Namibia
Namibia is a small economy with an overreliance on certain key exports, namely diamonds, copper and fish. Relatively large fiscal deficits since 2009 and challenges in narrowing the shortfall have caused rapidly rising government external debt levels. The country has low political risk, characterised by regular, peaceful, democratic elections.
The economy is forecast to contract for a third consecutive year due to an expected decline in diamond exports, a drop in agricultural output due to severe drought, as well as weak service industry output as a result of reduced government expenditure and a slowdown in tourism. Namibia faces a potentially difficult period leading up to elections in November amid growing concerns over the allegedly ‘imperialistic’ behaviour of Mr Geingob and other senior members of Swapo. While this disturbing behaviour has trended for some time now, it is not yet a significant factor affecting political stability. (Source: Namibia Annual Country Profile, June 2019)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-6.1 |
|
Consumer Price Index (% change y-o-y, avg) |
4.3 |
|
Current Account Balance (as a % of GDP) |
-3.5 |
|
Real GDP (annual % change) |
-0.3 |
|
GDP per capital, US$ |
5,384 |
|
Import Cover (months) |
4.8 |
|
Population, million |
2.6 |
| Total External Debt (as a % of GDP) |
65.3 |