Markets Actual Q3 Q4 Q1 Q2 2022
Currency 14.74 14.91 15.08 15.25 15.43 15.78
Stock Market (points) 1372.00 907 583 375 241 99.87

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) -6.11 -3.5 -2 -1.5 -0.8 0.3
GDP Annual Growth Rate (%) -6.50 0.8 1.4 2 1.6 2.4
Unemployment Rate (%) 33.40 36.8 36.8 36 36 36
Inflation Rate (%) 3.40 3.8 3.6 3.4 3.2 3
Interest Rate (%) 3.75 3.75 3.75 3.5 3.5 3.5
Balance of Trade (NAD Million) -8268.41 -5100 -3000 -5550 -6400 -6000
Current Account (NAD Million) -4001.50 -700 -1000 -1300 2000 -700
Current Account to GDP (% of GDP) 1.90 -2.1 -2.1 -1.8 -1.8 -1.8
Government Debt to GDP (% of GDP) 69.60 70.2 70.2 72 72 72
Government Budget (% of GDP) -9.50 -9.4 -9.4 -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 Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) -6.11 -3.5 -2 -1.5 -0.8 0.3
GDP Annual Growth Rate (%) -6.50 0.8 1.4 2 1.6 2.4
GDP (USD Billion) 10.70 11 11 12.5 12.5 12.5
GDP Constant Prices (NAD Million) 31938.70 32200 35697 32577 32450 36553
Gross National Product (NAD Million) 173343.23 175039 187866 176810 176117 179989
Gross Fixed Capital Formation (NAD Million) 19654.00 23564 24085 20047 19968 20407
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) 930.20 1042 1072 949 945 1845
GDP From Construction (USD Million) 537.80 721 1250 549 546 776
GDP From Manufacturing (USD Million) 3001.20 3396 2800 3061 3049 4393
GDP From Mining (USD Million) 2979.30 2365 2927 3039 3027 3011
GDP From Public Administration (USD Million) 3891.70 5102 3179 3970 3954 4605
GDP From Transport (USD Million) 1005.00 798 1524 1025 1021 838

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 33.40 36.8 36.8 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 71.3 71.5 71.5 71.5
Employed Persons (Thousand) 725742.00 640000 640000 670000 670000 670000
Unemployed Persons (Thousand) 364411.00 410000 410000 395000 395000 395000
Youth Unemployment Rate (%) 46.10 50.3 50.3 49 49 49

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 3.40 3.8 3.6 3.4 3.2 3
Consumer Price Index CPI (points) 145.98 147 147 149 151 151
Food Inflation (%) 6.10 6.5 6 4.9 5 4.5
Import Prices (points) 97.70 97.6 97.6 97.6 97.6 98
Inflation Rate Mom (%) -0.20 0.4 0.3 0.3 0.2 0.2
Export Prices (points) 107.20 107 107 107 107 108
Cpi Housing Utilities (points) 135.00 138 138 140 139 142
CPI Transportation (points) 148.80 144 141 146 152 145

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 3.75 3.75 3.75 3.5 3.5 3.5
Money Supply M1 (NAD Million) 61847.90 63700 63500 61000 62400 62000
Money Supply M2 (NAD Million) 121543.70 127000 124000 125000 122000 120000
Foreign Exchange Reserves (NAD Million) 42696.10 33400 34500 34300 33800 34000
Deposit Interest Rate (%) 4.16 4.16 4.16 3.91 3.91 3.91
Lending Rate (%) 8.50 8.5 8.5 8.25 8.25 8.25
Money Supply M0 (NAD Million) 7988.03 8400 7300 7000 7500 7250
Central Bank Balance Sheet (NAD Million) 43821.60 37000 35800 35000 34000 34500

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (NAD Million) -8268.41 -5100 -3000 -5550 -6400 -6000
Current Account (NAD Million) -4001.50 -700 -1000 -1300 2000 -700
Current Account to GDP (% of GDP) 1.90 -2.1 -2.1 -1.8 -1.8 -1.8
Imports (NAD Million) 17297.74 17800 19000 20500 21100 21000
Exports (NAD Million) 9029.32 13600 13450 14100 15000 15000
Capital Flows (NAD Million) -3373.10 -1000 -750 1000 -300 -600
Foreign Direct Investment (NAD Million) 1822.87 -1000 -1200 400 280 500
External Debt (NAD Million) 33065.00 32500 32500 33100 33100 33100
Terms Of Trade (points) 109.70 110 110 110 110 108
Tourist Arrivals (Persons) 1595973.00 1300000 1300000 1450000 1450000 1450000

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 69.60 70.2 70.2 72 72 72
Government Budget (% of GDP) -9.50 -9.4 -9.4 -7.5 -7.5 -7.5
Government Spending (NAD Million) 39311.00 40241 29914 40097 39940 40818
Government Debt (NAD Million) 111507.00 112000 112000 114000 114000 114000
Military Expenditure (USD Million) 417.00 430 430 470 470 470

Taxes Actual Q3 Q4 Q1 Q2 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 Q3 Q4 Q1 Q2 2022
Mining Production (%) -1.50 25 16 45 12 15

Consumer Actual Q3 Q4 Q1 Q2 2022
Consumer Spending (NAD Million) 99451.00 110537 87330 101440 101042 103264
Disposable Personal Income (NAD Million) 173907.00 176605 142163 177385 176690 180574


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.