Namibia

Republic of Namibia

English Namibian Dollar (NAD) Mixed: Roman-Dutch law, common law, customary law
AU, SADC, SACU, AfCFTA, Commonwealth, WTO
Namibia is a resource-rich, upper-middle-income country with one of Africa's highest GDP per capita levels. The economy is driven by mining (uranium, diamonds, zinc, gold), fishing, tourism, and agriculture. Namibia is the world's third-largest uranium producer.

The country is positioning itself as a global leader in green hydrogen, with the Hyphen Hydrogen Energy project (a $10 billion investment) planned for the Tsau Khaeb National Park. The Walvis Bay port is a key logistics hub for Southern African trade. Namibia benefits from its membership in SACU (common customs area with South Africa, Botswana, Lesotho, and Eswatini) and has the Namibian dollar pegged at par to the South African rand.

Namibia's New Equitable Economic Empowerment Framework (NEEEF) aims to promote economic inclusion. Challenges include high inequality (one of the world's highest Gini coefficients), unemployment above 33%, and a small domestic market.

Snapshot

Population~3.0 MWorld Bank WDI
GDP (current USD)$14.7 BIMF WEO
GDP per Capita$4,820IMF WEO
GDP Growth3.80%IMF WEO
Inflation (y/y)~5.90%Central Bank / IMF
Policy Rate (Repo rate (Bank of Namibia))7.75%Central Bank
Unemployment33.40%ILO / National Stats
Internet Use~53.00%World Bank WDI
Electrification~56.00%World Bank WDI
CPI Score (Rank)49.0/100 (#59)Transparency Intl
HDI (Rank)0.615 (#139)UNDP HDR
Credit RatingBB+ (Fitch) / Ba3 (Moody's)S&P / Moody's / Fitch
MarketNamibian Stock Exchange (NSX)

Focus Sectors

Mining (uranium
diamonds
zinc)
Fishing
Agriculture
Tourism
Manufacturing
Energy (green hydrogen potential)
Logistics (Walvis Bay port)
Financial Services
Construction
Retail

Regulations & Taxes

Corporate Income Tax32% standard (mining: varies by mineral)
VAT / Sales Tax15% standard
Data Notes: Population, GDP, and GDP per capita are latest IMF WEO / World Bank estimates. Inflation is year-over-year. Trade data from UN Comtrade/OEC (2023). Tax rates from PwC/KPMG country guides. CPI from Transparency International. HDI from UNDP Human Development Report.
Narrative last updated: April 8, 2026.