Markets Actual Q3 Q4 Q1 Q2 2023
Currency 16.71 16.72 17.11 17.52 17.93 18.79
Stock Market (points) 1425.95 1404 1348 1294 1242 1144

Overview Actual Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) -0.56 3 0.7 0.7 0.7 1
GDP Annual Growth Rate (%) 5.30 2.7 3 1.8 2.3 2.3
Unemployment Rate (%) 33.40 36.7 36.7 36.7 36 36
Inflation Rate (%) 5.40 6.3 5.9 5 4.5 4
Interest Rate (%) 4.75 5 5 5.25 5.5 6
Balance of Trade (NAD Million) -5348.69 -6100 -6100 -6000 -6000 -7700
Current Account (NAD Million) -3080.00 2000 -700 -700 -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 Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) -0.56 3 0.7 0.7 0.7 1
GDP Annual Growth Rate (%) 5.30 2.7 3 1.8 2.3 2.3
GDP (USD Billion) 12.24 12.5 12.5 12.5 12.5 13.4
GDP Constant Prices (NAD Million) 33994.00 34878 34786 37507 34606 38370
Gross National Product (NAD Million) 177995.29 177677 178023 183335 181199 187552
Gross Fixed Capital Formation (NAD Million) 20227.00 19850 19889 20834 20591 21313
GDP per capita (USD) 4074.51 4300 4300 4300 4300 4500
GDP per capita PPP (USD) 9805.18 9410 9750 9750 9750 9750
GDP From Agriculture (USD Million) 1017.00 2803 1166 1977 1035 2022
GDP From Construction (USD Million) 609.00 613 552 675 620 690
GDP From Manufacturing (USD Million) 3564.00 3689 3787 4115 3628 4209
GDP From Mining (USD Million) 3647.00 3209 3600 3957 3713 4048
GDP From Public Administration (USD Million) 3781.00 4064 5189 4451 3849 4553
GDP From Transport (USD Million) 1087.00 888 884 869 1107 889

Labour Actual Q3 Q4 Q1 Q2 2023
Unemployment Rate (%) 33.40 36.7 36.7 36.7 36 36
Population (Million) 2.50 2.6 2.64 2.64 2.64 2.64
Employed Persons (Thousand) 725742.00 670000 670000 670000 670000 705000
Labor Force Participation Rate (%) 71.20 71.5 71.5 71.5 71.5 71.3
Unemployed Persons (Thousand) 364411.00 395000 395000 395000 395000 380000
Youth Unemployment Rate (%) 46.10 49 49 49 49 47.4

Prices Actual Q3 Q4 Q1 Q2 2023
Inflation Rate (%) 5.40 6.3 5.9 5 4.5 4
Consumer Price Index CPI (points) 153.14 156 157 158 160 163
Food Inflation (%) 6.60 5.7 6 5.7 5.3 5
CPI Housing Utilities (points) 136.77 144 143 144 143 149
CPI Transportation (points) 167.78 168 169 170 170 171
Export Prices (points) 128.20 107 108 108 108 108
Inflation Rate Mom (%) 0.10 0.4 0.5 0.2 0.3 0.4
Import Prices (points) 106.90 97.6 98 98 98 98

Money Actual Q3 Q4 Q1 Q2 2023
Interest Rate (%) 4.75 5 5 5.25 5.5 6
Money Supply M1 (NAD Million) 68171.60 62400 62000 62000 62000 60500
Money Supply M2 (NAD Million) 129097.70 122000 120000 120000 120000 117000
Foreign Exchange Reserves (NAD Million) 40751.41 33800 34000 34000 34000 34000
Deposit Interest Rate (%) 4.02 4.02 4.27 4.27 4.52 5.02
Central Bank Balance Sheet (NAD Million) 41784.30 34000 34500 34500 34500 32000
Lending Rate (%) 7.75 7.75 8 8 8.25 8.75
Money Supply M0 (NAD Million) 8618.24 7500 7250 7250 7250 7100

Trade Actual Q3 Q4 Q1 Q2 2023
Balance of Trade (NAD Million) -5348.69 -6100 -6100 -6000 -6000 -7700
Current Account (NAD Million) -3080.00 2000 -700 -700 -700 -1500
Current Account to GDP (% of GDP) 1.90 -1.8 -1.8 -1.8 -1.8 -1.6
Imports (NAD Million) 22821.24 21100 21000 21000 21000 23000
Exports (NAD Million) 17472.54 15000 15000 15000 15000 15300
Capital Flows (NAD Million) -1746.40 -300 -600 -600 -600 -1200
Foreign Direct Investment (NAD Million) 450.00 280 500 500 500 500
External Debt (NAD Million) 33065.00 33100 33100 33100 33100 34000
Terms Of Trade (points) 119.90 110 108 108 108 108
Tourist Arrivals 1595973.00 1450000 1450000 1450000 1450000 1480000

Government Actual Q3 Q4 Q1 Q2 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) 41185.00 41537 41618 42421 41926 43396
Government Debt (NAD Million) 111507.00 114000 114000 114000 114000 115000
Military Expenditure (USD Million) 417.00 470 470 470 470 500

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

Consumer Actual Q3 Q4 Q1 Q2 2023
Consumer Spending (NAD Million) 107529.00 99327 99520 110755 109465 113302
Disposable Personal Income (NAD Million) 172750.00 178937 179286 177933 175860 182025


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 Thursday, July 7, 2022.