Markets Actual Q1 Q2 Q3 Q4 2022
Currency 14.59 14.81 14.96 15.11 15.27 15.59
Stock Market (points) 1344.86 1314 1279 1245 1212 1146

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) -0.72 -0.4 0.7 -0.6 1 0.7
GDP Annual Growth Rate (%) -10.50 -3 7.2 7 2.6 2.8
Unemployment Rate (%) 33.40 36.8 36.8 36.8 36.8 37.7
Inflation Rate (%) 2.70 2.4 2.2 2.7 3 2.8
Interest Rate (%) 3.75 3.75 3.5 3.25 3.25 3.25
Balance of Trade (NAD Million) -6420.00 -2000 -4800 -4100 -3000 -4550
Current Account (NAD Million) -478.60 -1400 -1400 -500 -700 -700
Current Account to GDP (%) -2.30 -3.5 -3.5 -3.5 -3.5 -3.2
Government Debt to GDP (%) 69.60 66 66 66 66 70
Government Budget (% of GDP) -12.50 -7.2 -7.2 -7.2 -7.2 -6
Corporate Tax Rate (%) 32.00 32 32 32 32 32
Personal Income Tax Rate (%) 37.00 37 37 37 37 37

GDP Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) -0.72 -0.4 0.7 -0.6 1 0.7
GDP Annual Growth Rate (%) -10.50 -3 7.2 7 2.6 2.8
GDP (USD Billion) 12.37 11 11 11 11 12.4
GDP Constant Prices (NAD Million) 32169.00 32998 34331 34421 33005 33930
Gross National Product (NAD Million) 173649.85 168440 186153 185805 178165 183153
Gross Fixed Capital Formation (NAD Million) 30378.00 29467 32565 32504 31168 32041
GDP per capita (USD) 5766.00 4800 4800 4800 4800 5350
GDP per capita PPP (USD) 9637.20 9410 9410 9410 9410 9750
GDP From Agriculture (USD Million) 1006.40 928 2781 1077 1033 1061
GDP From Construction (USD Million) 967.40 844 764 1035 993 1020
GDP From Manufacturing (USD Million) 3438.80 3840 3983 3680 3528 3627
GDP From Mining (USD Million) 2377.30 3494 3149 2544 2439 2507
GDP From Public Administration (USD Million) 5110.10 3747 4093 5468 5243 5390
GDP From Transport (USD Million) 845.00 1106 759 904 867 891

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 33.40 36.8 36.8 36.8 36.8 37.7
Population (Million) 2.55 2.6 2.6 2.6 2.6 2.64
Labor Force Participation Rate (%) 71.20 71.3 71.3 71.3 71.3 71.5
Employed Persons (Thousand) 725742.00 670000 670000 670000 670000 720000
Unemployed Persons (Thousand) 364411.00 380000 380000 380000 380000 375000
Youth Unemployment Rate (%) 46.10 48.8 48.8 48 48 48

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 2.70 2.4 2.2 2.7 3 2.8
Consumer Price Index CPI (points) 143.13 143 143 145 146 150
Food Inflation (%) 5.20 5 4.7 4.3 4 3.2
Import Prices (points) 97.70 97.6 97.6 97.6 97.6 98
Inflation Rate Mom (%) 0.90 0.3 0.5 0.4 0.5 0.6
Export Prices (points) 107.20 107 107 107 107 108
Cpi Housing Utilities (points) 134.88 137 136 137 137 141
CPI Transportation (points) 136.61 141 137 142 140 144

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 3.75 3.75 3.5 3.25 3.25 3.25
Foreign Exchange Reserves (NAD Million) 31751.70 35000 34000 35000 35000 35500
Deposit Interest Rate (%) 4.16 4.16 3.91 3.66 3.66 3.66
Lending Rate (%) 7.50 7.5 7.25 7 7 7
Money Supply M0 (NAD Million) 8222.90 8600 8600 8600 8600 8030
Central Bank Balance Sheet (NAD Million) 32311.88 36700 36500 37000 37000 37500

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (NAD Million) -6420.00 -2000 -4800 -4100 -3000 -4550
Current Account (NAD Million) -478.60 -1400 -1400 -500 -700 -700
Current Account to GDP (%) -2.30 -3.5 -3.5 -3.5 -3.5 -3.2
Imports (NAD Million) 17337.00 16800 17500 20000 18000 20500
Exports (NAD Million) 10917.00 12000 13400 13600 13450 15000
Capital Flows (NAD Million) -650.50 1300 300 -1000 -750 -600
Foreign Direct Investment (NAD Million) -2082.35 -1400 1400 800 1200 1600
External Debt (NAD Million) 30852.00 38000 38000 38000 38000 36500
Terms Of Trade (points) 109.70 110 110 110 110 108
Tourist Arrivals (Persons) 1595973.00 1450000 1450000 1450000 1450000 1450000

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 69.60 66 66 66 66 70
Government Budget (% of GDP) -12.50 -7.2 -7.2 -7.2 -7.2 -6
Government Spending (NAD Million) 39480.00 38296 42323 42244 40506 41641
Government Debt (NAD Million) 111507.00 97000 97000 97000 97000 97000
Military Expenditure (USD Million) 436.00 380 380 380 420 420

Taxes Actual Q1 Q2 Q3 Q4 2022
Corporate Tax Rate (%) 32.00 32 32 32 32 32
Personal Income Tax Rate (%) 37.00 37 37 37 37 37
Sales Tax Rate (%) 15.00 15 15 15 15 15

Business Actual Q1 Q2 Q3 Q4 2022
Mining Production (%) -22.60 12 5 -3 6 15

Consumer Actual Q1 Q2 Q3 Q4 2022
Consumer Spending (NAD Million) 107747.00 104515 115505 115289 110548 113644
Disposable Personal Income (NAD Million) 131952.00 127993 141453 141189 135383 139173


This page has economic forecasts for Namibia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Namibia economy.