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    Namibia Economy - 1990

      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%

      Electricity: 486,000 kW capacity; 1,280 million kWh produced, 930 kWh per capita (1989)

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

      Agriculture: accounts for 10% of GDP (including fishing); mostly subsistence farming; livestock raising major source of cash income; crops--millet, sorghum, peanuts; fish catch potential of over 1 million metric tons not being fulfilled, 1987 catch reaching only 520,000 metric tons; not self-sufficient in food

      Aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $47.2 million

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

      Exchange rates: South African rand (R) per US$1--2.5555 (January 1990), 2.6166 (1989), 2.2611 (1988), 2.0350 (1987), 2.2685 (1986), 2.1911 (1985)

      Fiscal year: 1 April-31 March

      NOTE: The information regarding Namibia on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Namibia Economy 1990 information contained here. All suggestions for corrections of any errors about Namibia Economy 1990 should be addressed to the CIA.

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    Revised 07-Feb-03
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