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Latest Annual Economic Data
| Real GDP growth 1.73% 31 Dec 2025 | Real GDP N$160.1 bn 31 Dec 2025 | Labour force 867 246 31 Dec 2023 |
| Nominal GDP growth 7.90% 31 Dec 2025 | Nominal GDP N$269.8 bn 31 Dec 2025 | Unemployment rate 54.8% 31 Dec 2023 |
| GDP per capita N$76 424 31 Dec 2023 | Latest annual inflation 4.4% 30 Jun 2026 | Central area dam levels 49.7% 20 Jul 2026 |
| Government budget balance N$-17.7 bn 31 Mar 2026 | Government debt as % of GDP 64.0% 31 Dec 2025 | Credit rating Moodys: B1 Fitch: BB- |
Demographics
Population
3,022,401
Capital City
Windhoek
Official Language
English
Country Area
825615 km2
Country Group
Lower Middle Income
Inflation
In ‘May ’26 headline inflation accelerated to 4.1% from 3.1% a month prior. Following Apr ’26 , inflation is primarily being driven by elevated fuel costs due to the supply shortage perpetuated by the ongoing conflict in the Middle East. Transport inflation stood at 11.5%, more than double every other basket and up from a 1.3% contraction a year prior.
All Items
Real GDP Growth
The Namibian economy grew by 3.7% in '24, down from 4.4% in '23 but nonetheless a fourth consecutive year of growth in real GDP per capita. While the primary industries contracted, growth was driven by government services, wholesale and retail trade, transport and storage, and a rebound in the long-suffering construction sector.
Real GDP growth
1.7%Private Sector Credit Extension
| Latest Figures | Date | Value (N$ millions) | % Month on Month | % Year on Year |
|---|---|---|---|---|
| Currency in Circulation (M0) | May 2026 | 5 821.449 | 3.71% | 3.52% |
| Broad Money Supply (M2) | May 2026 | 180 454.623 | -0.30% | 12.11% |
| Private Sector Credit Extension | May 2026 | 124 505.173 | -1.81% | 4.34% |
| Credit Extension to Businesses | May 2026 | 52 282.293 | -0.06% | 4.38% |
| Credit Extension to Households | May 2026 | 71 890.344 | 0.19% | 4.20% |
| Mortgage Loans | May 2026 | 60 037.169 | 0.30% | 1.57% |
| Instalment and leasing | May 2026 | 18 013.997 | 1.47% | 22.20% |
| Overdrafts | May 2026 | 12 813.119 | -4.36% | 6.00% |
Exchange Rates and Commodity Prices
USD-ZAR X-Rate
16.84
EUR-ZAR X-Rate
19.16
Gold Spot ($/Oz)
4 008.03
Copper ($/Ton)
627.55
GBP-ZAR X-Rate
22.42
Brent Crude ($/bbl)
86.82
Platinum Spot ($/Oz)
1 595.22
Uranium (U$/lb)
85.65
Current Prices of Primary NSX Shares
SILP
N$128.00
CGP
N$28.37
NAM
N$0.72
FNB
N$55.56
NBS
N$32.14
ANE
N$8.80
ORY
N$13.62
NHL
N$3.40
LHN
N$5.56
PNH
N$12.40
SNO
N$13.70
MTC
N$9.44