[ Nominal GDP in billions of USD ]
Year -
$13.37 billions
Namibia GDP expanded from 1980 to 2024, increasing from $2.42 billion to $13.37 billion.The compound annual growth rate (CAGR) averaged 3.96% over the period. The economy recorded its peak level in 2018 and its lowest level in 1985. Growth volatility remained high. The maximum drawdown reached 33.47%, indicating the largest cyclical decline from peak levels. The country experienced 10 recession episode(s) during the observed period.
| Metric | Nominal GDP (Current USD) | GDP (PPP, Int$) |
|---|---|---|
| Latest Year | 2024 | 2024 |
| Latest GDP | $ 13.37 Billions | $ 35.41 Int Billions |
| Growth (YoY) | 7.77% | 6.219% |
| Net Change vs Previous Year | $ 0.96 Billion | $ 2.07 Int Billion |
| % of World GDP | 0.01% | 0.02% |
| Meaning | Nominal GDP (Current USD, exchange-rate based) | GDP (PPP, cost-of-living adjusted) |
| Nominal | PPP | |||||
|---|---|---|---|---|---|---|
| Year | Bil $ | Net Chg | % Chg | Int Bil $ | Net Chg | % Chg |
| 1960 | - | - | - | - | - | - |
| 1961 | - | - | - | - | - | - |
| 1962 | - | - | - | - | - | - |
| 1963 | - | - | - | - | - | - |
| 1964 | - | - | - | - | - | - |
| 1965 | - | - | - | - | - | - |
| 1966 | - | - | - | - | - | - |
| 1967 | - | - | - | - | - | - |
| 1968 | - | - | - | - | - | - |
| 1969 | - | - | - | - | - | - |
| 1970 | - | - | - | - | - | - |
| 1971 | - | - | - | - | - | - |
| 1972 | - | - | - | - | - | - |
| 1973 | - | - | - | - | - | - |
| 1974 | - | - | - | - | - | - |
| 1975 | - | - | - | - | - | - |
| 1976 | - | - | - | - | - | - |
| 1977 | - | - | - | - | - | - |
| 1978 | - | - | - | - | - | - |
| 1979 | - | - | - | - | - | - |
| 1980 | 2.42 | - | - | - | - | - |
| 1981 | 2.25 | -0.17 | -7.105 % | - | - | - |
| 1982 | 2.12 | -0.13 | -5.831 % | - | - | - |
| 1983 | 2.3 | 0.18 | 8.434 % | - | - | - |
| 1984 | 1.95 | -0.35 | -15.067 % | - | - | - |
| 1985 | 1.61 | -0.34 | -17.58 % | - | - | - |
| 1986 | 1.81 | 0.2 | 12.486 % | - | - | - |
| 1987 | 2.3 | 0.49 | 27.142 % | - | - | - |
| 1988 | 2.5 | 0.2 | 8.479 % | - | - | - |
| 1989 | 2.54 | 0.04 | 1.605 % | - | - | - |
| 1990 | 2.79 | 0.25 | 10.05 % | 5.31 | - | - |
| 1991 | 3 | 0.21 | 7.418 % | 5.93 | 0.63 | 11.824 % |
| 1992 | 3.43 | 0.43 | 14.437 % | 6.51 | 0.57 | 9.632 % |
| 1993 | 3.25 | -0.18 | -5.2 % | 6.55 | 0.05 | 0.753 % |
| 1994 | 3.67 | 0.42 | 12.774 % | 6.81 | 0.26 | 3.902 % |
| 1995 | 3.98 | 0.31 | 8.51 % | 7.22 | 0.41 | 6.077 % |
| 1996 | 3.99 | 0.01 | 0.268 % | 7.59 | 0.37 | 5.081 % |
| 1997 | 4.15 | 0.17 | 4.157 % | 8.05 | 0.46 | 6.017 % |
| 1998 | 3.87 | -0.28 | -6.784 % | 8.41 | 0.36 | 4.452 % |
| 1999 | 3.87 | 0 | -0.118 % | 8.81 | 0.41 | 4.832 % |
| 2000 | 3.92 | 0.05 | 1.388 % | 9.33 | 0.51 | 5.836 % |
| 2001 | 3.56 | -0.36 | -9.303 % | 9.65 | 0.32 | 3.456 % |
| 2002 | 3.35 | -0.21 | -5.852 % | 10.27 | 0.62 | 6.417 % |
| 2003 | 4.93 | 1.58 | 47.094 % | 10.92 | 0.65 | 6.298 % |
| 2004 | 6.61 | 1.68 | 34.158 % | 12.58 | 1.67 | 15.289 % |
| 2005 | 7.25 | 0.64 | 9.671 % | 13.31 | 0.72 | 5.744 % |
| 2006 | 8 | 0.75 | 10.394 % | 14.69 | 1.38 | 10.375 % |
| 2007 | 8.84 | 0.84 | 10.47 % | 15.9 | 1.21 | 8.229 % |
| 2008 | 8.61 | -0.23 | -2.626 % | 16.63 | 0.74 | 4.628 % |
| 2009 | 8.94 | 0.33 | 3.85 % | 16.78 | 0.15 | 0.915 % |
| 2010 | 11.43 | 2.49 | 27.885 % | 18.01 | 1.23 | 7.328 % |
| 2011 | 12.52 | 1.09 | 9.552 % | 19.32 | 1.31 | 7.259 % |
| 2012 | 13.04 | 0.52 | 4.142 % | 20.55 | 1.23 | 6.358 % |
| 2013 | 12.04 | -1 | -7.658 % | 21.85 | 1.3 | 6.313 % |
| 2014 | 12.44 | 0.39 | 3.256 % | 23.97 | 2.12 | 9.697 % |
| 2015 | 11.34 | -1.1 | -8.848 % | 24.85 | 0.88 | 3.685 % |
| 2016 | 10.72 | -0.61 | -5.409 % | 24.88 | 0.03 | 0.125 % |
| 2017 | 12.9 | 2.17 | 20.268 % | 24.79 | -0.09 | -0.373 % |
| 2018 | 13.68 | 0.79 | 6.102 % | 25.4 | 0.61 | 2.456 % |
| 2019 | 12.54 | -1.14 | -8.333 % | 25.47 | 0.07 | 0.29 % |
| 2020 | 10.58 | -1.96 | -15.613 % | 25.53 | 0.06 | 0.217 % |
| 2021 | 12.4 | 1.82 | 17.184 % | 27.29 | 1.76 | 6.906 % |
| 2022 | 12.57 | 0.17 | 1.346 % | 30.81 | 3.52 | 12.913 % |
| 2023 | 12.41 | -0.16 | -1.282 % | 33.34 | 2.53 | 8.201 % |
| 2024 | 13.37 | 0.96 | 7.77 % | 35.41 | 2.07 | 6.219 % |
Between 1980 to 2024, Namibia experienced the following economic phases:
The most remarkable growth occurred in 2003 with an increase of 47.094%, while the largest decline was in 1985 at -17.58%.