (as of 2017/18). In 2017, the country ranks 78th out of 180 countries in the index for economic freedom .

Mining

Around 12 percent of the gross domestic product (GDP; as of 2012) of Namibia is generated by mining . Namibia's raw materials are primarily uranium and diamonds , and large amounts of copper , gold , lead and tin are also mined. The restricted diamond area around Lüderitz is famous . The largest uranium mine in the world is the Rössing mine northeast of Swakopmund. There is a significant copper deposit near Tsumeb , and the formerly world's largest tin mine was located in Uis .

Agriculture and fishing

Sign of the Burgsdorf farm near Maltahöhe , a form of savanna management typical of Namibia

Another important economic sector is agriculture , in which around half of all gainfully employed people in Namibia are employed, with cattle and sheep raising the majority. Hoodia is grown on farms in southern Namibia. In addition, mainly maize and olives , wine , table grapes ( Aussenkehr ), dates ( Naute-Damm ) and roses are grown. Barley (for Namibian beer ) and rice are also grown in various test projects . Since 2020, up to 150 tons of blueberries have been harvested in Mashare .

According to the Meat Board of Namibia, the following livestock were in 2012 . (Trend compared to 2006)

  • Donkey : 174,946  
  • Poultry : 3,357,246 (more than 300 percent) 
  • Camels : 1158 (more than 1000 percent) 
  • Horses : 46,643  
  • Cattle : 2,904,451 (2.2 million (2016) ) 
  • Sheep : 2,677,913 (2 million (2016) )  
  • Pigs : 69,430  
  • Ostriches : 5541 (more than 50 percent) 
  • Goats : 1,933,103 (2.1 million (2016) )  

Fishing, especially around Walvis Bay and Lüderitz , plays an important role.

tourism

International tourism is an important branch of the economy with rapidly increasing importance in Namibia. Namibia has numerous landscape and nature parks that are unique in the world: safaris , guest farms , lodges and ecologically compatible incentive trips . Urban areas are also increasingly being included in tourism development so that previously disadvantaged population groups can also participate in the positive development. In 2013 more than 1.3 million travelers visited Namibia.

Foreign trade

The most important trading partner is South Africa . In 2016 goods worth 59.1 billion Namibian dollars were imported from the neighboring country . South Africa follows as the most important countries of origin of Namibian imports, Botswana (6.7 billion), Zambia (4 billion), People's Republic of China (2.8 billion) and Norway (2.5 billion). For the first time, the most important export nation Namibia was Switzerland with an export value of 13.3 billion Namibian dollars. This is followed by South Africa (11.4 billion), Botswana (10 billion) and Zambia (4 billion).

Namibia is a member of the World Trade Organization (WTO), the South African Development Community (SADC) and the Customs Union of Southern Africa (SACU) (other SACU members: Swaziland , Lesotho , Republic of South Africa and Botswana ). The accounting units of the SACU de facto require a currency union. It is particularly relevant that this agreement allows Namibian goods to be cleared in South African ports by the customs of the Republic of South Africa.

Key figures

All GDP values ​​are given in US dollars ( purchasing power parity ).

year 1990 1995 2000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
GDP
(purchasing power parity) 		5.55 billion 7.60 billion 9.82 billion 13.92 billion 14.91 billion 15.87 billion 16.61 billion 16.78 billion 18.02 billion 19.32 billion 20.68 billion 22.19 billion 24.02 billion 25.74 billion 26.35 billion 26.51 billion
GDP per capita
(purchasing power parity) 		4.124 4,769 5,373 7.112 7,486 7,959 8,207 8,171 8,641 9.132 9,592 10,104 10,734 11,284 11,335 11,311
GDP growth
(real) 		... 4.1% 3.5% 4.7% 3.9% 3.6% 2.7% 0.3% 6.0% 5.1% 5.0% 5.6% 6.4% 6.0% 1.1% −1.2%
Inflation
(in percent) 		... 11.1% 10.2% 2.3% 5.0% 6.5% 9.1% 9.5% 4.9% 5.0% 6.7% 5.6% 5.3% 3.4% 6.7% 6.1%
Public debt
(as a percentage of GDP) 		... 20% 21% 27% 25% 19% 19% 16% 16% 27% 25% 25% 25% 40% 45% 46%

See also

Web links

Individual evidence

  1. ↑ Namibia - economy overview. World Fact Book, 2016. Retrieved May 10, 2017.
  2. ↑ Annual National Accounts 2016. Namibia Statistics Agency, August 17, 2017.
  3. ↑ [3]
  4. ↑ Country Rankings: World & Global Economy Rankings on Economic Freedom. Retrieved December 22, 2017 .
  5. ↑ Chamber of Mines Annual Review 2011–2012, Chamber of Mines of Namibia, p. 2 ( Memento of October 29, 2013 in the Internet Archive ) (PDF; 5.3 MB) accessed on October 24, 2013
  6. ↑ Helmut Rehmsen: The miraculous effect of the Namibian hoodia plant. (Audio from September 3, 2008)
  7. ^ Official website of Al Dahra Agriculture , accessed October 30, 2014.
  8. ↑ Namibia Stock Census 2012. Meat Board of Namibia, 2012 ( Memento of November 10, 2014 in the Internet Archive ) accessed on May 24, 2013
  9. ^ National Stock Census 2006. Meat Board of Namibia, 2006 ( Memento of November 10, 2014 in the Internet Archive ), accessed on May 24, 2013
  10. ↑ a b c December 13, 2016 - Morning News. Hitradio Namibia, December 13, 2016.
  11. ↑ Annual Trade Statistics Bulletin 2016. Namibia Statistics Agency, March 15, 2017.
  12. ^ Report for Selected Countries and Subjects. Retrieved September 9, 2018 (American English).