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%.

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.


Namibia GDP from 1990 to 2024

The total market value of goods and services produced annually in Namibia.

Change Chart

    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