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    Namibia Economy - 2002
    http://www.greekorthodoxchurch.org/wfb2002/namibia/namibia_economy.html
    SOURCE: 2002 CIA WORLD FACTBOOK

      Economy - overview The economy is heavily dependent on the extraction and processing of minerals for export. Mining accounts for 20% of GDP. Namibia is the fourth-largest exporter of nonfuel minerals in Africa and the world's fifth-largest producer of uranium. Rich alluvial diamond deposits make Namibia a primary source for gem-quality diamonds. Namibia also produces large quantities of lead, zinc, tin, silver, and tungsten. About half of the population depends on agriculture (largely subsistence agriculture) for its livelihood. Namibia must import some of its food. Although per capita GDP is five times the per capita GDP of Africa's poorest countries, the majority of Namibia's people live in pronounced poverty because of large-scale unemployment, the great inequality of income distribution, and the large amount of wealth going to foreigners. The Namibian economy has close links to South Africa. Agreement has been reached on the privatization of several more enterprises in coming years, which should stimulate long-run foreign investment.

      GDP purchasing power parity - $8.1 billion (2001 est.)

      GDP - real growth rate 4% (2001 est.)

      GDP - per capita purchasing power parity - $4,500 (2001 est.)

      GDP - composition by sector
      agriculture: 11%
      industry: 28%
      services: 61% (2000 est.)

      Population below poverty line NA%

      Household income or consumption by percentage share
      lowest 10%: NA%
      highest 10%: NA%

      Inflation rate (consumer prices) 8.8% (2001)

      Labor force 500,000

      Labor force - by occupation agriculture 47%, industry 20%, services 33% (1999 est.)

      Unemployment rate 30% to 40%, including underemployment (1997 est.)

      Budget
      revenues: $883 million
      expenditures: $950 million, including capital expenditures of $NA (1998)

      Industries meatpacking, fish processing, dairy products; mining (diamond, lead, zinc, tin, silver, tungsten, uranium, copper)

      Industrial production growth rate NA

      Electricity - production 30 million kWh (2000)

      Electricity - production by source
      fossil fuel: 2%
      other: 0% (2000)
      hydro: 98%
      nuclear: 0%

      Electricity - consumption 890.9 million kWh (2000)

      Electricity - exports 0 kWh (2000)

      Electricity - imports 863 million kWh
      note: supplied by South Africa (2000)

      Agriculture - products millet, sorghum, peanuts; livestock; fish

      Exports $1.58 billion (f.o.b., 2001 est.)

      Exports - commodities diamonds, copper, gold, zinc, lead, uranium; cattle, processed fish, karakul skins

      Exports - partners UK 43%, South Africa 26%, Spain 14%, France 8%, Japan (1998 est.)

      Imports $1.71 billion (f.o.b., 2001 est.)

      Imports - commodities foodstuffs; petroleum products and fuel, machinery and equipment, chemicals

      Imports - partners South Africa 81%, US 4%, Germany 2% (1997 est.)

      Debt - external $217 million (2000 est.)

      Economic aid - recipient $127 million (1998)

      Currency Namibian dollar (NAD); South African rand (ZAR)

      Currency code NAD; ZAR

      Exchange rates Namibian dollars per US dollar - 11.58786 (January 2002), 8.60918 (2001), 6.93983 (2000), 6.10948 (1999), 5.52828 (1998), 4.60796 (1997)

      Fiscal year 1 April - 31 March

      NOTE: The information regarding Namibia on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Namibia Economy 2002 information contained here. All suggestions for corrections of any errors about Namibia Economy 2002 should be addressed to the CIA.

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    Revised 30-Jan-03
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