Namibia GDP Trends from 1990 to 2024: A overall increase with some decline Flow

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.

Change Chart

    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)

    yearNominal GDPGDP per CapitaPPP per CapitaPPP GDPGDP GrowthCurrent AccountSavingsFiscal BalancePopulation
    1989
    $ 0
    $ 0
    $ 0
    $ 0
    0 %
    0 %
    36.99 %
    0 %
    0 person
    1990
    $ 2B 568M
    $ 1,908.83
    $ 4,077.57
    $ 5B 485M
    0 %
    1.073 %
    29.82 %
    1.871 %
    1M 345K people
    1991
    $ 2B 841M
    $ 2,025.61
    $ 4,259.01
    $ 5B 974M
    5.343 %
    3.699 %
    19.49 %
    -1.302 %
    1M 403K people
    1992
    $ 3B 296M
    $ 2,264.91
    $ 4,588.06
    $ 6B 677M
    9.27 %
    1.51 %
    20.13 %
    -2.318 %
    1M 455K people
    1993
    $ 3B 156M
    $ 2,099.22
    $ 4,471.92
    $ 6B 724M
    -1.62 %
    3.491 %
    18.54 %
    -2.164 %
    1M 504K people
    1994
    $ 3B 537M
    $ 2,283.06
    $ 4,566.28
    $ 7B 74M
    3.005 %
    2.413 %
    21.14 %
    0.273 %
    1M 549K people
    1995
    $ 3B 948M
    $ 2,476.95
    $ 4,717.25
    $ 7B 519M
    4.115 %
    4.456 %
    23.73 %
    -0.779 %
    1M 594K people
    1996
    $ 3B 954M
    $ 2,406.48
    $ 4,809.20
    $ 7B 902M
    3.196 %
    2.928 %
    23.59 %
    -2.383 %
    1M 643K people
    1997
    $ 4B 110M
    $ 2,423.59
    $ 4,939.38
    $ 8B 377M
    4.216 %
    2.198 %
    19.23 %
    -0.663 %
    1M 696K people
    1998
    $ 3B 832M
    $ 2,189.32
    $ 4,999.68
    $ 8B 750M
    3.291 %
    4.224 %
    24.52 %
    -0.616 %
    1M 750K people
    1999
    $ 3B 824M
    $ 2,118.41
    $ 5,081.57
    $ 9B 172M
    3.366 %
    -0.722 %
    22.16 %
    0.223 %
    1M 805K people
    2000
    $ 3B 941M
    $ 2,156.03
    $ 5,310.82
    $ 9B 708M
    3.497 %
    4.859 %
    24.78 %
    1.025 %
    1M 828K people
    2001
    $ 3B 577M
    $ 1,954.97
    $ 5,554.60
    $ 10B 164M
    2.393 %
    0.295 %
    23.81 %
    -0.304 %
    1M 830K people
    2002
    $ 3B 396M
    $ 1,825.85
    $ 5,920.29
    $ 11B 12M
    6.68 %
    2.528 %
    21.76 %
    0.593 %
    1M 860K people
    2003
    $ 4B 974M
    $ 2,630.11
    $ 6,144.78
    $ 11B 620M
    3.477 %
    5.342 %
    25.24 %
    -2.299 %
    1M 891K people
    2004
    $ 6B 673M
    $ 3,470.15
    $ 6,616.75
    $ 12B 724M
    6.632 %
    6.688 %
    25.83 %
    -0.496 %
    1M 923K people
    2005
    $ 7B 324M
    $ 3,742.51
    $ 7,018.58
    $ 13B 736M
    4.67 %
    4.498 %
    24.21 %
    2.011 %
    1M 957K people
    2006
    $ 7B 711M
    $ 3,870.94
    $ 7,388.46
    $ 14B 718M
    3.948 %
    14.043 %
    37.38 %
    5.674 %
    1M 992K people
    2007
    $ 8B 730M
    $ 4,378.56
    $ 7,858.62
    $ 15B 668M
    3.646 %
    8.566 %
    33 %
    7.735 %
    1M 994K people
    2008
    $ 8B 496M
    $ 4,198.55
    $ 8,100.75
    $ 16B 393M
    2.65 %
    -0.108 %
    32.19 %
    4.666 %
    2M 24K people