THE ECONOMIC OVERVIEW
Namibia’s economic overview
Namibia's economy is expected to maintain moderate growth over the medium term following slower expansion in 2025. Real GDP growth is estimated at 1.7 percent in 2025, with the economy projected to grow by 2.6 percent in 2026 and 2.9 percent in 2027.
Although these projections have been revised downward compared to the December 2025 Economic Outlook, the medium-term outlook remains positive.
Growth is expected to be driven primarily by the secondary and tertiary sectors, particularly construction, electricity and water, wholesale and retail trade, financial and insurance activities, and public administration and defence. Within the primary sector, uranium mining is expected to remain a key driver of economic activity, supported by increased production from existing operations. However, the overall outlook for the primary industries has weakened due to a sharper-than-expected contraction in metal ore production and continued weakness in diamond mining. As a result, growth forecasts have been revised downward by 1.2 percentage points for 2026 and 1.4 percentage points for 2027 relative to the projections published in the December 2025 Economic Outlook. Despite these revisions, Namibia's economy is expected to continue its gradual recovery, supported by stronger performance in non-mining sectors.
Economic Classification
Lower Middle Income Country
GDP (2025)
N$242.7 billion (USD 14,74 billion)
GDP per Capita
N$80,9 thousand (USD 4,413.1)
Population Size
3.02 million
Value of Total Exports (2025)
N$125.7 billion (USD 6.9 billion)
Value of Total Imports (2025)
N$150.7 billion (USD 8.2 billion)
Top 5 Exporting Markets (2025)
South Africa, China, Botswana, Zambia, Spain
Top 5 Importing Markets (2025)
South Africa, China, India, Zambia, Oman
Top 3 Commodity Exports (2025)
Uranium, Gold, Diamonds
Top 3 Commodity Imports (2025)
Processed petroleum oils, Vehicles for goods transports, Metals (mainly nickel)
Trade Agreements
SACU, SADC, AfCFTA, AGOA, SAD-EU EPA, SACU & UK EPA, SACU-EFTA, SACU-MERCOSUR
Primary Industries
Primary industries remain weak but are improving gradually. Agriculture is expected to recover due to better rainfall and livestock recovery.
Uranium mining remains a major growth driver: +7.9% in 2026
Diamond mining continues to decline because of weak global demand:
-5.7% in 2026
Metal ores expected to contract sharply: -22.7% in 2026
Secondary Industries
Construction remains strong due to mining and government infrastructure projects:
+9.5% in 2026
Electricity & water sector expected to grow:
+6.1% in 2026
Manufacturing remains weak due to reduced copper and diamond processing activity.
Tertiary Industries
Tertiary industries remain the strongest contributor to economic growth.
Wholesale & retail trade expected to grow:
+6.8% in 2026
Education sector supported by increased teacher numbers.
Transport, finance, and communication sectors
continue expanding steadily.