Discusses key economic indicators and trade statistics, which countries are dominant in the market, and other issues that affect trade.
Namibia has a population of 2.5 million, but with the recently completed expansion of the port at Walvis Bay, the country is positioning itself as a gateway to the more than 240 million people in the broader Southern Africa market. Namibia enjoys one of the most stable, peaceful political environments in Africa. Primary infrastructure (roads, rail, air, energy, and telecommunications) is relatively well developed and modern. The economy is mostly export-driven. Mining, tourism, fishing, and agriculture are Namibia’s key industries. While the United States is among Namibia’s top ten trading partners, imports into Namibia are dominated by South Africa, which is the source of 45 percent of Namibia’s total imports. The Namibian dollar (N$) is pegged one to one (1:1) to the South African Rand (ZAR).
The World Bank ranked Namibia 104 among 190 countries in its 2019 Doing Business Report.