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.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
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 | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
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 |
