Namibia: Small economy, good resource base

Following relatively robust annual average real GDP growth of +5% in 2000-08, the economy slipped into recession in 2009 (-0.7%) in the wake of the global financial crisis. Inflationary pressures are likely to remain high, partly reflecting weaknesses in the South African economy.

Principal exports are diamonds and gold. In the period 2000-08, the current account registered annual average surpluses of 4.4% of GDP but deficits have been recorded since then. External debt is relatively low.