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Oshivambo languages 48.9%, Nama/Damara 11.3%, Afrikaans 10.4% (common language of most of the population and about 60% of the white population), Otjiherero languages 8.6%, Kavango languages 8.5%, Caprivi languages 4.8%, English (official) 3.4%, other African languages 2.3%, other 1.7%
WINDHOEK (capital) 368,000 (2015)
- Designação longa convencional
- Republic of Namibia
- Abreviatura
- Namibia
- Forma longa local
- Republic of Namibia
- Forma curto local
- Namibia
presidential republic
- Nome
- Windhoek
- Coordenadas Geográficas
- 22 34 S, 17 05 E
- Fuso horário
- UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
- Horário de verão
- +1hr, begins first Sunday in September; ends first Sunday in April
has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction
Namibia’s economy is heavily dependent on the extraction and processing of minerals for export. Mining accounts for 11.5% of GDP, but provides more than 50% of foreign exchange earnings. Rich alluvial diamond deposits make Namibia a primary source for gem-quality diamonds. Marine diamond mining is increasingly important as the terrestrial diamond supply has dwindled. The rising cost of mining diamonds, especially from the sea, combined with increased diamond production in Russia and China, has reduced profit margins. Namibian authorities have emphasized the need to add value to raw materials, do more in-country manufacturing, and exploit the services market, especially in the logistics and transportation sectors.
- Inflação
- 3,406%
- Taxa de imposto total (% dos lucros empresa)
- 20,7%
- Taxa de juro real
- 7,947%
- Produção, valor acrescentado (% PIB)
- 9,066%
- Saldo Corrente
- US$ -1.528.695.550
- Força de trabalho, total
- 935.110
- Emprego na Agricultura
- 31,40%
- Emprego na Industria
- 14,43%
- Emprego nos Serviços
- 54,17%
- Taxa de Desemprego
- 25,59%
- Importação de Produtos e Serviços
- US$ 7.805.329.887
- Exportação de Produtos e Serviços
- US$ 5.069.789.081
- Total Comércio de Mercadorias
- 105,35%
- IDE, entradas líquidas
- US$ 1.059.869.870
- Exportações de serviços comerciais
- US$ 911.825.812
millet, sorghum, peanuts, grapes; livestock; fish
meatpacking, fish processing, dairy products, pasta, beverages; mining (diamonds, lead, zinc, tin, silver, tungsten, uranium, copper)
- Mercadorias
- diamonds, copper, gold, zinc, lead, uranium; cattle, white fish and mollusks
- Parceiros
- Mercadorias
- foodstuffs; petroleum products and fuel, machinery and equipment, chemicals
- Parceiros
- Índice de Risco do País
- B
- Political and economic uncertainties and an occasionally difficult business environment can affect corporate payment behavior. Corporate default probability is appreciable.
- Classificação de Clima de Negócios
- A4
- The business environment is acceptable. Corporate financial information is sometimes neither readily available nor sufficiently reliable. Debt collection is not always efficient and the institutional framework has shortcomings. Intercompany transactions may thus run into appreciable difficulties in the acceptable but occasionally unstable environments rated A4.
- Considerable mineral resources (diamonds, uranium, copper)
- Tourism potential
- Good transport infrastructure
- Political instability
- Dependence on the mining sector (50% of exports)
- Dependence on South Africa
- Very high unemployment (28%) and high levels of inequality
Economic activity is expected to increase in 2017. Uranium production will increase sharply, in connection with increased capacity at the Husab mine, exploitation of which will begin in the first quarter of 2017, making the country the world's third largest producer. More broadly, the mining sector is expected to pick up, against a backdrop of moderate increases in prices for mining products. Specifically, increased production at the Otjikoto gold mine and the Tschud copper mine, commissioned in 2015, will sustain activity. Diamond mining is also expected to confirm its recovery. Meanwhile, the agricultural sector is expected to recover from the intense drought caused by El Niño in 2016. Moreover, the development of livestock rearing appears promising, given that exports of Namibian beef have been authorized on key markets (United States, Hong Kong and China) since 2016. At the same time, the manufacturing, transport and communications sectors are likely to remain lively. Namibia has a sophisticated financial system. However, government cuts in investment spending will impede progress on infrastructure projects, which could in turn hamper construction.
Inflation, fueled by high prices in South Africa, Namibia's main supplier, specifically of food, is expected to remain strong in 2017. The rather tight monetary policy could prevent it from exceeding the 6% target set by the monetary authorities.
In 2016, the public deficit widened significantly as a result of the government's expansionary fiscal policy adopted in order to support growth. However, in autumn 2016, the government embarked on a process of fiscal consolidation, which should help reduce the deficit in 2017. This is because, a decline in capital spending is anticipated, while current spending will remain stable and still directed towards the key sectors (health, education…). At the same time, income related to mining exports will boost revenues. Moreover, customs duties returned to Namibia under the South African Customs Union, which contribute about a third of the country's tax receipts, will remain modest. Finally, although tax collection is not ideal, progress will start to be made once a new tax office has been established at the beginning of the 2017/2018 financial year.
In 2017, the public debt could still exceed the cap of 35% of GDP set by the government. In essence this is local debt (70%), mostly denominated in Namibian dollars and in South African Rands.
The current account deficit could narrow in 2017. Exports will be higher, especially those of uranium. The expected increase in the price of and demand for diamonds (almost 27% of exports) will thus boost exports of mining products. In addition, the economic partnership agreement, providing for duty-free and quota-free access to the European market, concluded in June 2016 between the European Union and six countries of the Southern African Development Community (including Namibia), will offer promising trade prospects. Namibian exports will remain vulnerable to the evolution of growth in South Africa (the country's primary trading partner, accounting for almost a quarter of exports), which will remain weak in 2017. Finally with the expected slowdown in infrastructure projects, imports of capital goods are likely to be less dynamic.
In 2017, the Namibian dollar, pegged to the South African rand, will continue to be vulnerable to the downward pressure and high volatility of South Africa's currency.
The Swapo, in power since independence (1990), dominates the political stage. Its candidate, Hage Geingob, was elected as president with 87% of the votes cast in November 2014, succeeding H. Pohamba who, under the constitution, was unable to stand for a third term. Meanwhile, the opposition remains split and is struggling to make itself heard. The measures in favour of education, social spending and employment are expected to continue to contain social tensions. Progress on combatting poverty, inequality and unemployment are subject to the effectiveness of the Harambee towards Prosperity for All (2016-2021) development plan, which includes a social support program. The country is among best-ranked countries in Sub-Saharan Africa according to the World Bank's governance indicators. Its performances, which are improving with regard to the rule of law and political freedom, are deteriorating with regard to the fight against corruption (ranked 73rd in 2015 against 71st in 2010) but are still better than those of most countries in the region. Namibia is ranked 108th out of 190 in the 2017Doing Business Index.