Economy - overview  The economy is heavily dependent on the extraction and processing of minerals for export. Mining accounts for 20% of GDP. Namibia is the fourth-largest exporter of nonfuel minerals in Africa and the world's fifth-largest producer of uranium. Rich alluvial diamond deposits make Namibia a primary source for gem-quality diamonds. Namibia also produces large quantities of lead, zinc, tin, silver, and tungsten. Half of the population depends on agriculture (largely subsistence agriculture) for its livelihood. Namibia must import some of its food. Although per capita GDP is four times the per capita GDP of Africa's poorer countries, the majority of Namibia's people live in pronounced poverty because of large-scale unemployment, the great inequality of income distribution, and the large amount of wealth going to foreigners. The Namibian economy has close links to South Africa. GDP growth should improve in 2000-01, because of gains in the diamond and fish sectors. Agreement has been reached on the privatization of several more enterprises in coming years, which should stimulate long-run foreign investment.

GDP  purchasing power parity - $7.1 billion (1999 est.)

GDP - real growth rate  3% (1999 est.)

GDP - per capita  purchasing power parity - $4,300 (1999 est.)

GDP - composition by sector  agriculture:12%
industry:30%
services:58% (1998 est.)

Population below poverty line  NA%

Household income or consumption by percentage share  lowest 10%:NA%
highest 10%:NA%

Inflation rate (consumer prices)  8.5% (1999)

Labor force  500,000

Labor force - by occupation  agriculture 47%, industry 25%, services 28% (1999 est.)

Unemployment rate  30% to 40%, including underemployment (1997 est.)

Budget  revenues:$883 million
expenditures:$950 million, including capital expenditures of $NA (1998)

Industries  meat packing, fish processing, dairy products; mining (diamond, lead, zinc, tin, silver, tungsten, uranium, copper)

Industrial production growth rate  10% (1994)

Electricity - production  1.198 billion kWh (1999)

Electricity - production by source  fossil fuel:2%
hydro:98%
nuclear:0%
other:0% (1999)

Electricity - consumption  1.81 billion kWh (1999)

Electricity - exports  56 million kWh (1999)

Electricity - imports  890 million kWh (1999)
note:imports electricity from South Africa

Agriculture - products  millet, sorghum, peanuts; livestock; fish

Exports  $1.4 billion (f.o.b., 1999 est.)

Exports - commodities  diamonds, copper, gold, zinc, lead, uranium; cattle, processed fish, karakul skins

Exports - partners  UK 43%, South Africa 26%, Spain 14%, France 8%, Japan (1998 est.)

Imports  $1.5 billion (f.o.b., 1999 est.)

Imports - commodities  foodstuffs; petroleum products and fuel, machinery and equipment, chemicals

Imports - partners  South Africa 84%, Germany, US, Japan (1995 est.)

Debt - external  $159 million (1999 est.)

Economic aid - recipient  $127 million (1998)

Currency  1 Namibian dollar (N$) = 100 cents

Exchange rates  Namibian dollars (N$) per US$1 - 6.12439 (January 2000), 6.10948 (1999), 5.52828 (1998), 4.60796 (1997), 4.29935 (1996), 3.62709 (1995)