Agriculture > products
millet, sorghum, peanuts; livestock; fish |
|
Aid as % of GDP
|
4.4% |
|
[52nd of 129]
|
|
Source: CIA World Factbook, 28 July 2005 |
|
Debt > External
|
$1,003,000,000.00 |
|
[127th of 136]
|
|
Source: calculated on the basis of data on ODA from OECD (Organisation for Economic Co-operation and Development), Development Assistance Committee. 2002. DAC Online. Database. Paris.; and data on GDP from World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC |
|
Distribution of family income > Gini index
|
70.7 |
|
[1st of 43]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
Economic freedom
|
2.3 |
|
[52nd of 156]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
Economy > Overview
The economy is heavily dependent on the extraction and processing of minerals for export. Mining accounts for 8% of GDP, but provides more than 50% of foreign exchange earnings. Rich alluvial diamond deposits make Namibia a primary source for gem-quality diamonds. Namibia is the fourth-largest exporter of nonfuel minerals in Africa, the world's fifth-largest producer of uranium, and the producer of large quantities of lead, zinc, tin, silver, and tungsten. The mining sector employs only about 3% of the population while about half of the population depends on subsistence agriculture for its livelihood. Namibia normally imports about 50% of its cereal requirements; in drought years food shortages are a major problem in rural areas. A high per capita GDP, relative to the region, hides one of the world's most unequal income distributions. The Namibian economy is closely linked to South Africa with the Namibian dollar pegged one-to-one to the South African rand. Increased payments from the Southern African Customs Union (SACU) put Namibia's budget into surplus in 2007 for the first time since independence, but SACU payments will decline after 2008 as part of a new revenue sharing formula. Increased fish production and mining of zinc, copper, uranium, and silver spurred growth in 2003-07, but growth in recent years was undercut by poor fish catches and high costs for metal inputs. |
|
Source: The Heritage Foundation |
|
Exports
|
$2,919,000,000.00 |
|
[115th of 189]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GDP
|
$6,371,540,000.00 |
|
[115th of 203]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GDP > PPP
|
$13,139,000,000.00 |
|
[117th of 163]
|
|
Source: World Development Indicators database and CIA World Factbook |
|
GDP > Real growth rate
|
3.6% |
|
[132nd of 198]
|
|
Source: World Bank. 2005. World Development Indicators 2005. |
|
GDP growth > annual %
|
3.5 annual %
|
|
[110th of 187]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GINI index
|
74.33
|
|
[1st of 40]
|
|
Source: World Development Indicators database |
|
Gross National Income
|
$3,510,990,000.00 |
|
[113rd of 172]
|
|
Source: World Development Indicators database |
|
Human Development Index
|
0.627 |
|
[126th of 178]
|
|
Income category
|
Lower middle income |
|
|
|
Source: Human Development Report 2006, United Nations Development Programme |
|
Population below poverty line
|
50% |
|
[10th of 46]
|
|
Source: |
|
Population under $1 a day
|
34.9 |
|
[17th of 59]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
Poverty > Share of all poor people
|
0.06 % of world's poor |
|
[50th of 80]
|
|
Source: World Bank 2002b via backone.pdf |
|
Public debt
|
22.3 % of GDP |
|
[88th of 121]
|
|
Source: Country Responsibilities in Achieving the Millenium Development Goals", April 8 2003, by Janice Poling |
|
Tourist arrivals
|
502,000 |
|
[69th of 152]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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