Overview: The economy is heavily dependent on the mining industry to extract and process minerals for export. Mining accounts for almost 30% of GDP. 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. More than half the population depends on agriculture (largely subsistence agriculture) for its livelihood.

GNP: $1.8 billion, per capita $1,240; real growth rate - 2.0% (1990 est.)

Inflation rate (consumer prices): 15.1% (1989)

Unemployment rate: over 30% (1990)

Budget: revenues $794.1 million; expenditures $999.6 million, including capital expenditures of $NA (FY91 est.)

Exports: $1,021 million (f.o.b., 1989); commodities--uranium, diamonds, zinc, copper, cattle, processed fish, karakul skins; partners--Switzerland, South Africa, FRG, Japan

Imports: $894 million (f.o.b., 1989); commodities--foodstuffs, petroleum products and fuel, machinery and equipment; partners--South Africa, FRG, US, Switzerland

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: 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

Economic 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--2.625 (January 1991), 2.5863 (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 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Namibia Economy 1991 information contained here. All suggestions for corrections of any errors about Namibia Economy 1991 should be addressed to the CIA.