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.


Overview Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate -1.20 1.4 1.6 0.9 0.3 1.8 percent
Unemployment Rate 34.00 28.9 35.67 35.85 36.02 25.5 percent
Inflation Rate 5.10 4 5.4 5.5 5.5 6 percent
Interest Rate 6.75 6.5 6.5 6 6 5.75 percent
Balance of Trade -2805.60 -3503 -3351 -2420 -2915 -2569 NAD Million
Government Debt to GDP 41.50 47 50 50 50 53 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 14.02
14.58 14.78 14.97 15.17 16
Stock Market 1285.29
points
1292 1271 1250 1229 1149
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate -1.20
percent
1.4 1.6 0.9 0.3 1.8
GDP Annual Growth Rate -0.20
percent
0.9 1.3 1.5 1.7 3.3
GDP 13.24
USD Billion
14 15 15 15 16
GDP Constant Prices 25893.00
NAD Million
27855 27885 26281 27730 29379
Gross National Product 173754.81
NAD Million
175319 176014 176361 158388 184907
Gross Fixed Capital Formation 23147.00
NAD Million
23355 23448 23494 31220 24633
GDP per capita 5854.86
USD
6000 6200 6200 6200 6400
GDP per capita PPP 9541.81
USD
9515 10150 10150 9509 9369
GDP From Agriculture 1205.40
USD Million
1017 1011 1223 1033 1073
GDP From Construction 972.60
USD Million
1281 1307 987 1000 1351
GDP From Manufacturing 2402.30
USD Million
2676 2693 2438 2783 2823
GDP From Mining 2699.00
USD Million
2660 2768 2739 2423 2805
GDP From Public Administration 2667.00
USD Million
3040 3190 2707 3399 3206
GDP From Services 2259.70
USD Million
2263 2267 2271 2275 2296
GDP From Transport 1582.00
USD Million
1570 1656 1606 1545 1656
GDP From Utilities 647.40
USD Million
537 612 614 551 575
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 34.00
percent
28.9 35.67 35.85 36.02 25.5
Population 2.44
Million
2.48 2.49 2.5 2.51 2.6
Living Wage Family 8590.00
NAD/Month
8590 8590 8590 8590 8590
Living Wage Individual 8360.00
NAD/Month
8360 8360 8360 8360 8360
Wages Low Skilled 3240.00
NAD/Month
2449 2658 2762 2867 2486
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 5.10
percent
4 5.4 5.5 5.5 6
Consumer Price Index CPI 134.44
Index Points
134 138 139 141 151
Food Inflation 3.00
percent
3.34 3.21 3.19 3.21 3.21
Import Prices 127.80
Index Points
132 134 135 136 146
Inflation Rate Mom 0.40
percent
0.5 0.45 0.45 0.45 0.45
Cpi Housing Utilities 132.57
Index Points
133 135 136 137 147
CPI Transportation 134.79
Index Points
126 130 134 141 143
Export Prices 174.00
Index Points
180 181 182 182 193
GDP Deflator 162.35
Index Points
170 172 174 176 193
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 6.75
percent
6.5 6.5 6 6 5.75
Money Supply M1 45684.40
NAD Million
46087 45978 45982 45975 45976
Money Supply M2 100456.20
NAD Million
100602 100613 100610 100612 100611
Foreign Exchange Reserves 32516.66
NAD Million
32937 33006 33023 33026 33028
Deposit Interest Rate 5.90
percent
5.9 5.9 5.4 5.4 5.15
Lending Rate 10.50
percent
10.5 10.5 10 10 9.75
Money Supply M0 7310.33
NAD Million
7718 7771 7759 7762 7762
Central Bank Balance Sheet 32715.40
NAD Million
32763 32741 32723 32713 32704
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade -2805.60
NAD Million
-3503 -3351 -2420 -2915 -2569
Exports 13564.40
NAD Million
13999 13879 13866 13910 13898
Imports 16370.00
NAD Million
17800 17230 16285 16825 16467
Current Account -613.50
NAD Million
-1415 -1414 -1027 -1176 -1146
Current Account to GDP -2.30
percent
-6 -9 -9 -9 -4
Capital Flows -278.00
NAD Million
-1904 -1524 -1333 -1699 -1632
Terms Of Trade 136.20
Index Points
145 145 145 146 149
Terrorism Index 0.00
0 0 0 0 0
Foreign Direct Investment -344.10
NAD Million
389 430 479 462 540
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 41.50
percent
47 50 50 50 53
Government Budget -5.40
percent of GDP
-5.4 -5.4 -5.4 -5.4 -5.4
Government Spending 28749.00
NAD Million
29008 29123 29180 28768 30594
Government Debt 74039.00
NAD Million
78353 79846 81317 82763 94506
Military Expenditure 368.40
USD Million
357 357 357 357 357
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Changes in Inventories 861.90
NAD Million
-179 -147 -116 -83.91 73.98
Internet Speed 2922.00
KBps
3415 3428 3477 3500 3582
IP Addresses 170593.00
IP
139837 136796 134179 131775 119695
Mining Production -8.50
percent
14.96 15.32 15.05 15.02 15.04
Competitiveness Index 52.67
Points
53.17 53.17 53.17 53.17 55.67
Competitiveness Rank 100.00
100 100 100 100 100
Corruption Index 51.00
Points
51 51 51 51 51
Corruption Rank 53.00
53 53 53 53 53
Ease of Doing Business 107.00
107 108 108 108 110
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Spending 83929.00
NAD Million
84684 85020 85188 90067 89316
Disposable Personal Income 136626.00
NAD Million
144574 146424 148273 150123 165264
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 32.00
percent
32 32 32 32 32
Personal Income Tax Rate 37.00
percent
37 37 37 37 37
Sales Tax Rate 15.00
percent
15 15 15 15 15
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Precipitation 29.45
mm
21.98 60.93 22.55 22.53 23.52
Temperature 25.25
celsius
23.35 23.64 21.23 21.5 21



Namibia - Economic Forecasts - 2018-2020 Outlook