Overview: The economy is heavily dependent on the mining industry to extract and process minerals for export. Mining accounts for almost 40% 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: $1.25 billion, per capita $1,060; real growth rate 3.5% (1986)

Inflation rate (consumer prices): 13.4% (1986)

Unemployment rate: 21% (1984)

Budget: revenues $781 million; expenditures $932 million, including capital expenditures of $NA (FY88)

Exports: $889 million (f.o.b., 1987); @m5commodities--diamonds, uranium, zinc, copper, meat, processed fish, karakul skins; @m5partners--South Africa

Imports: $842 million (f.o.b., 1987); @m5commodities--foodstuffs, manufactured consumer goods, machinery and equipment; @m5partners--South Africa, FRG, UK, US

External debt: $NA

Industrial production: growth rate NA%

Electricity: 432,000 kW capacity; 856 million kWh produced, 660 kWh per capita (1988)

Industries: meatpacking, fish processing, dairy products, mining (copper, lead, zinc, diamond, uranium)

Agriculture: livestock raising (cattle and sheep) predominates; subsistence crops (millet, sorghum, corn, and some wheat) are grown, but most food must be imported

Aid: NA

Currency: South African rand (plural--rand); 1 South African rand (R) = 100 cents

Exchange rates: South African rand (R) per US$1--2.3866 (January 1989), 2.2609 (1988), 2.0350 (1987), 2.2686 (1986), 2.1911 (1985)

Fiscal year: 1 April-31 March

NOTE: The information regarding Namibia on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Namibia Economy 1989 information contained here. All suggestions for corrections of any errors about Namibia Economy 1989 should be addressed to the CIA.