Economy
Economy - overview: The economy is heavily dependent on the extraction and processing of minerals for export. Mining accounts for almost 25% of GDP. Namibia is the fourth-largest exporter of nonfuel minerals in Africa and the world's fifth-largest producer of uranium. Rich alluvial diamond deposits make Namibia a primary source for gem-quality diamonds. Namibia also produces large quantities of lead, zinc, tin, silver, and tungsten. Half of the population depends on agriculture (largely subsistence agriculture) for its livelihood. Namibia must import some of its food.
GDP: purchasing power parity - $6.2 billion (1996 est.)
GDP - real growth rate: 1.5% (1996 est.)
GDP - per capita: purchasing power parity - $3,700 (1996 est.)
GDP - composition by sector: agriculture: 15% industry: 20% services: 65% (1995 est.)
Inflation rate - consumer price index: 8% (1996 est.)
Labor force: total: 500,000 by occupation: agriculture 49%, industry and commerce 25%, services 5%, government 18%, mining 3% (1994 est.)
Unemployment rate: 21.8% (1993)
Budget: revenues : $1.1 billion expenditures: $1.2 billion, including capital expenditures of $193 million (FY96/97 est.)