Namibia's GDP changed from approximately $2B 568M in 1990 to $12B 765M in 2024, showing an overall 397.1% sharply increased during the period.
The lowest GDP was recorded in 1990 at $2B 568M, and the highest in 2018 at $13B 676M.
Over the 34-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 4.8%.
For comparison, the average annual growth rate of South Africa was 3.3%, and that of Angola was 6.2%.
Namibia GDP from 1990 to 2024
The total market value of goods and services produced annually in Namibia.
Overview of Namibia's GDP (1990–2024)
The Gross Domestic Product (GDP) of Namibia recorded a 397.1% sharply increased from 1990 to 2024.
The average GDP during this period was $8B 60M, and the median was $8B 496M.
GDP fluctuated within a range of $11B 108M, with a standard deviation of $4B 29M.
The average annual change was $368M 2K.
Highest and Lowest GDP Records
- Lowest GDP: 1990, $2B 568M
- Highest GDP: 2018, $13B 676M
- Most Recent GDP: 2024, $12B 765M
Notable Annual GDP Changes
- 2010: Significant increase in GDP
- 2020: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Namibia's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $12B 539M → $10B 583M
- Outcome: sharply declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $8B 730M → $8B 915M
- Outcome: increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $3B 941M → $3B 577M
- Outcome: declined
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $4B 110M → $3B 832M
- Outcome: declined
Key Economic Indicators of Namibia (1990–2024)
| year | GDP Growth | Nominal GDP | PPP GDP | GDP per Capita | PPP per Capita | Savings | Population | Current Account | Fiscal Balance |
|---|---|---|---|---|---|---|---|---|---|
1989 | 0 % | $ 0 | $ 0 | $ 0 | $ 0 | 36.99 % | 0 person | 0 % | 0 % |
1990 | 0 % | $ 2B 568M | $ 5B 485M | $ 1,908.83 | $ 4,077.57 | 29.82 % | 1M 345K people | 1.073 % | 1.871 % |
1991 | 5.343 % | $ 2B 841M | $ 5B 974M | $ 2,025.61 | $ 4,259.01 | 19.49 % | 1M 403K people | 3.699 % | -1.302 % |
1992 | 9.27 % | $ 3B 296M | $ 6B 677M | $ 2,264.91 | $ 4,588.06 | 20.13 % | 1M 455K people | 1.51 % | -2.318 % |
1993 | -1.62 % | $ 3B 156M | $ 6B 724M | $ 2,099.22 | $ 4,471.92 | 18.54 % | 1M 504K people | 3.491 % | -2.164 % |
1994 | 3.005 % | $ 3B 537M | $ 7B 74M | $ 2,283.06 | $ 4,566.28 | 21.14 % | 1M 549K people | 2.413 % | 0.273 % |
1995 | 4.115 % | $ 3B 948M | $ 7B 519M | $ 2,476.95 | $ 4,717.25 | 23.73 % | 1M 594K people | 4.456 % | -0.779 % |
1996 | 3.196 % | $ 3B 954M | $ 7B 902M | $ 2,406.48 | $ 4,809.20 | 23.59 % | 1M 643K people | 2.928 % | -2.383 % |
1997 | 4.216 % | $ 4B 110M | $ 8B 377M | $ 2,423.59 | $ 4,939.38 | 19.23 % | 1M 696K people | 2.198 % | -0.663 % |
1998 | 3.291 % | $ 3B 832M | $ 8B 750M | $ 2,189.32 | $ 4,999.68 | 24.52 % | 1M 750K people | 4.224 % | -0.616 % |
1999 | 3.366 % | $ 3B 824M | $ 9B 172M | $ 2,118.41 | $ 5,081.57 | 22.16 % | 1M 805K people | -0.722 % | 0.223 % |
2000 | 3.497 % | $ 3B 941M | $ 9B 708M | $ 2,156.03 | $ 5,310.82 | 24.78 % | 1M 828K people | 4.859 % | 1.025 % |
2001 | 2.393 % | $ 3B 577M | $ 10B 164M | $ 1,954.97 | $ 5,554.60 | 23.81 % | 1M 830K people | 0.295 % | -0.304 % |
2002 | 6.68 % | $ 3B 396M | $ 11B 12M | $ 1,825.85 | $ 5,920.29 | 21.76 % | 1M 860K people | 2.528 % | 0.593 % |
2003 | 3.477 % | $ 4B 974M | $ 11B 620M | $ 2,630.11 | $ 6,144.78 | 25.24 % | 1M 891K people | 5.342 % | -2.299 % |
2004 | 6.632 % | $ 6B 673M | $ 12B 724M | $ 3,470.15 | $ 6,616.75 | 25.83 % | 1M 923K people | 6.688 % | -0.496 % |
2005 | 4.67 % | $ 7B 324M | $ 13B 736M | $ 3,742.51 | $ 7,018.58 | 24.21 % | 1M 957K people | 4.498 % | 2.011 % |
2006 | 3.948 % | $ 7B 711M | $ 14B 718M | $ 3,870.94 | $ 7,388.46 | 37.38 % | 1M 992K people | 14.043 % | 5.674 % |
2007 | 3.646 % | $ 8B 730M | $ 15B 668M | $ 4,378.56 | $ 7,858.62 | 33 % | 1M 994K people | 8.566 % | 7.735 % |
2008 | 2.65 % | $ 8B 496M | $ 16B 393M | $ 4,198.55 | $ 8,100.75 | 32.19 % | 2M 24K people | -0.108 % | 4.666 % |