Markets Actual Q4 Q1 Q2 Q3 2022
Currency 14.65 15.09 15.26 15.43 15.6 15.96
Stock Market (points) 1482.09 929 597 384 247 102

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 2.25 2 -1.5 -0.8 3 0.7
GDP Annual Growth Rate (%) 1.60 2 1.7 1.5 2.1 2.2
Unemployment Rate (%) 33.40 36.8 36 36 36 36
Inflation Rate (%) 3.50 3.5 3.4 3.2 3 3
Interest Rate (%) 3.75 3.75 3.5 3.5 3.5 3.5
Balance of Trade (NAD Million) -8268.41 -3000 -3000 -5550 -6400 -6000
Current Account (NAD Million) -4001.50 -1000 -1300 2000 2000 -700
Current Account to GDP (% of GDP) 1.90 -2.1 -1.8 -1.8 -1.8 -1.8
Government Debt to GDP (% of GDP) 69.60 70.2 72 72 72 72
Government Budget (% of GDP) -9.50 -9.4 -7.5 -7.5 -7.5 -7.5
Corporate Tax Rate (%) 32.00 32 32 32 32 32
Personal Income Tax Rate (%) 37.00 37 37 37 37 37

GDP Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 2.25 2 -1.5 -0.8 3 0.7
GDP Annual Growth Rate (%) 1.60 2 1.7 1.5 2.1 2.2
GDP (USD Billion) 10.70 11 12.5 12.5 12.5 12.5
GDP Constant Prices (NAD Million) 32741.40 28386 35460 32097 33233 36240
Gross National Product (NAD Million) 173343.23 187866 176810 176290 175943 180700
Gross Fixed Capital Formation (NAD Million) 19654.00 24085 20047 19988 19949 20488
GDP per capita (USD) 5312.95 4800 4800 4800 4800 5350
GDP per capita PPP (USD) 8893.81 9410 9410 9410 9410 9750
GDP From Agriculture (USD Million) 2630.90 1072 1828 961 2670 1868
GDP From Construction (USD Million) 472.40 1250 793 575 479 810
GDP From Manufacturing (USD Million) 3548.00 2800 4355 3157 3601 4451
GDP From Mining (USD Million) 2869.20 2927 2958 2935 2912 3023
GDP From Public Administration (USD Million) 3955.70 3179 4506 3942 4015 4605
GDP From Transport (USD Million) 1005.00 1524 823 1022 1020 841

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 33.40 36.8 36 36 36 36
Population (Million) 2.50 2.6 2.6 2.6 2.6 2.64
Labor Force Participation Rate (%) 71.20 71.3 71.5 71.5 71.5 71.5
Employed Persons (Thousand) 725742.00 640000 670000 670000 670000 670000
Unemployed Persons (Thousand) 364411.00 410000 395000 395000 395000 395000
Youth Unemployment Rate (%) 46.10 50.3 49 49 49 49

Prices Actual Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 3.50 3.5 3.4 3.2 3 3
Consumer Price Index CPI (points) 146.49 147 149 151 151 151
Food Inflation (%) 5.20 6 4.9 5 5.5 5
Import Prices (points) 97.70 97.6 97.6 97.6 97.6 98
Inflation Rate Mom (%) 0.30 0.3 0.3 0.2 0.3 0.3
Export Prices (points) 107.20 107 107 107 107 108
Cpi Housing Utilities (points) 135.11 138 140 139 139 142
CPI Transportation (points) 148.62 149 150 150 150 151

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 3.75 3.75 3.5 3.5 3.5 3.5
Money Supply M1 (NAD Million) 63154.40 63500 61000 62400 62400 62000
Money Supply M2 (NAD Million) 123049.50 124000 125000 122000 122000 120000
Foreign Exchange Reserves (NAD Million) 40945.47 34500 34300 33800 33800 34000
Deposit Interest Rate (%) 4.16 5.4 4.16 3.91 3.91 3.91
Lending Rate (%) 7.50 7.5 7.25 7.25 7.25 7.25
Money Supply M0 (NAD Million) 7516.20 7300 7000 7500 7500 7250
Central Bank Balance Sheet (NAD Million) 43821.60 35800 35000 34000 34000 34500

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (NAD Million) -8268.41 -3000 -3000 -5550 -6400 -6000
Current Account (NAD Million) -4001.50 -1000 -1300 2000 2000 -700
Current Account to GDP (% of GDP) 1.90 -2.1 -1.8 -1.8 -1.8 -1.8
Imports (NAD Million) 17297.74 19000 20500 21100 21100 21000
Exports (NAD Million) 9029.32 13450 14100 15000 15000 15000
Capital Flows (NAD Million) -3373.10 -750 1000 -300 -300 -600
Foreign Direct Investment (NAD Million) 1822.87 -1200 400 280 280 500
External Debt (NAD Million) 33065.00 32500 33100 33100 33100 33100
Terms Of Trade (points) 109.70 110 110 110 110 108
Tourist Arrivals (Persons) 1595973.00 1300000 1450000 1450000 1450000 1450000

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 69.60 70.2 72 72 72 72
Government Budget (% of GDP) -9.50 -9.4 -7.5 -7.5 -7.5 -7.5
Government Spending (NAD Million) 39311.00 29914 40097 39979 39901 40979
Government Debt (NAD Million) 111507.00 112000 114000 114000 114000 114000
Military Expenditure (USD Million) 417.00 430 470 470 470 470

Taxes Actual Q4 Q1 Q2 Q3 2022
Corporate Tax Rate (%) 32.00 32 32 32 32 32
Personal Income Tax Rate (%) 37.00 37 37 37 37 37
Sales Tax Rate (%) 15.00 15 15 15 15 15

Business Actual Q4 Q1 Q2 Q3 2022
Mining Production (%) -1.50 16 45 12 12 15

Consumer Actual Q4 Q1 Q2 Q3 2022
Consumer Spending (NAD Million) 99451.00 87330 101440 101142 100943 103672
Disposable Personal Income (NAD Million) 173907.00 142163 177385 176863 176516 181288


This page has economic forecasts for Namibia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Namibia economy.