Namíbia: Visió econòmica i política
Namibia is very open to foreign trade, which represents 110% of the country’s GDP (World Bank). Customs duties are low, but some trade barriers remain, including a number of import and export restrictions, mostly on agricultural products. The country's economy is closely linked to that of South Africa, with the Namibian dollar pegged to the South African rand. The country is a member of the SACU (Southern African Customs Union) and SADC (Southern African Development Community). Namibia also ratified the African Continental Free Trade Agreement. In 2016, the EU signed an EPA agreement with the SADC EPA Group, which includes Botswana, Lesotho, Mozambique, Namibia, South Africa, and Swaziland. According to data by Comtrade, in 2023, the country’s main exports were diamonds (29.4% of the total), gold (11.4%), fish fillets and other fish meat (6.6%), frozen fish (5.3%), petroleum oils (5.2%), and copper ores and concentrates (4.5%); whereas imports were led by petroleum oils (21.2%), diamonds (4.5%), copper ores and concentrates (3.5%), motor vehicles for the transport of goods (1.9%), and motor cars (1.6%).
In 2023, Namibia’s exports were mostly directed towards Botswana (19.3%), South Africa (18.6%), China (12.5%), Zambia (5.6%), Belgium (5.3%), and Spain (5.0%). The main import origin was South Africa (35.7% of total imports), followed by China (8.9%), India (6.7%), the United Arab Emirates (4.3%), and the U.S. (3.4% - data Comtrade).
Namibia’s trade balance is structurally in deficit because of the country’s high demand for high-valued manufactured commodities and machinery, and exports of mainly primary commodities that are of low value, with the exception of diamonds. In 2023, merchandise exports amounted to USD 5.9 billion (+1.7% year-on-year), while imports decreased by 9% and stood at USD 7.1 billion. In the same year, exports of services reached USD 999 million, while imports almost doubled y-o-y to USD 1.9 billion (WTO). Overall, the World Bank estimated the country’s trade deficit at 22.8% of its GDP (from 18.4% one year earlier). According to preliminary figures by Namibia’s Statistics Agency, in 2024, total imports reached NAD 161.5 billion, up from the NAD 136.3 billion recorded during 2023, while cumulative exports totalled NAD 119.0 billion, rising from NAD 103.2 billion in the previous year.
Foreign Trade Values | 2019 | 2020 | 2021 | 2022 | 2023 |
Imports of Goods (million USD) | 8,086 | 5,038 | 6,377 | 7,795 | 7,090 |
Exports of Goods (million USD) | 6,256 | 3,868 | 4,417 | 5,828 | 5,930 |
Imports of Services (million USD) | 627 | 747 | 1,010 | 1,093 | 1,973 |
Exports of Services (million USD) | 702 | 684 | 673 | 923 | 999 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2019 | 2020 | 2021 | 2022 | 2023 |
Foreign Trade (in % of GDP) | 82.9 | 76.9 | 83.5 | 99.1 | 109.6 |
Trade Balance (million USD) | -1,301 | -940 | -1,786 | -1,940 | -1,636 |
Trade Balance (Including Service) (million USD) | -1,225 | -1,003 | -2,114 | -2,064 | -2,592 |
Imports of Goods and Services (Annual % Change) | -4.0 | -15.0 | 20.2 | 23.0 | 22.7 |
Exports of Goods and Services (Annual % Change) | -8.7 | -16.6 | -2.1 | 22.9 | 14.1 |
Imports of Goods and Services (in % of GDP) | 46.5 | 43.2 | 51.6 | 58.8 | 66.2 |
Exports of Goods and Services (in % of GDP) | 36.4 | 33.7 | 32.0 | 40.3 | 43.4 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2024 | 2025 (e) | 2026 (e) | 2027 (e) | 2028 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 6.3 | 0.9 | 2.3 | 0.7 | 1.4 |
Volume of imports of goods and services (Annual % change) | 3.1 | 4.2 | 3.4 | 2.5 | 2.6 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Member of Southern African Development Community (SADC)
Member of South African Customs Union (SACU)
Member of the World Trade Organization (WTO)
Member of the African, Carribean and Pacific Agreement
Member of the Cotonou Agreement
African Growth Opportunity Act (AGOA) beneficiary country
Preferential market access to 34 countries for Namibian products, under the Generalised System of Preferences
Preferential trade agreement with Zimbabwe
Economic partnership agreement signed with the EU in June 2016
Main Customers (% of Exports) |
2023 |
Botswana | 19.3% |
South Africa | 18.6% |
China | 12.5% |
Zambia | 5.6% |
Belgium | 5.3% |
See More Countries | 38.6% |
Main Suppliers (% of Imports) |
2023 |
South Africa | 35.7% |
China | 8.9% |
India | 6.7% |
United Arab Emirates | 4.3% |
Namibia ![]() |
3.9% |
See More Countries | 40.4% |
Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import-Export Flows.
Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: May 2025