Markets Actual Q1 Q2 Q3 Q4 2023
Currency 15.21 15.26 15.43 15.61 15.78 16.14
Stock Market (points) 1629.48 1583 1524 1467 1412 1308

Overview Actual Q1 Q2 Q3 Q4 2023
GDP Growth Rate (%) -1.39 -1.5 -0.8 3 0.7 1
GDP Annual Growth Rate (%) 2.40 1.7 2 2.1 2.4 1.5
Unemployment Rate (%) 33.40 36 36 36 36 34.5
Inflation Rate (%) 4.50 4 3.6 3.4 3.2 2.8
Interest Rate (%) 3.75 4 4 4 4 3.75
Balance of Trade (NAD Million) -6262.00 -3000 -6400 -6100 -6100 -6000
Current Account (NAD Million) -3076.00 -1300 2000 2000 -700 -1500
Current Account to GDP (% of GDP) 1.90 -1.8 -1.8 -1.8 -1.8 -1.6
Government Debt to GDP (% of GDP) 69.60 72 72 72 72 75
Government Budget (% of GDP) -9.50 -7.4 -7.4 -7.4 -7.4 -7.4
Corporate Tax Rate (%) 32.00 32 32 32 32 32
Personal Income Tax Rate (%) 37.00 37 37 37 37 37

GDP Actual Q1 Q2 Q3 Q4 2023
GDP Growth Rate (%) -1.39 -1.5 -0.8 3 0.7 1
GDP Annual Growth Rate (%) 2.40 1.7 2 2.1 2.4 1.5
GDP (USD Billion) 10.70 12.5 12.5 12.5 12.5 13.4
GDP Constant Prices (NAD Million) 32451.40 32097 33396 33133 33230 33729
Gross National Product (NAD Million) 173343.23 176290 176810 176983 177503 180166
Gross Fixed Capital Formation (NAD Million) 19654.00 19988 20047 20067 20126 20428
GDP per capita (USD) 4084.24 4300 4300 4300 4300 4500
GDP per capita PPP (USD) 8893.81 9410 9410 9410 9750 9750
GDP From Agriculture (USD Million) 1101.70 961 2684 1125 1128 1145
GDP From Construction (USD Million) 417.30 575 482 426 427 434
GDP From Manufacturing (USD Million) 3421.70 3157 3619 3494 3504 3556
GDP From Mining (USD Million) 3331.10 2935 2927 3401 3411 3462
GDP From Public Administration (USD Million) 5047.60 3942 4035 5154 5169 5246
GDP From Transport (USD Million) 1005.00 1022 1025 1026 1029 1045

Labour Actual Q1 Q2 Q3 Q4 2023
Unemployment Rate (%) 33.40 36 36 36 36 34.5
Population (Million) 2.50 2.6 2.6 2.6 2.64 2.64
Labor Force Participation Rate (%) 71.20 71.5 71.5 71.5 71.5 71.3
Employed Persons (Thousand) 725742.00 670000 670000 670000 670000 705000
Unemployed Persons (Thousand) 364411.00 395000 395000 395000 395000 380000
Youth Unemployment Rate (%) 46.10 49 49 49 49 47.4

Prices Actual Q1 Q2 Q3 Q4 2023
Inflation Rate (%) 4.50 4 3.6 3.4 3.2 2.8
Consumer Price Index CPI (points) 148.20 150 151 151 153 157
Food Inflation (%) 5.10 5 5.2 4.9 5 4.4
Import Prices (points) 106.90 97.6 97.6 97.6 98 98
Inflation Rate Mom (%) 0.40 0.4 0.2 0.3 0.2 0.2
Export Prices (points) 128.20 107 107 107 108 108
CPI Housing Utilities (points) 135.10 140 140 140 139 143
CPI Transportation (points) 155.10 156 156 156 157 157

Money Actual Q1 Q2 Q3 Q4 2023
Interest Rate (%) 3.75 4 4 4 4 3.75
Money Supply M1 (NAD Million) 69078.00 61000 62400 62400 62000 60500
Money Supply M2 (NAD Million) 129900.30 125000 122000 122000 120000 117000
Foreign Exchange Reserves (NAD Million) 41027.85 34300 33800 33800 34000 34000
Deposit Interest Rate (%) 4.16 4.41 4.41 4.41 4.41 4.16
Lending Rate (%) 7.50 7.75 7.75 7.75 7.75 7.5
Money Supply M0 (NAD Million) 8658.11 7000 7500 7500 7250 7100
Central Bank Balance Sheet (NAD Million) 41784.30 35000 34000 34000 34500 32000

Trade Actual Q1 Q2 Q3 Q4 2023
Balance of Trade (NAD Million) -6262.00 -3000 -6400 -6100 -6100 -6000
Current Account (NAD Million) -3076.00 -1300 2000 2000 -700 -1500
Current Account to GDP (% of GDP) 1.90 -1.8 -1.8 -1.8 -1.8 -1.6
Exports (NAD Million) 11659.00 14100 15000 15000 15000 15300
Imports (NAD Million) 11659.00 20500 21100 21100 21000 23000
Capital Flows (NAD Million) -1481.00 1000 -300 -300 -600 -1200
Foreign Direct Investment (NAD Million) 450.00 400 280 280 500 500
External Debt (NAD Million) 33065.00 33100 33100 33100 33100 34000
Terms Of Trade (points) 119.90 110 110 110 108 108
Tourist Arrivals (Persons) 1595973.00 1450000 1450000 1450000 1450000 1480000

Government Actual Q1 Q2 Q3 Q4 2023
Government Debt to GDP (% of GDP) 69.60 72 72 72 72 75
Government Budget (% of GDP) -9.50 -7.4 -7.4 -7.4 -7.4 -7.4
Government Spending (NAD Million) 39311.00 39979 40097 40137 40254 40858
Government Debt (NAD Million) 111507.00 114000 114000 114000 114000 115000
Military Expenditure (USD Million) 417.00 470 470 470 470 500

Taxes Actual Q1 Q2 Q3 Q4 2023
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 Q1 Q2 Q3 Q4 2023
Mining Production (%) -1.50 45 12 12 15 8

Consumer Actual Q1 Q2 Q3 Q4 2023
Consumer Spending (NAD Million) 99451.00 101142 101440 101539 101838 103365
Disposable Personal Income (NAD Million) 173907.00 176863 177385 177559 178081 180752


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Namibia Forecast - was last updated on Wednesday, January 26, 2022.