Mother Earth Travel > Country Index > Namibia > Map Economy History |
| 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. 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 four times the per capita GDP of
Africa's poorer 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. GDP growth in 2000 was led by gains in the diamond and fish
sectors. Agreement has been reached on the privatization of several more
enterprises in coming years, which should stimulate long-run foreign
investment. Growth in 2001 could be 5.5% provided the world economy
remains stable. GDP: purchasing power parity - $7.6 billion
(2000 est.) SOURCE: The World Factbook |
Mother Earth Travel > Country Index > Namibia > Map Economy History