Namibian GDP

Updates to changes in Namibian GDP and forecasts

Source: Namibia Statistics Agency and Bank of Namibia

The NSA has published the full National Accounts for 2021. This shows that:

• The size of the economy as measured by real Gross Domestic Product (GDP) grew by 2.7% in 2021 after falling by a revised 8% in 2020 due primarily to the Covid pandemic and associated measures.

• In real terms, Namibia’s economy in 2021 is still smaller than it was in 2014.

• In current prices, GDP in 2021 was N$180.9 billion and GDP per capita was N$71,341.

• In its December 2022 Economic Outlook, the Bank of Namibia forecasts that GDP will grow by 2.8% in 2022, 3.4% in 2023 and 2.9% in 2024.

Disclaimer: All information contained in this document is taken from recognised sources. Namibian Economics accepts no responsibility for the accuracy of this information or decisions taken on the basis of this information.