Namibia
Namibia is a small economy with an overreliance on certain key exports, namely diamonds, copper and fish. Relatively large fiscal deficits since 2009 and challenges in narrowing the shortfall have caused rapidly rising government external debt levels. The country has low political risk, characterised by regular, peaceful, democratic elections.
Economic growth continues to dry up in the desert economy, largely due to a double blow of severe drought and a slump in diamond production, but also due to continued weakness in the construction and retail industries. Despite increased opposition to the ruling Swapo party and concerns over the credibility of electronic voting, we expect Namibia’s fifth post-independence election on 27 November 2019 to deliver a largely credible result that reflects the will of the people to a significant extent. (Source: Namibia Quarterly Update, September 2019)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-4.6 |
|
Consumer Price Index (% change y-o-y, avg) |
4.3 |
|
Current Account Balance (as a % of GDP) |
-1.8 |
|
Real GDP (annual % change) |
-0.5 |
|
GDP per capital, US$ |
5,922.3 |
|
Import Cover (months) |
4.0 |
|
Population, million |
2.5 |
| Total External Debt (as a % of GDP) |
58.0 |