Flag: a large blue triangle with a yellow sunburst fills the upper left section, and an equal green triangle (solid) fills the lower right section; the triangles are separated by a red stripe which is contrasted by two narrow white edge borders
- Economy Overview: The economy is heavily dependent on the mining industry to extract and process minerals for export. Mining accounts for almost 35% of GDP, agriculture and fisheries 10-15%, and manufacturing about 5%. Namibia is the fourth-largest exporter of nonfuel minerals in Africa and the world's fifth-largest producer of uranium. Alluvial diamond deposits are among the richest in the world, making Namibia a primary source for gem-quality diamonds. Namibia also produces large quantities of lead, zinc, tin, silver, and tungsten, and it has substantial resources of coal.
GNP: $1.54 billion, per capita $1,245; real growth rate 2.9% (1987)
Inflation rate (consumer prices): 15.1% (1989)
Unemployment rate: over 30% (1988)
Budget: revenues $781 million; expenditures $932 million, including capital expenditures of $NA (FY88)
Exports: $935 million (f.o.b., 1988); commodities—diamonds, uranium, zinc, copper, meat, processed fish, karakul skins; partners—South Africa
Imports: $856 million (f.o.b., 1988); commodities—foodstuffs, manufactured consumer goods, machinery and equipment; partners—South Africa, FRG, UK, US
External debt: about $27 million at independence; under a 1971 International Court of Justice (ICJ) ruling, Namibia may not be liable for debt incurred during its colonial period
Industrial production: growth rate NA%