Namibia: economy

How fast is Namibia's economy growing?

Namibia's real GDP grew 4.8% in the second quarter of 2026 compared with the same quarter of 2025, according to the Namibia Statistics Agency's Q2 2026 GDP presentation (24 September 2026). Growth in the second quarter of 2025 was 1.7%. For the whole of 2025 the economy grew 1.7%, down from 3.8% in 2024, the NSA's annual national accounts release shows.

Quarterly growth compares a quarter with the same quarter a year earlier, after removing price changes. In the second quarter of 2026, agriculture and forestry grew 17.8%, health 17.6% and wholesale and retail trade 9.0%, while construction fell 15.5% and mining and quarrying fell 3.1%. In 2025, mining fell 9.4%, mainly because diamond mining contracted 19.4%. Quarterly figures are revised as new data arrive.

Official sources: Q2 2026 GDP presentation · annual national accounts release

What is the repo rate in Namibia?

The Bank of Namibia's repo rate is 6.75%, after the Monetary Policy Committee decided unanimously to keep it unchanged at its meeting on 10 and 11 August 2026, according to the statement on the bank's home page. It was the fourth of the committee's bi-monthly meetings in 2026.

The repo rate is the rate at which the central bank lends to commercial banks, and it guides other interest rates. The bank says its decisions take account of the need to safeguard the peg between the Namibia dollar and the South African rand.

Official sources: Bank of Namibia

What is the inflation rate in Namibia?

Consumer prices in Namibia were 5.4% higher in September 2026 than a year earlier, according to the Namibia Statistics Agency's September 2026 consumer price index bulletin. The rate was 3.5% in September 2025 and 5.0% in August 2026. Core inflation, which leaves out volatile items such as most food and energy, was 4.0%.

Transport prices rose 14.9% over the year and contributed 2.2 percentage points of the 5.4%, driven by the cost of running vehicles (up 20.1%) and public transport (up 15.0%). Inflation was highest in Zone 2, the Khomas region including Windhoek, at 6.2%, and lowest in Zone 1, which covers nine regions in the north and centre, at 4.3%. Consumer prices rose 3.5% on average in 2025, according to World Bank Open Data.

Official sources: September 2026 consumer price index bulletin · according to World Bank Open Data

How big is Namibia's economy?

Namibia's gross domestic product was N$269.8 billion in 2025 at current prices, up from N$250.0 billion in 2024, according to the Namibia Statistics Agency's Annual National Accounts 2025 release (26 March 2026). GDP per person was US$4,876 in 2025, according to World Bank Open Data.

Nominal GDP is the value of all goods and services produced in the year at that year's prices, so it rises with both output and inflation. The real economy grew 1.7% in 2025. Tertiary industries such as trade, health, education and information and communication grew 4.2%, while primary industries, mainly mining and agriculture, shrank 7.2%. The Namibia dollar is pegged one-to-one to the South African rand.

Official sources: Annual National Accounts 2025 release · World Bank Open Data

What does Namibia export?

Namibia exported goods worth N$12.7 billion in August 2026 and imported N$16.6 billion, a trade deficit of N$3.9 billion, according to the Namibia Statistics Agency's International Merchandise Trade Statistics bulletin for August 2026. Exports from January to August 2026 totalled N$91.2 billion, N$6.9 billion more than a year earlier, while imports were N$120.8 billion.

Mining and quarrying, including uranium, diamonds and gold, made up more than half of export earnings in August 2026, at N$6.4 billion; uranium exports rose by N$2.7 billion on the month. Manufacturing contributed 44.0% and agriculture, forestry and fishing 4.8%. The bulletin covers goods only, not services such as tourism, and is published monthly with revisions to the previous month.

Official sources: International Merchandise Trade Statistics bulletin for August 2026

How much foreign currency does Namibia hold in reserves?

Namibia's foreign reserves were N$58.5 billion at the end of August 2026, enough to cover an estimated 3.6 months of imports, according to the Bank of Namibia's Quarterly Bulletin for September 2026. At the end of June 2026 they stood at N$56.4 billion, 5.4% lower than a year earlier.

The bank says the annual fall reflected the repayment of Namibia's Eurobond in October 2025. Reserves back the peg of the Namibia dollar to the South African rand: at the end of June 2026 they were 10.1 times the N$5.6 billion of currency in circulation. Excluding imports for oil and gas exploration, import cover was 4.0 months in August. Receipts from the Southern African Customs Union (SACU) add to reserves at the start of each quarter.

Official sources: Quarterly Bulletin for September 2026

What is Namibia's current account balance?

Namibia's current account deficit was N$12.1 billion in the second quarter of 2026, equal to 17.1% of quarterly GDP, according to the Bank of Namibia's Quarterly Bulletin for September 2026. It was 15.2% in the first quarter of 2026 and 8.1% in the second quarter of 2025.

The current account records trade in goods and services, income and transfers with the rest of the world. The bank attributes the wider deficit to a larger merchandise trade deficit and higher payments for services linked to offshore oil and gas exploration and appraisal. These deficits are financed by inflows on the financial account, which totalled N$9.6 billion in the quarter.

Official sources: Quarterly Bulletin for September 2026

How many tourists visit Namibia?

131,603 passengers arrived at Namibia's airports in the second quarter of 2026, 0.8% more than a year earlier, according to the Bank of Namibia's Quarterly Bulletin for September 2026, which uses airport arrivals as a measure of tourism. Arrivals were 10.2% above their 2019 level. 45,206 passengers arrived at Hosea Kutako International Airport in July 2026, the Namibia Statistics Agency's passenger arrivals report shows.

Airport arrivals include returning residents and business travellers, and leave out the many visitors who come by road from South Africa and other neighbours. In July 2026, hotels, lodges and other reporting establishments had a room occupancy rate of 62.6%, up from 58.5% in June, according to the NSA's rooms and beds occupancy report.

Official sources: Quarterly Bulletin for September 2026 · passenger arrivals report · rooms and beds occupancy report

How fast is Namibia's economy growing?

According to the World Bank, real GDP growth in Namibia was 1.7% in 2025. Its high point since 2005 was 2006, at 7.1%; its low point was 2020, at -8.1%. Sub-Saharan Africa median: 4.6%; Namibia is 41st highest of 46. Of 180 countries with 2025 data, 138th highest.

How rich is Namibia per person?

The World Bank puts GDP per person in Namibia at $4,876 in 2025. Its high point since 2005 was 2012, at $5,943; its low point was 2005, at $3,686. Across Sub-Saharan Africa the middle value was $1,351, and Namibia placed 8th highest of 46. Of 180 countries with 2025 data, 115th highest.

What is Namibia's GDP per capita at PPP?

According to the World Bank, GDP per person at purchasing power parity in Namibia was $11,986 in international dollars in 2025. No year since 2005 has been higher. It is 9th highest of 46 in Sub-Saharan Africa, where the median is $4,425 in international dollars. Worldwide: 118th of 179.

How much does Namibia export?

The World Bank puts exports of goods and services in Namibia at 44.7% of GDP in 2025. The peak was 53.7% of GDP in 2008 and the low 32.0% of GDP in 2021. Sub-Saharan Africa median: 26.1% of GDP; Namibia is 7th highest of 38. World rank, highest first: 45th of 133.

What is Namibia's current account balance?

The IMF puts the current account balance in Namibia at -13.4% of GDP in 2024, a deficit. Its high point since 2005 was 2006, at 13.5% of GDP; its low point was 2016, at -16.5% of GDP. Across Sub-Saharan Africa the middle value was -4.2% of GDP, and Namibia placed 33rd highest of 36. World rank, highest first: 149th of 162.

How much foreign direct investment goes into Namibia?

In 2025, net inflows of foreign direct investment in Namibia was 9.6% of GDP, according to the IMF. The peak was 18.3% of GDP in 2023 and the low -1.4% of GDP in 2020. Across Sub-Saharan Africa the middle value was 2.0% of GDP, and Namibia placed 6th highest of 46. Worldwide: 19th of 179.

What are bank lending rates in Namibia?

The latest figure from the IMF, for 2024, is 11.0%. Its high point since 2005 was 2008, at 13.7%; its low point was 2021, at 6.9%. It is 18th highest of 23 in Sub-Saharan Africa, where the median is 16.0%. World rank, highest first: 39th of 89.