mailing address: use embassy street address
telephone: [264] (61) 221601
FAX: [264] (61) 229792
Flag description: 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 that is contrasted by two narrow white-edge borders
Namibia Economy
Economy - overview: The economy is heavily dependent on the extraction and processing of minerals for export. Mining accounts for 20% 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. Although per capita GDP is four times the per capita GDP of Africa's poorer countries, the majority of Namibia's people live in pronounced poverty because of large-scale unemployment, the great inequality of income distribution, and the large amount of wealth going to foreigners. The Namibian economy has close links to South Africa. GDP growth in 2000 was led by gains in the diamond and fish sectors. Agreement has been reached on the privatization of several more enterprises in coming years, which should stimulate long-run foreign investment. Growth in 2001 could be 5.5% provided the world economy remains stable.
GDP: purchasing power parity - $7.6 billion (2000 est.)
GDP - real growth rate: 4% (2000 est.)
GDP - per capita: purchasing power parity - $4,300 (2000 est.)
GDP - composition by sector: agriculture: 12%