108 years old, since 1910.
15 November 2018

Republic of Namibia

Overview

Namibia, a large and sparsely populated country on Africa`s south-west coast, has enjoyed stability since gaining independence in 1990 after a long struggle against rule by South Africa. Namibia achieved independence in 1990 after a bush war of almost 25 years. Inter-racial reconciliation encouraged the country`s white people to remain and they still play a major role in farming and other economic sectors.

Deserts occupy much of the country; their dunes take on shapes and colours according to the elements. The country also boasts game-rich grasslands and a semi-arid Central Plateau, large tracts of which are given over to livestock farming.

Economic Performance 2016

Namibia’s nominal GDP at market prices was estimated at R161.0 billion in 2016 compared to R147.6 billion in 2015. The economy recorded a slow growth of 1.1 per cent in 2016 compared to 6.0 per cent in 2015. The slow growth in real GDP was reflected in all industries that recorded weaker growth rates with the mining and construction sectors contracting by 5.7 per cent and 26.5 per cent, respectively.

The largest industries, as measured by their nominal value added in 2016, were general government accounting for 23.9 per cent of GDP, followed by wholesale, retail, hotel and restaurants accounting for 13.9 per cent of GDP.

Economic Indicators 2016

Country size

825 615 km2

GDP at current prices:

R161.0 billion

Population: (2017):

2 324 388

GDP per capita:

R69 279

Real economic growth rate:

1.1%

Annual inflation rate:

6.7%

Merchandise imports:

R96.5 billion

Merchandise exports:

R66.5 billion

Feeds

New Era
The Namibian Economist
The Namibian