Abstract
This Selected Issues and Statistical Appendix paper analyzes the macroeconomic impact of the HIV/AIDS pandemic, as well as its repercussions on fiscal policy of Namibia. The paper seeks to assess the macroeconomic impact of HIV/AIDS under a successful implementation of Medium-Term Plan III (MTP III) that would lower the prevalence rate to below its 2004 level. The paper also identifies the effect of HIV/AIDS on the real GDP growth rate over the medium term through a source of growth model that estimates the impact of HIV/AIDS on the factors of production.
IV. International Reserves and Investment Decisions by Institutional Investors29
A. Introduction
76. Investment decisions by Namibian institutional investors have had a major impact on Namibia’s capital account and the level of international reserves over the last few years. This reflects the limited state of development of Namibia’s financial markets and the broader range of investment opportunities available in South Africa’s financial markets. Given the size of the assets under management (AUM) of insurance companies and pension funds—they exceeded 100 percent of GDP in 2003—the resulting impact on Namibia’s capital account and reserves has been very pronounced. A recent study by the Ministry of Finance and the Bank of Namibia (BoN) concluded that such outflows amounted to N$1.8 billion on average between 1990 and 1994 and surged to N$2.3 billion annually between 1995 and 2000 (i.e., about 10 percent of GDP, annually).30 This trend has continued unabated.
77. This has prompted the Namibian authorities to consider options to keep a larger share of the national savings within Namibia’s borders, with a view to channeling these funds to worthwhile domestic investment opportunities and, ultimately, enhancing the country’s long-term growth potential. One part of the strategy has been to tighten investment guidelines, requiring a larger share of investment in domestic assets by institutional investors. Another part rests on the assumption that strengthening domestic capital markets will result in absorbing higher levels of Namibian savings within the economy.
78. This chapter is intended to provide an overview of the size and development of Namibia’s institutional investors and financial markets (Section B), explain the major factors that have contributed to capital outflows to South Africa (Section C), and lay out some options that could help strengthen domestic financial markets and contain capital outflows (Section D). The chapter concludes that since domestic capital markets are in their nascency, the Namibian authorities should support their development through targeted policy actions. Nevertheless, since capital markets take time to develop, it can be expected that Namibia’s capital account and reserves will continue to remain under pressure in the foreseeable future.
B. Namibia’s Financial Sector
79. Namibia’s financial sector comprises a relatively sophisticated banking system, a strong presence of pension funds and insurance companies, and capital markets that are still at their early state of development (Text Table IV.1). As a result, much of the financial intermediation in Namibia takes place through the banking system, whereas nonbank financial institutions—in spite of their size—have so far only played a limited role in this area and invested most of their funds in South Africa. This has made Namibia a net exporter of capital to South Africa’s financial markets, helped by the open capital account under the Common Monetary Agreement (CMA).
Namibia: Structure of Financial System, End-2003
Namibia: Structure of Financial System, End-2003
| In billions of Namibia dollars |
In percent of GDP |
||
|---|---|---|---|
| Commercial banks | 20.0 | 61.9 | |
| Nonbank financial institutions | 32.5 | 100.6 | |
| Pension funds | 19.5 | 60.4 | |
| Insurance companies | 13.0 | 40.2 | |
| Bond market | 10.1 | 31.3 | |
| Of which: government | 8.6 | 26.6 | |
| Stock market capitalization | |||
| Excluding dual listed companies | 2.2 | 6.8 | |
| Including dual listed companies | 575.0 | 1,779.7 | |
Namibia: Structure of Financial System, End-2003
| In billions of Namibia dollars |
In percent of GDP |
||
|---|---|---|---|
| Commercial banks | 20.0 | 61.9 | |
| Nonbank financial institutions | 32.5 | 100.6 | |
| Pension funds | 19.5 | 60.4 | |
| Insurance companies | 13.0 | 40.2 | |
| Bond market | 10.1 | 31.3 | |
| Of which: government | 8.6 | 26.6 | |
| Stock market capitalization | |||
| Excluding dual listed companies | 2.2 | 6.8 | |
| Including dual listed companies | 575.0 | 1,779.7 | |
80. The foundation for the current features of Namibia’s financial system was laid in the pre-independence period. Its commercial banks were either controlled by South African parents or had strong ties with South Africa.31 While Namibia was still a protectorate of South Africa, its pension funds and insurance companies benefited from the strong emphasis of mining companies on creating adequate protection and securing retirement income for their employees. Since independence, this emphasis has broadened to other private companies, and the strong growth of the civil service has provided additional impetus to the rapidly expanding role of pension funds and insurance companies. As a result, by 1995 institutional investors had amassed some N$5 billion in AUM, or over 40 percent of GDP. This trend has continued in the past decade.
Total Assets of Pension and Insurance Companies, 1995–2003
(In billions of Namibia dollars)
Citation: IMF Staff Country Reports 2005, 096; 10.5089/9781451828399.002.A004
Sources: NAMFISA; RMB asset management; and staff estimates81. Namibia’s capital markets are dominated by the government as the main issuer of debt instruments. The total domestic debt outstanding amounted to about N$11.7 billion at the end-September 2004, almost nine-tenth of which consisted of government debt.32 Since 2002, there has been a determined effort by the government to cater to the interest of institutional investors in longer-term maturities and create a benchmark for the emergence of private debt instruments that could help finance longer-term investment projects. In fact, the government has successfully lengthened the maturity profile of its outstanding debt. However, the ratio of Treasury bills to the Internal Registered Stocks (i.e., the medium- and long-term bonds) has remained broadly the same. At present, there are five large issues outstanding, with maturities ranging from 2007 to 2024.33 The pension and insurance companies hold the bulk of the outstanding stock of government debt.
Total Government Debt Outstanding, 1995–2004 1/
(In millions of Namibia dollars)
Citation: IMF Staff Country Reports 2005, 096; 10.5089/9781451828399.002.A004
Source : Bank of Namibia and staff estimates.1/ Excluding public guaranteed debt and external debt.82. Parastatals account for much of the issues of non-government bonds, with an outstanding stock of over N$700 million at end-June 2004. Parastatals began to tap the market in 1996, but only recently became major issuers.34 Issuance by parastatals is often guaranteed by the government and may have quasi-fiscal implications. The primary issuers in this category are the Road Fund Administration, Agriculture Bank, and National Housing Enterprise. Lately, some private issuers, such as Standard Bank and Bank Windhoek, have entered the market as well, but their market share is still small, with an outstanding stock of less than N$1 billion.
83. Market capitalization at the Namibia Stock Exchange (NSX) largely reflects dual-listed companies. Over 99 percent of the market capitalization is related to companies that are South African in origin and also quoted at the Johannesburg Stock Exchange (JSX). Although the dual-listed companies have business operations in Namibia, their listing on the NSX allows Namibian institutional investors to invest at least 35 percent of their AUM in “domestic assets”—a regulatory requirement intended to curb capital outflows, which has been behind much of the growth of the NSX. About eight companies account for over 90 percent of the market capitalization of dual-listed companies (Anglo-American, Standard Bank, Old Mutual, First Rand, Sanlam, Baloworld, Edgars, and JD Group). Pension funds and insurance companies have about N$2 billion invested in the local equity market.
C. Major Factors Behind Capital Outflows to South Africa
84. Overall, the limited investment opportunities in domestic financial markets have led to sizable outflows of Namibian savings into the liquid and relatively developed markets in neighboring South Africa. These outflows have been at least double the level of inflows into Namibia reflecting the borrowing from Namibian banks from their South African parents to finance local credit operations. As a result, Namibia has increasingly large net claims on its neighbor, putting pressure on its capital account and its reserves levels.
Capital Outflows and Bank Foreign Liabilities, 1999–2003
(In billions of Namibia dollars)
Citation: IMF Staff Country Reports 2005, 096; 10.5089/9781451828399.002.A004
Source: RMB asset management.85. The AUM of Namibian pension funds and insurance companies are sizeable and, at more than 100 percent of GDP, one of the highest among emerging market economies. For example in Chile, a pioneer in this area, pension funds and insurers hold AUM equivalent to about 74 percent of GDP; in Argentina, this ratio is 16 percent; in Mexico and Poland, about 10 percent; in Malaysia, 77 percent; in Singapore, 103 percent; and in South Africa, 88 percent. Namibia’s AUM with pension funds and insurers are almost three times as large as Namibia’s domestic debt and equity markets (excluding dual-listed companies).
D. Developing Domestic Financial Markets
86. The earlier versions of Regulation 28 (for the pension fund industry) and Regulation 15 (for the insurance sector) had a regulatory requirement to hold a minimum of 10 percent of AUM in domestic assets. However, in the mid-1990s, the minimum threshold was raised to 35 percent, which contributed towards the growth in the NSX due to the increase in dual-listings of South African companies. Since investments in dual-listed companies were unable to contain capital outflows, the government has recently proposed a further tightening of domestic asset requirements and other regulatory changes. However, these proposals, which are still subject to discussion with market participants before a decision on them is taken, may not have the intended results.
87. In addition, the authorities have acknowledged that regulatory changes alone may be insufficient in arresting capital outflows. Consequently, they are interested in developing domestic financial markets to provide institutional investors with assets denominated in Namibian dollars and increase domestic financial intermediation.
Proposed regulatory changes and implications
88. NAMFISA, the official regulator for nonbank financial institutions, is presently analyzing proposed amendments to Regulation 28 and Regulation 15.35 A cabinet resolution suggests the following changes to the regulatory framework:
All institutional investors to invest a minimum of 5 percent of their assets in unlisted Namibian companies.
Reduce investment by institutional investors in dual-listed shares from 35 percent to 10 percent of their total assets over the next five years.
Withdraw the tax free status of Unit Trusts and apply the afore-mentioned domestic asset requirement to Unit Trusts.36
89. Further analysis is required to ascertain that the amendments to Regulations 28 and 15 will have the intended results. Although market views are mixed, the 5 percent investment requirement in unlisted Namibian companies seems to be the most promising in attracting funds currently invested in South Africa, provided, however, that there are profitable and qualitatively sound investment opportunities in such unlisted companies. Some institutional investors have already invested small amounts in local projects, with mixed results. As a consequence, minimum requirements for investments in unlisted assets and onerous limits on the choice of investments may negatively affect the risk return profile of pension funds and insurance companies. This could run counter to the objective of safeguarding the financial soundness of the institutional investors and, ultimately, put at risk the savings and pensions of the population. This may make it advisable to move carefully on the broadening of options for investment in unlisted companies.
90. Furthermore, it is not clear if reducing the limit on investments in dual-listed companies from 35 percent to 10 percent will be a positive move. It may restrict capital outflows, but there is a real possibility that dual-listed companies may de-list from the NSX, as the demand for such shares could be reduced sharply. As market capitalization would diminish, the question of even having a stock exchange could arise.
91. Investment income from Unit Trusts is currently exempted from taxation. As a result of their tax-free status, Unit Trusts have become very popular over the past few years and attracted significant deposits from individuals previously held with commercial banks. Removing their tax-free status could lessen their importance and lead to withdrawals, with a concomitant strengthening of the deposit base of commercial banks.
Issues to consider in building a domestic debt market
92. International experience suggests that establishing benchmarks, improving the market infrastructure, and diversifying the investor base all contribute towards developing the domestic debt market. Furthermore, the standard codes of best practice would include, among other things, a credit environment backed by rating agencies.
93. Government bonds are traditionally seen as conducive to creating a benchmark for the emergence of other domestic debt instruments. The successful lengthening of the maturity profile of Namibian government bonds and the recent issues of bonds by parastatals and private issuers have already increased the attractiveness of the Namibian bond market, but further efforts are needed.
94. A presence in international markets could be conducive to broadening the investor base and inducing the emergence of new borrowers, which would provide an additional impetus to the development of domestic financial markets. The first step in this direction would be to obtain a sovereign rating. The Namibian authorities are contemplating seeking such a rating and possibly issuing a Eurobond, which has, as a side effect, the potential of lowering borrowing costs to the government (Box IV.1). Having a direct measure of sovereign risk is likely to raise the profile of Namibia as a place to invest and help attract foreign direct investment and other project finance flows to Namibia (such as for the Kudu offshore gas project), especially from South African institutional investors. Furthermore, a sovereign rating could jump-start a credit rating environment for the domestic debt market and provide easier access of larger corporates and parastatals to tap domestic financial markets. Ultimately, one can expect that some of those corporates may follow the government and also issue abroad.
Issuing a Eurobond
An assumed sovereign rating in the B-range may reduce the yield spreads between Namibian and comparable South African bonds which presently range from 265 to 315 basis point (bps). It should be noted that spreads over South African bonds were in the 150 bps range about 18 months ago. Several factors could have led to this widening spread (see Box IV.2). The average interest rate of new issues of bonds is around 13 percent in Namibia, while Treasury bills presently cost around 8 percent but involve a roll-over risk.
Namibia and South Africa Yields: October 24, 2004
Citation: IMF Staff Country Reports 2005, 096; 10.5089/9781451828399.002.A004
Spreads On Comparable B-Rated Bonds
(In basis points)
Citation: IMF Staff Country Reports 2005, 096; 10.5089/9781451828399.002.A004
Source: Bloomberg.Given the present liquidity in international markets, and based on yields on B-rated sovereigns, Namibia could lower its present borrowing costs by up to 500 bps. This could involve issuing a five-year debut Eurobond at spreads of about 450 to 500 basis points over the U.S. Treasury curve, i.e., at about a 8 percent coupon—lower than the 13 percent cost of raising funds in the local market for comparable maturity.
In light of the higher-than-expected budget deficit for 2003/04, the authorities could consider issuing such bond after the results of their intended fiscal adjustment in 2004/05 are visible. However, the global interest rate cycle is on an upturn, and any rating improvement stemming from waiting for a much improved fiscal outcome in 2004/05 may be offset by an increase in global interest rates.
This being said, issuing an Eurobond needs to be carefully prepared. In addition to the timing, the authorities would in particular need to be aware of the enhanced need for fiscal transparency and consider the possible drawbacks from the exchange rate risk which could be substantial.
95. More primary issues of bonds could also materialize if the authorities considered introducing restrictions by type of investment to address the large equity exposure of Namibian pension funds and insurance companies. In general, long-term investors are biased towards fixed-income instruments since their liabilities have a lengthy duration. However, in the case on Namibia, institutional investors typically hold about two-thirds of their AUM in equities—excessive when compared to both developed and emerging market countries and potentially risky. As illustrated in Text Table IV.2, many emerging market countries limit investments by pension funds to 30 to 50 percent of their total assets. Aside from the United Kingdom and the United States, the actual investments by pension funds in equities have generally been below 30 percent of their total AUM.
Pension Funds Portfolio Limits and Actual Asset Allocation, 2001–02
(In percent of total assets)
Numbers refer to maximum allocation; P indicates that the prudent man rule applies.
Data for mature markets are end of 2001 and for emerging markets are end of 2002.
1998 data.
In EU equity; 10 percent in foreign bonds are equities of non-EU countries. These limits are for pensionskassen, which are under the supervision of the insurance regulator. Other pension funds are not subject to investment limits.
No investment limits for public employee funds.
Securities of OECD countries not traded in regulated markets up to 50 percent; non-OECD securities traded in regulated markets limited to 5 percent (forbidden if traded in non-regulated markets).
Only sovereign and investment grade Mexican corporate debt permitted in foreign limit.
Polish Brady Bonds do not count against this limit.
Pension Funds Portfolio Limits and Actual Asset Allocation, 2001–02
(In percent of total assets)
| Equities | Foreign Assets | ||||
|---|---|---|---|---|---|
| Limit 1 | Actual 2 | Limit 1 | Actual 2 | ||
| Mature markets | |||||
| United Kingdom | P | 60.9 | P | 22.9 | |
| United States | P | 58.8 | P | 11.0 3 | |
| Germany | 30 | 0.1 | 30 4 | 7.0 3 | |
| Japan | 30 | 27.7 | 30 5 | 22.9 3 | |
| Canada | - | 28.2 | 30 | 15.0 | |
| France | - | … | - | 5.0 3 | |
| Italy | P | 4.4 | P 6 | 0.0 3 | |
| Emerging markets | |||||
| Argentina | 49 | 6.6 | 10 | 8.9 | |
| Brazil | 50 | 27.8 | 0 | … | |
| Chile | 39 | 9.0 | 25 | 16.4 | |
| Colombia | 30 | 4.3 | 10 | - | |
| Mexico | 0 | 0.0 | 10 7 | - | |
| Peru | 35 | 31.3 | 8 | 7.2 | |
| Hungary | 50 | 13.8 | 30 | 2.5 | |
| Poland | 50 | 27.6 | 8 5 | 0.3 3 | |
Numbers refer to maximum allocation; P indicates that the prudent man rule applies.
Data for mature markets are end of 2001 and for emerging markets are end of 2002.
1998 data.
In EU equity; 10 percent in foreign bonds are equities of non-EU countries. These limits are for pensionskassen, which are under the supervision of the insurance regulator. Other pension funds are not subject to investment limits.
No investment limits for public employee funds.
Securities of OECD countries not traded in regulated markets up to 50 percent; non-OECD securities traded in regulated markets limited to 5 percent (forbidden if traded in non-regulated markets).
Only sovereign and investment grade Mexican corporate debt permitted in foreign limit.
Polish Brady Bonds do not count against this limit.
Pension Funds Portfolio Limits and Actual Asset Allocation, 2001–02
(In percent of total assets)
| Equities | Foreign Assets | ||||
|---|---|---|---|---|---|
| Limit 1 | Actual 2 | Limit 1 | Actual 2 | ||
| Mature markets | |||||
| United Kingdom | P | 60.9 | P | 22.9 | |
| United States | P | 58.8 | P | 11.0 3 | |
| Germany | 30 | 0.1 | 30 4 | 7.0 3 | |
| Japan | 30 | 27.7 | 30 5 | 22.9 3 | |
| Canada | - | 28.2 | 30 | 15.0 | |
| France | - | … | - | 5.0 3 | |
| Italy | P | 4.4 | P 6 | 0.0 3 | |
| Emerging markets | |||||
| Argentina | 49 | 6.6 | 10 | 8.9 | |
| Brazil | 50 | 27.8 | 0 | … | |
| Chile | 39 | 9.0 | 25 | 16.4 | |
| Colombia | 30 | 4.3 | 10 | - | |
| Mexico | 0 | 0.0 | 10 7 | - | |
| Peru | 35 | 31.3 | 8 | 7.2 | |
| Hungary | 50 | 13.8 | 30 | 2.5 | |
| Poland | 50 | 27.6 | 8 5 | 0.3 3 | |
Numbers refer to maximum allocation; P indicates that the prudent man rule applies.
Data for mature markets are end of 2001 and for emerging markets are end of 2002.
1998 data.
In EU equity; 10 percent in foreign bonds are equities of non-EU countries. These limits are for pensionskassen, which are under the supervision of the insurance regulator. Other pension funds are not subject to investment limits.
No investment limits for public employee funds.
Securities of OECD countries not traded in regulated markets up to 50 percent; non-OECD securities traded in regulated markets limited to 5 percent (forbidden if traded in non-regulated markets).
Only sovereign and investment grade Mexican corporate debt permitted in foreign limit.
Polish Brady Bonds do not count against this limit.
Recent Widening in Namibian Bond Spreads vis-à-vis South Africa
The recent widening in Namibian bond spreads over South African bonds can be related to a variety of factors, including a reflection of the relative macroeconomic performance of both economies. On the one hand, South Africa’s economy performed well in 2004, which, together with a generally prudent macroeconomic policy stance, has led to a recent upgrade by Moody’s and a decline in its Eurobond spreads. On the other hand, while economic activity in Namibia may have outpaced that of South Africa, the recent rise in the fiscal deficit in Namibia may have exerted upward pressure on Namibian bond yields in 2004. An econometric study was undertaken (using monthly data from early 2002 to October 2004) to shed some light on the recent widening of Namibian bond spreads vis-à-vis comparable South African bonds. Variables that were found to significantly affect the dependent variable (i.e., the difference between Namibian bond spreads and comparable South African bond spreads) were the total outstanding public debt stock and the exchange rate. However, the ratio of net foreign assets to reserve money and the short-term interest rate differential were not found to be significant.
The significance of the appreciating exchange rate may be related to its differing impact on both economies. While the South African economy has been affected as well, it may have been more resilient and able to better adjust to the appreciation than Namibia. First, the impact of the rand’s strength has been offset by an increase in world prices by almost 70 percent for gold and platinum—South Africa’s major exports. Namibia’s primary source of revenue is from the diamond sector where prices have risen to a lesser extent. Second, South Africa’s trade openness indicator (i.e., exports plus imports relative to GDP) is around 54 percent, while Namibia’s is around 84 percent. Thus, changes in the value of the currency would impact Namibia more. Also, South Africa’s economy is well-diversified with strong retail, manufacturing, and service sectors when compared to Namibia’s predominantly mining-based economy. These factors could explain why the appreciation could have affected the bond spread between Namibia and South Africa.
Finally, other factors not captured by the regression may have played a role as well, such as concerns about Namibia’s land redistribution policy, political turmoil in the region, and market illiquidity. Market sources estimate that the illiquidity in the Namibian bond market adversely impacts the spreads by about 20 to 40 basis points.
96. If limits by investment were to be introduced in Namibia, such caps are likely to benefit South African bonds initially, given the limited supply of fixed-income debt instruments in Namibia at present. However, as domestic bond markets develop, pension funds and insurance companies may find sufficient domestic investment opportunities, which may help contain capital outflows.
97. Efforts could also be enhanced to improve market infrastructure. The primary market appears to be less of a concern, although settlement of new issues takes unusually long, up to one week. Regarding the secondary market, although trading takes place between asset managers, brokers, and banks, there is no uniform and transparent system in place to show bid/ask quotes. Only a privileged circle of investors has access to two-way prices. As a result, many investors perceive the market to be illiquid and are reluctant to invest in it. A new initiative by the Namibian Bondholders Association to provide a common platform for the reporting of prices and trading volumes, if implemented, is likely to increase the liquidity in local debt markets and could form the basis for an active secondary market.
E. Conclusions
98. One of the key features of the Namibian financial system is the large size of its institutional investors. Given the limited investment opportunities in Namibian financial markets, pension funds and insurance companies have no choice but to invest a large share of their assets abroad. There is a genuine case for developing domestic financial markets to keep a larger share of savings within Namibia, thereby helping contain the outflow of capital and safeguarding international reserves.
99. There are signs that such markets are beginning to develop in Namibia, to some extent as a result of actions taken by the authorities, such as the lengthening of the maturity profile of government securities. Other measures may not be as conducive, like the current proposals to tighten domestic asset requirements. Instead, further strengthening the benchmark role of government securities, enhancing the market infrastructure and prudential requirements, and diversifying the investor base—including by obtaining a sovereign rating and making Namibian financial markets more attractive to foreign investors, especially from South Africa—could help in this endeavor. However, since capital markets take time to develop, it can be expected that Namibia’s capital account and reserves will continue to remain under pressure in the foreseeable future.
Namibia: GDP and Gross National Income (GNI) at Current Prices, 1998–2003
(In millions of Namibia dollars, unless otherwise indicated)
Namibia: GDP and Gross National Income (GNI) at Current Prices, 1998–2003
(In millions of Namibia dollars, unless otherwise indicated)
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||
|---|---|---|---|---|---|---|---|---|
| GDP at factor cost | 16,608 | 18,070 | 21,629 | 25,192 | 28,333 | 28,977 | ||
| Compensation of employees | 7,801 | 8,307 | 9,352 | 10,616 | 11,815 | 13,014 | ||
| Consumption of fixed capital | 2,482 | 2,851 | 3,103 | 3,561 | 3,994 | 4,396 | ||
| Net operating surplus | 6,325 | 6,912 | 9,174 | 11,015 | 12,524 | 11,567 | ||
| Taxes on production and imports | 2,332 | 2,771 | 2,671 | 3,158 | 3,771 | 3,929 | ||
| Subsidies | -151 | -156 | -610 | -663 | -552 | -597 | ||
| GDP at market prices | 18,789 | 20,630 | 23,690 | 27,686 | 31,550 | 32,309 | ||
| Net primary incomes from rest of world | 484 | -106 | 230 | -10 | 385 | 2,483 | ||
| Receivable from rest of world | 1,014 | 1,129 | 1,721 | 1,704 | 1,870 | 2,923 | ||
| Payable to rest of world | -530 | -1,235 | -1,491 | -1,714 | -1,485 | -440 | ||
| GNP at market prices | 19,273 | 20,578 | 23,920 | 27,677 | 31,935 | 34,791 | ||
| Net current transfers | 2,243 | 2,543 | 3,010 | 2,985 | 3,111 | 3,729 | ||
| Receivable from rest of world | 2,492 | 2,906 | 3,272 | 3,297 | 3,423 | 3,932 | ||
| Payable to rest of world | -249 | -363 | -262 | -312 | -312 | -203 | ||
| Gross national disposable income | 21,515 | 23,120 | 26,930 | 30,661 | 35,046 | 38,520 | ||
| Memorandum items: | ||||||||
| Real GNI at constant 1995 prices | 15,475 | 15,486 | 16,606 | 17,541 | 16,955 | 17,843 | ||
| Percentage change | 5.8 | 0.1 | 7.2 | 5.6 | -3.3 | 5.2 | ||
| Per capita GDP at current market prices | 10,736 | 11,459 | 12,723 | 14,853 | 16,510 | 16,509 | ||
| Per capita GNI at current market prices | 11,013 | 11,401 | 12,846 | 14,848 | 16,711 | 17,778 | ||
Namibia: GDP and Gross National Income (GNI) at Current Prices, 1998–2003
(In millions of Namibia dollars, unless otherwise indicated)
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||
|---|---|---|---|---|---|---|---|---|
| GDP at factor cost | 16,608 | 18,070 | 21,629 | 25,192 | 28,333 | 28,977 | ||
| Compensation of employees | 7,801 | 8,307 | 9,352 | 10,616 | 11,815 | 13,014 | ||
| Consumption of fixed capital | 2,482 | 2,851 | 3,103 | 3,561 | 3,994 | 4,396 | ||
| Net operating surplus | 6,325 | 6,912 | 9,174 | 11,015 | 12,524 | 11,567 | ||
| Taxes on production and imports | 2,332 | 2,771 | 2,671 | 3,158 | 3,771 | 3,929 | ||
| Subsidies | -151 | -156 | -610 | -663 | -552 | -597 | ||
| GDP at market prices | 18,789 | 20,630 | 23,690 | 27,686 | 31,550 | 32,309 | ||
| Net primary incomes from rest of world | 484 | -106 | 230 | -10 | 385 | 2,483 | ||
| Receivable from rest of world | 1,014 | 1,129 | 1,721 | 1,704 | 1,870 | 2,923 | ||
| Payable to rest of world | -530 | -1,235 | -1,491 | -1,714 | -1,485 | -440 | ||
| GNP at market prices | 19,273 | 20,578 | 23,920 | 27,677 | 31,935 | 34,791 | ||
| Net current transfers | 2,243 | 2,543 | 3,010 | 2,985 | 3,111 | 3,729 | ||
| Receivable from rest of world | 2,492 | 2,906 | 3,272 | 3,297 | 3,423 | 3,932 | ||
| Payable to rest of world | -249 | -363 | -262 | -312 | -312 | -203 | ||
| Gross national disposable income | 21,515 | 23,120 | 26,930 | 30,661 | 35,046 | 38,520 | ||
| Memorandum items: | ||||||||
| Real GNI at constant 1995 prices | 15,475 | 15,486 | 16,606 | 17,541 | 16,955 | 17,843 | ||
| Percentage change | 5.8 | 0.1 | 7.2 | 5.6 | -3.3 | 5.2 | ||
| Per capita GDP at current market prices | 10,736 | 11,459 | 12,723 | 14,853 | 16,510 | 16,509 | ||
| Per capita GNI at current market prices | 11,013 | 11,401 | 12,846 | 14,848 | 16,711 | 17,778 | ||
Namibia: GDP by Industrial Origin at Current Prices, 1998–2003
(In millions of Namibia dollars)
Namibia: GDP by Industrial Origin at Current Prices, 1998–2003
(In millions of Namibia dollars)
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| GDP at basic prices | 16,751 | 18,177 | 21,372 | 24,916 | 28,206 | 28,828 | ||||
| Agriculture | 905 | 1,101 | 1,299 | 1,137 | 1,402 | 1,496 | ||||
| Commercial agriculture | 459 | 532 | 792 | 711 | 1,021 | 1,032 | ||||
| Subsistence agriculture | 447 | 569 | 507 | 425 | 381 | 464 | ||||
| Fishing | 934 | 917 | 1,044 | 1,445 | 1,608 | 1,627 | ||||
| Mining and quarrying | 1,835 | 1,949 | 2,610 | 3,663 | 3,945 | 2,184 | ||||
| Diamond mining | 1,358 | 1,697 | 1,934 | 2,854 | 2,887 | 1,807 | ||||
| Other mining and quarrying | 477 | 253 | 677 | 809 | 1,058 | 377 | ||||
| Subtotal, primary industries | 3,674 | 3,967 | 4,953 | 6,244 | 6,955 | 5,307 | ||||
| Manufacturing | 2,041 | 2,074 | 2,371 | 2,604 | 3,187 | 3,537 | ||||
| Meat processing | 131 | 139 | 121 | 142 | 143 | 147 | ||||
| Fish processing | 543 | 451 | 548 | 494 | 703 | 899 | ||||
| Food products and beverages | 912 | 1,014 | 1,090 | 1,215 | 1,515 | 1,599 | ||||
| Other manufacturing | 455 | 470 | 612 | 753 | 826 | 892 | ||||
| Electricity and water | 451 | 541 | 605 | 620 | 854 | 766 | ||||
| Construction | 528 | 483 | 473 | 789 | 588 | 880 | ||||
| Subtotal, secondary industries | 3,020 | 3,097 | 3,448 | 4,013 | 4,629 | 5,183 | ||||
| Wholesale and retail trade and repairs | 1,727 | 1,857 | 2,682 | 3,004 | 3,330 | 3,691 | ||||
| Hotels and restaurants | 359 | 344 | 403 | 477 | 576 | 648 | ||||
| Transport and communications | 1,111 | 1,226 | 1,383 | 1,533 | 2,055 | 2,301 | ||||
| Transport and storage | 698 | 787 | 877 | 975 | 1,266 | 1,379 | ||||
| Post and telecommunications | 413 | 439 | 506 | 558 | 789 | 922 | ||||
| Finance, real estate, and business services | 2,223 | 2,504 | 2,794 | 3,131 | 3,369 | 3,719 | ||||
| Financial intermediation | 641 | 739 | 833 | 964 | 1,088 | 1,194 | ||||
| Financial services indirectly measured | -216 | -259 | -273 | -330 | -359 | -419 | ||||
| Real estate and business services | 1,798 | 2,023 | 2,235 | 2,497 | 2,639 | 2,944 | ||||
| Owner-occupied dwellings | 956 | 1,070 | 1,194 | 1,317 | 1,427 | 1,568 | ||||
| Other real estate and business services | 841 | 953 | 1,041 | 1,180 | 1,212 | 1,375 | ||||
| Community, social, and personal services | 155 | 171 | 201 | 216 | 244 | 267 | ||||
| General government | 4,128 | 4,620 | 5,071 | 5,810 | 6,494 | 7,104 | ||||
| Other producers | 354 | 392 | 437 | 487 | 555 | 608 | ||||
| Subtotal, tertiary industries | 10,057 | 11,112 | 12,971 | 14,659 | 16,622 | 18,338 | ||||
| GDP at market prices | 18,789 | 20,630 | 23,690 | 27,686 | 31,550 | 32,309 | ||||
Namibia: GDP by Industrial Origin at Current Prices, 1998–2003
(In millions of Namibia dollars)
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| GDP at basic prices | 16,751 | 18,177 | 21,372 | 24,916 | 28,206 | 28,828 | ||||
| Agriculture | 905 | 1,101 | 1,299 | 1,137 | 1,402 | 1,496 | ||||
| Commercial agriculture | 459 | 532 | 792 | 711 | 1,021 | 1,032 | ||||
| Subsistence agriculture | 447 | 569 | 507 | 425 | 381 | 464 | ||||
| Fishing | 934 | 917 | 1,044 | 1,445 | 1,608 | 1,627 | ||||
| Mining and quarrying | 1,835 | 1,949 | 2,610 | 3,663 | 3,945 | 2,184 | ||||
| Diamond mining | 1,358 | 1,697 | 1,934 | 2,854 | 2,887 | 1,807 | ||||
| Other mining and quarrying | 477 | 253 | 677 | 809 | 1,058 | 377 | ||||
| Subtotal, primary industries | 3,674 | 3,967 | 4,953 | 6,244 | 6,955 | 5,307 | ||||
| Manufacturing | 2,041 | 2,074 | 2,371 | 2,604 | 3,187 | 3,537 | ||||
| Meat processing | 131 | 139 | 121 | 142 | 143 | 147 | ||||
| Fish processing | 543 | 451 | 548 | 494 | 703 | 899 | ||||
| Food products and beverages | 912 | 1,014 | 1,090 | 1,215 | 1,515 | 1,599 | ||||
| Other manufacturing | 455 | 470 | 612 | 753 | 826 | 892 | ||||
| Electricity and water | 451 | 541 | 605 | 620 | 854 | 766 | ||||
| Construction | 528 | 483 | 473 | 789 | 588 | 880 | ||||
| Subtotal, secondary industries | 3,020 | 3,097 | 3,448 | 4,013 | 4,629 | 5,183 | ||||
| Wholesale and retail trade and repairs | 1,727 | 1,857 | 2,682 | 3,004 | 3,330 | 3,691 | ||||
| Hotels and restaurants | 359 | 344 | 403 | 477 | 576 | 648 | ||||
| Transport and communications | 1,111 | 1,226 | 1,383 | 1,533 | 2,055 | 2,301 | ||||
| Transport and storage | 698 | 787 | 877 | 975 | 1,266 | 1,379 | ||||
| Post and telecommunications | 413 | 439 | 506 | 558 | 789 | 922 | ||||
| Finance, real estate, and business services | 2,223 | 2,504 | 2,794 | 3,131 | 3,369 | 3,719 | ||||
| Financial intermediation | 641 | 739 | 833 | 964 | 1,088 | 1,194 | ||||
| Financial services indirectly measured | -216 | -259 | -273 | -330 | -359 | -419 | ||||
| Real estate and business services | 1,798 | 2,023 | 2,235 | 2,497 | 2,639 | 2,944 | ||||
| Owner-occupied dwellings | 956 | 1,070 | 1,194 | 1,317 | 1,427 | 1,568 | ||||
| Other real estate and business services | 841 | 953 | 1,041 | 1,180 | 1,212 | 1,375 | ||||
| Community, social, and personal services | 155 | 171 | 201 | 216 | 244 | 267 | ||||
| General government | 4,128 | 4,620 | 5,071 | 5,810 | 6,494 | 7,104 | ||||
| Other producers | 354 | 392 | 437 | 487 | 555 | 608 | ||||
| Subtotal, tertiary industries | 10,057 | 11,112 | 12,971 | 14,659 | 16,622 | 18,338 | ||||
| GDP at market prices | 18,789 | 20,630 | 23,690 | 27,686 | 31,550 | 32,309 | ||||
Namibia: GDP by Industrial Origin at Constant 1995 Prices, 1998–2003
Namibia: GDP by Industrial Origin at Constant 1995 Prices, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| (In millions of Namibia dollars) | ||||||||||
| GDP at constant basic prices | 12,336.4 | 12,724.2 | 13,211.2 | 13,487.6 | 13,797.3 | 14,367.6 | ||||
| Agriculture | 909.4 | 1,008.9 | 1,056.4 | 899.0 | 855.8 | 879.6 | ||||
| Commercial agriculture | 489.0 | 494.6 | 648.3 | 588.9 | 601.3 | 622.9 | ||||
| Subsistence agriculture | 420.4 | 514.4 | 408.1 | 310.1 | 254.5 | 256.7 | ||||
| Fishing | 566.9 | 559.2 | 640.6 | 630.6 | 702.7 | 729.3 | ||||
| Mining and quarrying | 1,116.6 | 1,210.4 | 1,189.7 | 1,117.1 | 1,160.3 | 1,107.3 | ||||
| Diamond mining | 792.7 | 907.5 | 846.5 | 803.1 | 838.2 | 799.5 | ||||
| Other mining and quarrying | 323.8 | 302.9 | 343.2 | 314.0 | 322.1 | 307.8 | ||||
| Subtotal, primary industries | 2,592.9 | 2,778.5 | 2,886.6 | 2,646.8 | 2,718.8 | 2,716.2 | ||||
| Manufacturing | 1,573.8 | 1,515.5 | 1,570.0 | 1,657.1 | 1,739.4 | 1,831.2 | ||||
| Meat processing | 98.9 | 111.4 | 100.5 | 107.0 | 109.2 | 101.3 | ||||
| Fish processing | 355.8 | 280.7 | 240.8 | 204.0 | 183.4 | 277.9 | ||||
| Manufacture of other food | 725.5 | 759.3 | 773.8 | 808.2 | 875.3 | 843.8 | ||||
| Other manufacturing | 393.6 | 364.1 | 454.9 | 537.9 | 571.4 | 608.3 | ||||
| Electricity and water | 223.1 | 268.3 | 299.1 | 227.9 | 230.4 | 255.1 | ||||
| Construction | 422.8 | 364.1 | 344.4 | 527.4 | 373.5 | 546.8 | ||||
| Subtotal, secondary industries | 2,219.7 | 2,147.8 | 2,213.5 | 2,412.4 | 2,343.3 | 2,633.1 | ||||
| Wholesale and retail trade and repairs | 1,336.4 | 1,380.3 | 1,455.5 | 1,496.3 | 1,541.5 | 1,580.2 | ||||
| Hotels and restaurants | 284.6 | 251.2 | 269.2 | 291.8 | 316.4 | 332.0 | ||||
| Transport and communications | 862.4 | 968.2 | 1,049.5 | 1,195.7 | 1,314.9 | 1,384.9 | ||||
| Transport and storage | 533.0 | 631.1 | 670.7 | 725.0 | 823.6 | 776.8 | ||||
| Post and telecommunications | 329.4 | 337.1 | 378.8 | 470.7 | 491.3 | 608.0 | ||||
| Finance, real estate, and business services | 1,578.5 | 1,627.7 | 1,676.8 | 1,732.8 | 1,740.6 | 1,807.7 | ||||
| Financial intermediation | 450.5 | 461.1 | 489.5 | 497.6 | 514.2 | 522.3 | ||||
| Financial services indirectly measured | -144.3 | -152.2 | -150.9 | -157.8 | -154.7 | -167.8 | ||||
| Real estate and business services | 1,272.3 | 1,318.8 | 1,338.3 | 1,393.0 | 1,381.0 | 1,453.3 | ||||
| Owner-occupied dwellings | 660.1 | 676.6 | 693.6 | 711.0 | 728.8 | 747.1 | ||||
| Other real estate and business services | 612.2 | 642.1 | 644.7 | 682.0 | 652.3 | 706.2 | ||||
| Community, social, and personal services | 121.7 | 122.1 | 132.7 | 133.0 | 136.8 | 145.7 | ||||
| General government | 3,059.7 | 3,162.3 | 3,235.6 | 3,280.6 | 3,380.2 | 3,456.5 | ||||
| Other producers | 280.5 | 286.1 | 291.8 | 298.3 | 304.8 | 311.5 | ||||
| Subtotal, tertiary industries | 7,523.8 | 7,797.9 | 8,111.1 | 8,428.4 | 8,735.2 | 9,018.4 | ||||
| GDP at constant 1995 prices | 14,141.6 | 14,617.5 | 15,127.5 | 15,490.8 | 15,877.4 | 16,469.1 | ||||
| Memorandum items: | ||||||||||
| GDP at current basic prices | 16,751.3 | 18,230.8 | 21,372.0 | 24,915.8 | 28,206.0 | 28,827.8 | ||||
| GDP deflator | 132.9 | 141.5 | 156.6 | 179.1 | 199.1 | 196.5 | ||||
| GDP at current market prices | 18,788.6 | 20,683.8 | 23,689.7 | 27,686.5 | 31,550.2 | 32,308.7 | ||||
Namibia: GDP by Industrial Origin at Constant 1995 Prices, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| (In millions of Namibia dollars) | ||||||||||
| GDP at constant basic prices | 12,336.4 | 12,724.2 | 13,211.2 | 13,487.6 | 13,797.3 | 14,367.6 | ||||
| Agriculture | 909.4 | 1,008.9 | 1,056.4 | 899.0 | 855.8 | 879.6 | ||||
| Commercial agriculture | 489.0 | 494.6 | 648.3 | 588.9 | 601.3 | 622.9 | ||||
| Subsistence agriculture | 420.4 | 514.4 | 408.1 | 310.1 | 254.5 | 256.7 | ||||
| Fishing | 566.9 | 559.2 | 640.6 | 630.6 | 702.7 | 729.3 | ||||
| Mining and quarrying | 1,116.6 | 1,210.4 | 1,189.7 | 1,117.1 | 1,160.3 | 1,107.3 | ||||
| Diamond mining | 792.7 | 907.5 | 846.5 | 803.1 | 838.2 | 799.5 | ||||
| Other mining and quarrying | 323.8 | 302.9 | 343.2 | 314.0 | 322.1 | 307.8 | ||||
| Subtotal, primary industries | 2,592.9 | 2,778.5 | 2,886.6 | 2,646.8 | 2,718.8 | 2,716.2 | ||||
| Manufacturing | 1,573.8 | 1,515.5 | 1,570.0 | 1,657.1 | 1,739.4 | 1,831.2 | ||||
| Meat processing | 98.9 | 111.4 | 100.5 | 107.0 | 109.2 | 101.3 | ||||
| Fish processing | 355.8 | 280.7 | 240.8 | 204.0 | 183.4 | 277.9 | ||||
| Manufacture of other food | 725.5 | 759.3 | 773.8 | 808.2 | 875.3 | 843.8 | ||||
| Other manufacturing | 393.6 | 364.1 | 454.9 | 537.9 | 571.4 | 608.3 | ||||
| Electricity and water | 223.1 | 268.3 | 299.1 | 227.9 | 230.4 | 255.1 | ||||
| Construction | 422.8 | 364.1 | 344.4 | 527.4 | 373.5 | 546.8 | ||||
| Subtotal, secondary industries | 2,219.7 | 2,147.8 | 2,213.5 | 2,412.4 | 2,343.3 | 2,633.1 | ||||
| Wholesale and retail trade and repairs | 1,336.4 | 1,380.3 | 1,455.5 | 1,496.3 | 1,541.5 | 1,580.2 | ||||
| Hotels and restaurants | 284.6 | 251.2 | 269.2 | 291.8 | 316.4 | 332.0 | ||||
| Transport and communications | 862.4 | 968.2 | 1,049.5 | 1,195.7 | 1,314.9 | 1,384.9 | ||||
| Transport and storage | 533.0 | 631.1 | 670.7 | 725.0 | 823.6 | 776.8 | ||||
| Post and telecommunications | 329.4 | 337.1 | 378.8 | 470.7 | 491.3 | 608.0 | ||||
| Finance, real estate, and business services | 1,578.5 | 1,627.7 | 1,676.8 | 1,732.8 | 1,740.6 | 1,807.7 | ||||
| Financial intermediation | 450.5 | 461.1 | 489.5 | 497.6 | 514.2 | 522.3 | ||||
| Financial services indirectly measured | -144.3 | -152.2 | -150.9 | -157.8 | -154.7 | -167.8 | ||||
| Real estate and business services | 1,272.3 | 1,318.8 | 1,338.3 | 1,393.0 | 1,381.0 | 1,453.3 | ||||
| Owner-occupied dwellings | 660.1 | 676.6 | 693.6 | 711.0 | 728.8 | 747.1 | ||||
| Other real estate and business services | 612.2 | 642.1 | 644.7 | 682.0 | 652.3 | 706.2 | ||||
| Community, social, and personal services | 121.7 | 122.1 | 132.7 | 133.0 | 136.8 | 145.7 | ||||
| General government | 3,059.7 | 3,162.3 | 3,235.6 | 3,280.6 | 3,380.2 | 3,456.5 | ||||
| Other producers | 280.5 | 286.1 | 291.8 | 298.3 | 304.8 | 311.5 | ||||
| Subtotal, tertiary industries | 7,523.8 | 7,797.9 | 8,111.1 | 8,428.4 | 8,735.2 | 9,018.4 | ||||
| GDP at constant 1995 prices | 14,141.6 | 14,617.5 | 15,127.5 | 15,490.8 | 15,877.4 | 16,469.1 | ||||
| Memorandum items: | ||||||||||
| GDP at current basic prices | 16,751.3 | 18,230.8 | 21,372.0 | 24,915.8 | 28,206.0 | 28,827.8 | ||||
| GDP deflator | 132.9 | 141.5 | 156.6 | 179.1 | 199.1 | 196.5 | ||||
| GDP at current market prices | 18,788.6 | 20,683.8 | 23,689.7 | 27,686.5 | 31,550.2 | 32,308.7 | ||||
Namibia: GDP by Industrial Origin at Constant 1995 Prices, 1998–2003
(Annual percentage change)
Namibia: GDP by Industrial Origin at Constant 1995 Prices, 1998–2003
(Annual percentage change)
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | ||||
|---|---|---|---|---|---|---|---|---|---|
| GDP at constant basic prices | 3.4 | 3.1 | 3.6 | 2.1 | 2.3 | 4.1 | |||
| Agriculture | -1.8 | 10.9 | 4.7 | -15.2 | -4.8 | 2.8 | |||
| Commercial agriculture | -5.8 | 1.1 | 31.1 | -9.7 | 2.1 | 3.6 | |||
| Subsistence agriculture | 3.2 | 22.4 | -20.7 | -24.0 | -17.9 | 0.9 | |||
| Fishing | 21.9 | -1.4 | 14.5 | -2.6 | 11.4 | 3.8 | |||
| Mining and quarrying | -2.5 | 8.4 | -1.7 | -6.0 | 3.9 | -4.6 | |||
| Diamond mining | 1.3 | 14.5 | -6.7 | -5.1 | 4.4 | -4.6 | |||
| Other mining and quarrying | -10.8 | -6.5 | 13.3 | -8.2 | 2.6 | -4.5 | |||
| Subtotal, primary industries | 2.2 | 7.2 | 3.9 | -8.6 | 2.7 | -0.1 | |||
| Manufacturing | 8.9 | -3.7 | 3.6 | 6.0 | 5.0 | 5.3 | |||
| Meat processing | 8.0 | 12.6 | -9.7 | 5.9 | 2.1 | -7.3 | |||
| Fish processing | 35.7 | -21.1 | -14.5 | -15.7 | -10.1 | 51.5 | |||
| Manufacture of other food | 10.9 | 4.7 | 1.9 | 4.4 | 8.3 | -3.6 | |||
| Other manufacturing | -10.0 | -7.5 | 24.9 | 20.5 | 6.2 | 6.4 | |||
| Electricity and water | 4.3 | 20.2 | 11.5 | 3.3 | 1.1 | 10.7 | |||
| Construction | 15.3 | -13.9 | -4.4 | 49.4 | -29.2 | 46.4 | |||
| Subtotal, secondary industries | 9.6 | -3.2 | 3.2 | 12.5 | -2.9 | 12.4 | |||
| Wholesale and retail trade and repairs | 7.1 | 3.3 | 5.4 | 2.8 | 3.0 | 2.5 | |||
| Hotels and restaurants | 11.9 | -11.7 | 7.2 | 8.4 | 8.4 | 4.9 | |||
| Transport and communications | -10.3 | 12.3 | 5.8 | 6.2 | 10.0 | 5.3 | |||
| Transport and storage | -20.8 | 18.4 | 6.3 | 8.1 | 13.6 | -5.7 | |||
| Post and telecommunications | 14.0 | 2.3 | 4.8 | 2.6 | 4.4 | 23.8 | |||
| Finance, real estate, and business services | 9.9 | 12.6 | 11.7 | 11.9 | 0.4 | 3.9 | |||
| Financial intermediation | 6.5 | 2.4 | 6.2 | 2.7 | 3.3 | 1.6 | |||
| Financial services indirectly measured | 5.1 | 5.5 | -0.8 | 6.1 | -1.9 | 8.5 | |||
| Real estate and business services | 2.4 | 3.7 | 1.5 | 4.1 | -0.9 | 5.2 | |||
| Owner-occupied dwellings | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | |||
| Other real estate and business services | 2.2 | 4.9 | 0.4 | 5.8 | -4.4 | 8.3 | |||
| Community, social, and personal services | 0.0 | 0.3 | 8.7 | 0.1 | 2.9 | 6.5 | |||
| General government | 2.7 | 3.3 | 2.4 | 1.8 | 3.0 | 2.3 | |||
| Other producers | 2.0 | 2.0 | 2.0 | 2.0 | 2.2 | 2.2 | |||
| Subtotal, tertiary industries | 2.1 | 3.7 | 3.6 | 3.1 | 3.6 | 3.2 | |||
| GDP at constant 1995 prices | 3.3 | 3.4 | 3.5 | 2.4 | 2.5 | 3.7 | |||
| Memorandum items: | |||||||||
| GDP at current basic prices | 3.4 | 3.1 | 3.6 | 2.1 | 13.2 | 2.2 | |||
| GDP deflator | 8.6 | 6.5 | 11.0 | 14.3 | 11.2 | -1.3 | |||
| GDP at current market prices | 12.2 | 10.1 | 16.0 | 13.5 | 14.0 | 2.4 | |||
Namibia: GDP by Industrial Origin at Constant 1995 Prices, 1998–2003
(Annual percentage change)
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | ||||
|---|---|---|---|---|---|---|---|---|---|
| GDP at constant basic prices | 3.4 | 3.1 | 3.6 | 2.1 | 2.3 | 4.1 | |||
| Agriculture | -1.8 | 10.9 | 4.7 | -15.2 | -4.8 | 2.8 | |||
| Commercial agriculture | -5.8 | 1.1 | 31.1 | -9.7 | 2.1 | 3.6 | |||
| Subsistence agriculture | 3.2 | 22.4 | -20.7 | -24.0 | -17.9 | 0.9 | |||
| Fishing | 21.9 | -1.4 | 14.5 | -2.6 | 11.4 | 3.8 | |||
| Mining and quarrying | -2.5 | 8.4 | -1.7 | -6.0 | 3.9 | -4.6 | |||
| Diamond mining | 1.3 | 14.5 | -6.7 | -5.1 | 4.4 | -4.6 | |||
| Other mining and quarrying | -10.8 | -6.5 | 13.3 | -8.2 | 2.6 | -4.5 | |||
| Subtotal, primary industries | 2.2 | 7.2 | 3.9 | -8.6 | 2.7 | -0.1 | |||
| Manufacturing | 8.9 | -3.7 | 3.6 | 6.0 | 5.0 | 5.3 | |||
| Meat processing | 8.0 | 12.6 | -9.7 | 5.9 | 2.1 | -7.3 | |||
| Fish processing | 35.7 | -21.1 | -14.5 | -15.7 | -10.1 | 51.5 | |||
| Manufacture of other food | 10.9 | 4.7 | 1.9 | 4.4 | 8.3 | -3.6 | |||
| Other manufacturing | -10.0 | -7.5 | 24.9 | 20.5 | 6.2 | 6.4 | |||
| Electricity and water | 4.3 | 20.2 | 11.5 | 3.3 | 1.1 | 10.7 | |||
| Construction | 15.3 | -13.9 | -4.4 | 49.4 | -29.2 | 46.4 | |||
| Subtotal, secondary industries | 9.6 | -3.2 | 3.2 | 12.5 | -2.9 | 12.4 | |||
| Wholesale and retail trade and repairs | 7.1 | 3.3 | 5.4 | 2.8 | 3.0 | 2.5 | |||
| Hotels and restaurants | 11.9 | -11.7 | 7.2 | 8.4 | 8.4 | 4.9 | |||
| Transport and communications | -10.3 | 12.3 | 5.8 | 6.2 | 10.0 | 5.3 | |||
| Transport and storage | -20.8 | 18.4 | 6.3 | 8.1 | 13.6 | -5.7 | |||
| Post and telecommunications | 14.0 | 2.3 | 4.8 | 2.6 | 4.4 | 23.8 | |||
| Finance, real estate, and business services | 9.9 | 12.6 | 11.7 | 11.9 | 0.4 | 3.9 | |||
| Financial intermediation | 6.5 | 2.4 | 6.2 | 2.7 | 3.3 | 1.6 | |||
| Financial services indirectly measured | 5.1 | 5.5 | -0.8 | 6.1 | -1.9 | 8.5 | |||
| Real estate and business services | 2.4 | 3.7 | 1.5 | 4.1 | -0.9 | 5.2 | |||
| Owner-occupied dwellings | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | |||
| Other real estate and business services | 2.2 | 4.9 | 0.4 | 5.8 | -4.4 | 8.3 | |||
| Community, social, and personal services | 0.0 | 0.3 | 8.7 | 0.1 | 2.9 | 6.5 | |||
| General government | 2.7 | 3.3 | 2.4 | 1.8 | 3.0 | 2.3 | |||
| Other producers | 2.0 | 2.0 | 2.0 | 2.0 | 2.2 | 2.2 | |||
| Subtotal, tertiary industries | 2.1 | 3.7 | 3.6 | 3.1 | 3.6 | 3.2 | |||
| GDP at constant 1995 prices | 3.3 | 3.4 | 3.5 | 2.4 | 2.5 | 3.7 | |||
| Memorandum items: | |||||||||
| GDP at current basic prices | 3.4 | 3.1 | 3.6 | 2.1 | 13.2 | 2.2 | |||
| GDP deflator | 8.6 | 6.5 | 11.0 | 14.3 | 11.2 | -1.3 | |||
| GDP at current market prices | 12.2 | 10.1 | 16.0 | 13.5 | 14.0 | 2.4 | |||
Namibia: Expenditure on GDP, 1998–2003
Namibia: Expenditure on GDP, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (In millions of Namibia dollars) | ||||||||||||||
| Expenditure on GDP at market prices | 18,789 | 20,630 | 23,690 | 27,686 | 31,550 | 32,309 | ||||||||
| Gross domestic expenditure | 21,241 | 22,625 | 24,653 | 29,573 | 33,616 | 34,956 | ||||||||
| Final consumption expenditure | 16,402 | 17,808 | 20,022 | 23,088 | 28,195 | 27,612 | ||||||||
| General government | 5,915 | 6,562 | 7,116 | 8,351 | 9,291 | 10,161 | ||||||||
| Private | 10,487 | 11,246 | 12,906 | 14,736 | 18,905 | 17,451 | ||||||||
| Gross capital formation | 4,321 | 4,760 | 4,460 | 6,073 | 5,892 | 7,111 | ||||||||
| Public | 1,447 | 2,270 | 1,451 | 2,417 | 2,175 | 2,736 | ||||||||
| Producers of government | ||||||||||||||
| services | 808 | 935 | 952 | 1,059 | 1,165 | 1,187 | ||||||||
| Public corporations and | ||||||||||||||
| enterprises | 639 | 1,335 | 499 | 1,358 | 1,010 | 1,549 | ||||||||
| Private | 2,875 | 2,490 | 3,008 | 3,656 | 3,718 | 4,375 | ||||||||
| Changes in inventories | 518 | 57 | 171 | 412 | -471 | 233 | ||||||||
| Net exports | -2,452 | -1,995 | -963 | -1,886 | -2,066 | -2,647 | ||||||||
| Exports of goods and services | 8,448 | 9,290 | 10,471 | 12,006 | 13,753 | 12,159 | ||||||||
| Imports of goods and services | -10,900 | -11,286 | -11,435 | -13,892 | -15,819 | -14,806 | ||||||||
| (In percent of GDP) | ||||||||||||||
| Gross domestic expenditure | 113.1 | 109.7 | 104.1 | 106.8 | 106.5 | 108.2 | ||||||||
| Final consumption expenditure | 87.3 | 86.3 | 84.5 | 83.4 | 89.4 | 85.5 | ||||||||
| General government | 31.5 | 31.8 | 30.0 | 30.2 | 29.4 | 31.4 | ||||||||
| Private | 55.8 | 54.5 | 54.5 | 53.2 | 59.9 | 54.0 | ||||||||
| Gross capital formation | 23.0 | 23.1 | 18.8 | 21.9 | 18.7 | 22.0 | ||||||||
| Public | 7.7 | 11.0 | 6.1 | 8.7 | 6.9 | 8.5 | ||||||||
| Private | 15.3 | 12.1 | 12.7 | 13.2 | 11.8 | 13.5 | ||||||||
| Changes in inventories | 2.8 | 0.3 | 0.7 | 1.5 | -1.5 | 0.7 | ||||||||
| Net exports | -13.1 | -9.7 | -4.1 | -6.8 | -6.5 | -8.2 | ||||||||
| Exports of goods and services | 45.0 | 45.0 | 44.2 | 43.4 | 43.6 | 37.6 | ||||||||
| Imports of goods and services | -58.0 | -54.7 | -48.3 | -50.2 | -50.1 | -45.8 | ||||||||
Namibia: Expenditure on GDP, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (In millions of Namibia dollars) | ||||||||||||||
| Expenditure on GDP at market prices | 18,789 | 20,630 | 23,690 | 27,686 | 31,550 | 32,309 | ||||||||
| Gross domestic expenditure | 21,241 | 22,625 | 24,653 | 29,573 | 33,616 | 34,956 | ||||||||
| Final consumption expenditure | 16,402 | 17,808 | 20,022 | 23,088 | 28,195 | 27,612 | ||||||||
| General government | 5,915 | 6,562 | 7,116 | 8,351 | 9,291 | 10,161 | ||||||||
| Private | 10,487 | 11,246 | 12,906 | 14,736 | 18,905 | 17,451 | ||||||||
| Gross capital formation | 4,321 | 4,760 | 4,460 | 6,073 | 5,892 | 7,111 | ||||||||
| Public | 1,447 | 2,270 | 1,451 | 2,417 | 2,175 | 2,736 | ||||||||
| Producers of government | ||||||||||||||
| services | 808 | 935 | 952 | 1,059 | 1,165 | 1,187 | ||||||||
| Public corporations and | ||||||||||||||
| enterprises | 639 | 1,335 | 499 | 1,358 | 1,010 | 1,549 | ||||||||
| Private | 2,875 | 2,490 | 3,008 | 3,656 | 3,718 | 4,375 | ||||||||
| Changes in inventories | 518 | 57 | 171 | 412 | -471 | 233 | ||||||||
| Net exports | -2,452 | -1,995 | -963 | -1,886 | -2,066 | -2,647 | ||||||||
| Exports of goods and services | 8,448 | 9,290 | 10,471 | 12,006 | 13,753 | 12,159 | ||||||||
| Imports of goods and services | -10,900 | -11,286 | -11,435 | -13,892 | -15,819 | -14,806 | ||||||||
| (In percent of GDP) | ||||||||||||||
| Gross domestic expenditure | 113.1 | 109.7 | 104.1 | 106.8 | 106.5 | 108.2 | ||||||||
| Final consumption expenditure | 87.3 | 86.3 | 84.5 | 83.4 | 89.4 | 85.5 | ||||||||
| General government | 31.5 | 31.8 | 30.0 | 30.2 | 29.4 | 31.4 | ||||||||
| Private | 55.8 | 54.5 | 54.5 | 53.2 | 59.9 | 54.0 | ||||||||
| Gross capital formation | 23.0 | 23.1 | 18.8 | 21.9 | 18.7 | 22.0 | ||||||||
| Public | 7.7 | 11.0 | 6.1 | 8.7 | 6.9 | 8.5 | ||||||||
| Private | 15.3 | 12.1 | 12.7 | 13.2 | 11.8 | 13.5 | ||||||||
| Changes in inventories | 2.8 | 0.3 | 0.7 | 1.5 | -1.5 | 0.7 | ||||||||
| Net exports | -13.1 | -9.7 | -4.1 | -6.8 | -6.5 | -8.2 | ||||||||
| Exports of goods and services | 45.0 | 45.0 | 44.2 | 43.4 | 43.6 | 37.6 | ||||||||
| Imports of goods and services | -58.0 | -54.7 | -48.3 | -50.2 | -50.1 | -45.8 | ||||||||
Namibia: Output of Selected Minerals, 1998–2003
Namibia: Output of Selected Minerals, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |
|---|---|---|---|---|---|---|
| (In millions of Namibia dollars) | ||||||
| Diamond (thousands of carats) | 1,467.2 | 1,634.8 | 1,551.6 | 1,495.0 | 1,552.0 | 1,481.0 |
| Uranium (tons) | 3,590.0 | 3,495.7 | 3,201.0 | 2,640.0 | 2,751.0 | 2,401.0 |
| Copper (thousands of tons) | 8.7 | 0.1 | 24.2 | 110.4 | 17.9 | 26.3 |
| Lead (thousands of tons) | 0.3 | 5.1 | 20.7 | 26.2 | … | … |
| Zinc (thousands of tons) | 78.7 | 70.5 | 73.5 | 70.6 | 77.6 | 107.9 |
| Gold (kilograms) | 1,880.0 | 2,005.0 | 2,417.0 | 2,851.0 | 2,815.0 | 2,425.0 |
| (In percent change) | ||||||
| Diamond | 3.4 | 11.4 | -5.1 | -3.6 | 3.8 | -4.6 |
| Uranium | -4.9 | -2.6 | -8.4 | -17.5 | 4.2 | -12.7 |
| Copper | -65.2 | -98.9 | 24,081.0 | 356.5 | -83.8 | 46.9 |
| Lead | -80.0 | 1,600.0 | 305.2 | 26.7 | … | … |
| Zinc | 8.1 | -10.4 | 4.3 | -4.0 | 9.9 | 39.0 |
| Gold | -22.2 | 6.6 | 20.5 | 18.0 | -1.3 | -13.9 |
Namibia: Output of Selected Minerals, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |
|---|---|---|---|---|---|---|
| (In millions of Namibia dollars) | ||||||
| Diamond (thousands of carats) | 1,467.2 | 1,634.8 | 1,551.6 | 1,495.0 | 1,552.0 | 1,481.0 |
| Uranium (tons) | 3,590.0 | 3,495.7 | 3,201.0 | 2,640.0 | 2,751.0 | 2,401.0 |
| Copper (thousands of tons) | 8.7 | 0.1 | 24.2 | 110.4 | 17.9 | 26.3 |
| Lead (thousands of tons) | 0.3 | 5.1 | 20.7 | 26.2 | … | … |
| Zinc (thousands of tons) | 78.7 | 70.5 | 73.5 | 70.6 | 77.6 | 107.9 |
| Gold (kilograms) | 1,880.0 | 2,005.0 | 2,417.0 | 2,851.0 | 2,815.0 | 2,425.0 |
| (In percent change) | ||||||
| Diamond | 3.4 | 11.4 | -5.1 | -3.6 | 3.8 | -4.6 |
| Uranium | -4.9 | -2.6 | -8.4 | -17.5 | 4.2 | -12.7 |
| Copper | -65.2 | -98.9 | 24,081.0 | 356.5 | -83.8 | 46.9 |
| Lead | -80.0 | 1,600.0 | 305.2 | 26.7 | … | … |
| Zinc | 8.1 | -10.4 | 4.3 | -4.0 | 9.9 | 39.0 |
| Gold | -22.2 | 6.6 | 20.5 | 18.0 | -1.3 | -13.9 |
Namibia: Harvest of Main Commercial Fishing Species, 1999-2003
Namibia: Harvest of Main Commercial Fishing Species, 1999-2003
| 1999 | 2000 | 2001 | 2002 | 2003 | ||
|---|---|---|---|---|---|---|
| (In metric tonnes) | ||||||
| Fish species | 577,838 | 587,832 | 554,998 | 623,391 | 631,121 | |
| Pilchard | 44,653 | 25,388 | 10,763 | 4,160 | 22,255 | |
| Hake | 164,250 | 171,397 | 173,277 | 154,588 | 189,305 | |
| Horse mackerel | 320,394 | 344,314 | 315,245 | 359,183 | 360,447 | |
| Monk | 14,802 | 14,358 | 12,390 | 15,174 | 13,135 | |
| Kingklip | 3,706 | 3,922 | 6,607 | 7,210 | 6,603 | |
| Tuna | 1,155 | 2,401 | 3,198 | 2,837 | 3,371 | |
| Crab | 2,074 | 2,700 | 2,343 | 2,471 | 2,092 | |
| Rock lobster | 304 | 365 | 365 | 361 | 269 | |
| Other species | 26,500 | 22,987 | 30,810 | 77,407 | 33,644 | |
| Other species | ||||||
| Seals (numbers) | 25,161 | 41,753 | 44,223 | 40,000 | 34,000 | |
| Seaweed (gracilaria collection) | 6,600 | 829 | 800 | 500 | 288 | |
| (In percent change) | ||||||
| Fish species | … | 1.7 | -5.6 | 12.3 | 1.2 | |
| Pilchard | … | -43.1 | -57.6 | -61.3 | 435.0 | |
| Hake | … | 4.4 | 1.1 | -10.8 | 22.5 | |
| Horse mackerel | … | 7.5 | -8.4 | 13.9 | 0.4 | |
| Monk | … | -3.0 | -13.7 | 22.5 | -13.4 | |
| Kingklip | … | 5.8 | 68.5 | 9.1 | -8.4 | |
| Tuna | … | 107.9 | 33.2 | -11.3 | 18.8 | |
| Crab | … | 30.2 | -13.2 | 5.5 | -15.3 | |
| Rock lobster | … | 20.1 | 0.0 | -1.1 | -25.5 | |
| Other species | … | -13.3 | 34.0 | 151.2 | -56.5 | |
| Other species | ||||||
| Seals (numbers) | … | 65.9 | 5.9 | -9.5 | -15.0 | |
| Seaweed (gracilaria collection) | … | -87.4 | -3.5 | -37.5 | -42.4 | |
Namibia: Harvest of Main Commercial Fishing Species, 1999-2003
| 1999 | 2000 | 2001 | 2002 | 2003 | ||
|---|---|---|---|---|---|---|
| (In metric tonnes) | ||||||
| Fish species | 577,838 | 587,832 | 554,998 | 623,391 | 631,121 | |
| Pilchard | 44,653 | 25,388 | 10,763 | 4,160 | 22,255 | |
| Hake | 164,250 | 171,397 | 173,277 | 154,588 | 189,305 | |
| Horse mackerel | 320,394 | 344,314 | 315,245 | 359,183 | 360,447 | |
| Monk | 14,802 | 14,358 | 12,390 | 15,174 | 13,135 | |
| Kingklip | 3,706 | 3,922 | 6,607 | 7,210 | 6,603 | |
| Tuna | 1,155 | 2,401 | 3,198 | 2,837 | 3,371 | |
| Crab | 2,074 | 2,700 | 2,343 | 2,471 | 2,092 | |
| Rock lobster | 304 | 365 | 365 | 361 | 269 | |
| Other species | 26,500 | 22,987 | 30,810 | 77,407 | 33,644 | |
| Other species | ||||||
| Seals (numbers) | 25,161 | 41,753 | 44,223 | 40,000 | 34,000 | |
| Seaweed (gracilaria collection) | 6,600 | 829 | 800 | 500 | 288 | |
| (In percent change) | ||||||
| Fish species | … | 1.7 | -5.6 | 12.3 | 1.2 | |
| Pilchard | … | -43.1 | -57.6 | -61.3 | 435.0 | |
| Hake | … | 4.4 | 1.1 | -10.8 | 22.5 | |
| Horse mackerel | … | 7.5 | -8.4 | 13.9 | 0.4 | |
| Monk | … | -3.0 | -13.7 | 22.5 | -13.4 | |
| Kingklip | … | 5.8 | 68.5 | 9.1 | -8.4 | |
| Tuna | … | 107.9 | 33.2 | -11.3 | 18.8 | |
| Crab | … | 30.2 | -13.2 | 5.5 | -15.3 | |
| Rock lobster | … | 20.1 | 0.0 | -1.1 | -25.5 | |
| Other species | … | -13.3 | 34.0 | 151.2 | -56.5 | |
| Other species | ||||||
| Seals (numbers) | … | 65.9 | 5.9 | -9.5 | -15.0 | |
| Seaweed (gracilaria collection) | … | -87.4 | -3.5 | -37.5 | -42.4 | |
Namibia: Consumer Price Index (Windhoek), January 2001–November 2004
(Index, December 1992=100)
Namibia: Consumer Price Index (Windhoek), January 2001–November 2004
(Index, December 1992=100)
| Food | Beverages and Tobacco | Housing, Fuel, and Power | Clothing and Footwear | Household Goods, etc. | Transport and Communications | Recreation, etc. | Medical Health Care | Miscellaneous Goods and Services | All Items | |
|---|---|---|---|---|---|---|---|---|---|---|
| Weights | 28.4 | 4.1 | 19.9 | 4.3 | 10.2 | 20.7 | 4.1 | 1.4 | 6.9 | 100.0 |
| 2001 | ||||||||||
| January | 183.2 | 275.0 | 214.7 | 193.3 | 147.6 | 202.6 | 237.0 | 241.0 | 220.9 | 199.7 |
| February | 185.3 | 275.7 | 214.7 | 193.8 | 148.4 | 202.7 | 240.2 | 241.0 | 225.5 | 200.9 |
| March | 187.7 | 285.8 | 216.3 | 194.5 | 149.2 | 208.3 | 233.0 | 241.7 | 225.9 | 203.3 |
| April | 188.9 | 288.2 | 216.3 | 192.7 | 150.3 | 210.1 | 233.1 | 241.8 | 227.0 | 204.2 |
| May | 189.0 | 288.6 | 216.3 | 194.2 | 151.3 | 210.0 | 233.7 | 242.1 | 228.1 | 204.5 |
| June | 190.7 | 291.7 | 218.1 | 192.8 | 151.8 | 218.7 | 233.6 | 242.4 | 226.0 | 207.1 |
| July | 190.2 | 291.2 | 217.3 | 196.5 | 151.7 | 222.6 | 232.5 | 242.4 | 228.3 | 207.8 |
| August | 190.8 | 292.0 | 217.3 | 198.3 | 152.1 | 222.6 | 232.5 | 242.7 | 230.2 | 208.3 |
| September | 193.8 | 296.3 | 219.4 | 199.1 | 152.7 | 223.0 | 232.2 | 242.6 | 230.3 | 209.9 |
| October | 196.8 | 300.2 | 220.1 | 199.2 | 154.1 | 223.0 | 232.2 | 242.5 | 231.4 | 211.3 |
| November | 199.7 | 298.7 | 220.2 | 199.1 | 155.4 | 223.0 | 236.3 | 243.5 | 231.6 | 212.4 |
| December | 204.5 | 299.7 | 221.3 | 199.3 | 155.5 | 226.1 | 236.8 | 243.7 | 232.2 | 214.8 |
| Average | 191.7 | 290.3 | 217.7 | 196.1 | 151.7 | 216.0 | 234.4 | 242.3 | 228.1 | 207.0 |
| 2002 | ||||||||||
| January | 208.4 | 303.5 | 221.3 | 203.3 | 156.0 | 226.3 | 246.6 | 248.1 | 235.4 | 217.0 |
| February | 210.4 | 302.5 | 221.3 | 206.6 | 156.0 | 227.4 | 247.0 | 248.9 | 236.8 | 218.0 |
| March | 215.9 | 308.7 | 223.2 | 206.6 | 157.5 | 235.7 | 247.3 | 250.0 | 239.8 | 222.3 |
| April | 220.3 | 317.9 | 223.2 | 206.9 | 160.1 | 238.9 | 248.6 | 250.0 | 243.0 | 225.1 |
| May | 223.6 | 319.4 | 224.2 | 207.7 | 161.3 | 238.9 | 249.2 | 252.0 | 245.7 | 226.7 |
| June | 225.1 | 319.5 | 228.1 | 207.7 | 164.8 | 239.4 | 253.3 | 254.0 | 249.8 | 228.9 |
| July | 230.3 | 320.9 | 236.8 | 207.8 | 166.4 | 240.1 | 254.5 | 255.0 | 249.7 | 232.5 |
| August | 230.5 | 323.1 | 236.8 | 209.1 | 166.6 | 242.2 | 254.5 | 255.1 | 248.9 | 233.1 |
| September | 236.4 | 327.7 | 239.1 | 208.5 | 167.3 | 250.4 | 255.6 | 255.4 | 251.5 | 237.4 |
| October | 244.0 | 305.7 | 239.1 | 213.0 | 166.9 | 253.0 | 256.4 | 263.3 | 251.5 | 239.5 |
| November | 251.4 | 305.6 | 239.0 | 213.0 | 167.0 | 253.0 | 256.4 | 263.6 | 251.0 | 241.6 |
| December | 253.7 | 313.4 | 239.8 | 215.5 | 168.2 | 257.8 | 257.2 | 263.9 | 251.8 | 244.0 |
| Average | 229.2 | 314.0 | 231.0 | 208.8 | 163.2 | 241.9 | 252.2 | 254.9 | 246.2 | 230.5 |
| 2003 | ||||||||||
| January | 254.5 | 314.2 | 239.9 | 215.1 | 168.5 | 256.0 | 276.9 | 269.9 | 252.4 | 244.8 |
| February | 249.4 | 314.1 | 239.8 | 215.2 | 169.0 | 256.4 | 277.1 | 269.1 | 254.5 | 243.6 |
| March | 247.4 | 326.9 | 245.4 | 199.9 | 168.7 | 254.6 | 277.0 | 269.8 | 259.6 | 244.0 |
| April | 243.3 | 338.7 | 245.4 | 204.4 | 170.7 | 252.1 | 278.1 | 270.7 | 261.5 | 243.4 |
| May | 245.7 | 342.0 | 245.4 | 201.8 | 171.4 | 252.1 | 279.6 | 270.7 | 283.5 | 245.8 |
| June | 247.4 | 350.2 | 246.0 | 204.3 | 172.5 | 257.2 | 279.0 | 270.0 | 287.8 | 248.2 |
| July | 245.3 | 355.2 | 252.1 | 205.1 | 172.6 | 255.2 | 279.7 | 270.3 | 291.7 | 249.0 |
| August | 244.5 | 352.2 | 252.1 | 204.5 | 172.5 | 255.2 | 280.5 | 274.5 | 291.9 | 248.7 |
| September | 245.1 | 355.4 | 251.4 | 202.5 | 171.6 | 257.1 | 280.6 | 275.2 | 295.3 | 249.3 |
| October | 248.0 | 355.4 | 251.3 | 200.4 | 171.9 | 251.0 | 278.3 | 276.0 | 294.9 | 248.7 |
| November | 253.6 | 354.7 | 251.4 | 199.7 | 172.0 | 251.0 | 278.5 | 276.0 | 294.3 | 250.2 |
| December | 250.0 | 355.2 | 251.4 | 199.4 | 170.5 | 250.9 | 278.3 | 276.4 | 293.4 | 249.0 |
| Average | 247.8 | 342.9 | 247.6 | 204.3 | 171.0 | 254.0 | 278.6 | 272.4 | 280.1 | 247.1 |
| 2004 | ||||||||||
| January | 250.9 | 355.4 | 251.4 | 199.4 | 171.3 | 249.3 | 300.6 | 301.5 | 299.5 | 250.7 |
| February | 251.9 | 362.7 | 251.4 | 206.0 | 171.5 | 249.2 | 298.9 | 301.8 | 303.1 | 251.7 |
| March | 254.6 | 371.1 | 254.7 | 203.0 | 170.2 | 249.5 | 300.2 | 302.0 | 302.4 | 253.3 |
| April | 252.1 | 369.7 | 254.8 | 204.6 | 170.9 | 253.5 | 299.7 | 301.7 | 300.5 | 253.4 |
| May | 252.4 | 372.2 | 254.9 | 210.1 | 171.8 | 252.5 | 299.8 | 302.2 | 301.2 | 253.7 |
| June | 251.0 | 373.3 | 254.4 | 210.9 | 172.2 | 253.2 | 297.0 | 301.7 | 306.0 | 253.7 |
| July | 250.5 | 373.8 | 270.2 | 210.9 | 171.8 | 258.9 | 299.6 | 302.1 | 305.4 | 258.0 |
| August | 252.5 | 374.5 | 271.1 | 212.4 | 172.3 | 258.9 | 300.1 | 301.9 | 310.2 | 259.2 |
| September | 251.7 | 376.4 | 272.0 | 214.9 | 172.3 | 259.0 | 301.3 | 305.8 | 311.1 | 259.5 |
| October | 256.2 | 379.3 | 271.9 | 214.4 | 171.7 | 259.0 | 301.7 | 305.4 | 311.2 | 260.8 |
| November | 255.6 | 384.4 | 272.5 | 214.9 | 172.6 | 267.6 | 301.7 | 305.4 | 308.1 | 262.7 |
Namibia: Consumer Price Index (Windhoek), January 2001–November 2004
(Index, December 1992=100)
| Food | Beverages and Tobacco | Housing, Fuel, and Power | Clothing and Footwear | Household Goods, etc. | Transport and Communications | Recreation, etc. | Medical Health Care | Miscellaneous Goods and Services | All Items | |
|---|---|---|---|---|---|---|---|---|---|---|
| Weights | 28.4 | 4.1 | 19.9 | 4.3 | 10.2 | 20.7 | 4.1 | 1.4 | 6.9 | 100.0 |
| 2001 | ||||||||||
| January | 183.2 | 275.0 | 214.7 | 193.3 | 147.6 | 202.6 | 237.0 | 241.0 | 220.9 | 199.7 |
| February | 185.3 | 275.7 | 214.7 | 193.8 | 148.4 | 202.7 | 240.2 | 241.0 | 225.5 | 200.9 |
| March | 187.7 | 285.8 | 216.3 | 194.5 | 149.2 | 208.3 | 233.0 | 241.7 | 225.9 | 203.3 |
| April | 188.9 | 288.2 | 216.3 | 192.7 | 150.3 | 210.1 | 233.1 | 241.8 | 227.0 | 204.2 |
| May | 189.0 | 288.6 | 216.3 | 194.2 | 151.3 | 210.0 | 233.7 | 242.1 | 228.1 | 204.5 |
| June | 190.7 | 291.7 | 218.1 | 192.8 | 151.8 | 218.7 | 233.6 | 242.4 | 226.0 | 207.1 |
| July | 190.2 | 291.2 | 217.3 | 196.5 | 151.7 | 222.6 | 232.5 | 242.4 | 228.3 | 207.8 |
| August | 190.8 | 292.0 | 217.3 | 198.3 | 152.1 | 222.6 | 232.5 | 242.7 | 230.2 | 208.3 |
| September | 193.8 | 296.3 | 219.4 | 199.1 | 152.7 | 223.0 | 232.2 | 242.6 | 230.3 | 209.9 |
| October | 196.8 | 300.2 | 220.1 | 199.2 | 154.1 | 223.0 | 232.2 | 242.5 | 231.4 | 211.3 |
| November | 199.7 | 298.7 | 220.2 | 199.1 | 155.4 | 223.0 | 236.3 | 243.5 | 231.6 | 212.4 |
| December | 204.5 | 299.7 | 221.3 | 199.3 | 155.5 | 226.1 | 236.8 | 243.7 | 232.2 | 214.8 |
| Average | 191.7 | 290.3 | 217.7 | 196.1 | 151.7 | 216.0 | 234.4 | 242.3 | 228.1 | 207.0 |
| 2002 | ||||||||||
| January | 208.4 | 303.5 | 221.3 | 203.3 | 156.0 | 226.3 | 246.6 | 248.1 | 235.4 | 217.0 |
| February | 210.4 | 302.5 | 221.3 | 206.6 | 156.0 | 227.4 | 247.0 | 248.9 | 236.8 | 218.0 |
| March | 215.9 | 308.7 | 223.2 | 206.6 | 157.5 | 235.7 | 247.3 | 250.0 | 239.8 | 222.3 |
| April | 220.3 | 317.9 | 223.2 | 206.9 | 160.1 | 238.9 | 248.6 | 250.0 | 243.0 | 225.1 |
| May | 223.6 | 319.4 | 224.2 | 207.7 | 161.3 | 238.9 | 249.2 | 252.0 | 245.7 | 226.7 |
| June | 225.1 | 319.5 | 228.1 | 207.7 | 164.8 | 239.4 | 253.3 | 254.0 | 249.8 | 228.9 |
| July | 230.3 | 320.9 | 236.8 | 207.8 | 166.4 | 240.1 | 254.5 | 255.0 | 249.7 | 232.5 |
| August | 230.5 | 323.1 | 236.8 | 209.1 | 166.6 | 242.2 | 254.5 | 255.1 | 248.9 | 233.1 |
| September | 236.4 | 327.7 | 239.1 | 208.5 | 167.3 | 250.4 | 255.6 | 255.4 | 251.5 | 237.4 |
| October | 244.0 | 305.7 | 239.1 | 213.0 | 166.9 | 253.0 | 256.4 | 263.3 | 251.5 | 239.5 |
| November | 251.4 | 305.6 | 239.0 | 213.0 | 167.0 | 253.0 | 256.4 | 263.6 | 251.0 | 241.6 |
| December | 253.7 | 313.4 | 239.8 | 215.5 | 168.2 | 257.8 | 257.2 | 263.9 | 251.8 | 244.0 |
| Average | 229.2 | 314.0 | 231.0 | 208.8 | 163.2 | 241.9 | 252.2 | 254.9 | 246.2 | 230.5 |
| 2003 | ||||||||||
| January | 254.5 | 314.2 | 239.9 | 215.1 | 168.5 | 256.0 | 276.9 | 269.9 | 252.4 | 244.8 |
| February | 249.4 | 314.1 | 239.8 | 215.2 | 169.0 | 256.4 | 277.1 | 269.1 | 254.5 | 243.6 |
| March | 247.4 | 326.9 | 245.4 | 199.9 | 168.7 | 254.6 | 277.0 | 269.8 | 259.6 | 244.0 |
| April | 243.3 | 338.7 | 245.4 | 204.4 | 170.7 | 252.1 | 278.1 | 270.7 | 261.5 | 243.4 |
| May | 245.7 | 342.0 | 245.4 | 201.8 | 171.4 | 252.1 | 279.6 | 270.7 | 283.5 | 245.8 |
| June | 247.4 | 350.2 | 246.0 | 204.3 | 172.5 | 257.2 | 279.0 | 270.0 | 287.8 | 248.2 |
| July | 245.3 | 355.2 | 252.1 | 205.1 | 172.6 | 255.2 | 279.7 | 270.3 | 291.7 | 249.0 |
| August | 244.5 | 352.2 | 252.1 | 204.5 | 172.5 | 255.2 | 280.5 | 274.5 | 291.9 | 248.7 |
| September | 245.1 | 355.4 | 251.4 | 202.5 | 171.6 | 257.1 | 280.6 | 275.2 | 295.3 | 249.3 |
| October | 248.0 | 355.4 | 251.3 | 200.4 | 171.9 | 251.0 | 278.3 | 276.0 | 294.9 | 248.7 |
| November | 253.6 | 354.7 | 251.4 | 199.7 | 172.0 | 251.0 | 278.5 | 276.0 | 294.3 | 250.2 |
| December | 250.0 | 355.2 | 251.4 | 199.4 | 170.5 | 250.9 | 278.3 | 276.4 | 293.4 | 249.0 |
| Average | 247.8 | 342.9 | 247.6 | 204.3 | 171.0 | 254.0 | 278.6 | 272.4 | 280.1 | 247.1 |
| 2004 | ||||||||||
| January | 250.9 | 355.4 | 251.4 | 199.4 | 171.3 | 249.3 | 300.6 | 301.5 | 299.5 | 250.7 |
| February | 251.9 | 362.7 | 251.4 | 206.0 | 171.5 | 249.2 | 298.9 | 301.8 | 303.1 | 251.7 |
| March | 254.6 | 371.1 | 254.7 | 203.0 | 170.2 | 249.5 | 300.2 | 302.0 | 302.4 | 253.3 |
| April | 252.1 | 369.7 | 254.8 | 204.6 | 170.9 | 253.5 | 299.7 | 301.7 | 300.5 | 253.4 |
| May | 252.4 | 372.2 | 254.9 | 210.1 | 171.8 | 252.5 | 299.8 | 302.2 | 301.2 | 253.7 |
| June | 251.0 | 373.3 | 254.4 | 210.9 | 172.2 | 253.2 | 297.0 | 301.7 | 306.0 | 253.7 |
| July | 250.5 | 373.8 | 270.2 | 210.9 | 171.8 | 258.9 | 299.6 | 302.1 | 305.4 | 258.0 |
| August | 252.5 | 374.5 | 271.1 | 212.4 | 172.3 | 258.9 | 300.1 | 301.9 | 310.2 | 259.2 |
| September | 251.7 | 376.4 | 272.0 | 214.9 | 172.3 | 259.0 | 301.3 | 305.8 | 311.1 | 259.5 |
| October | 256.2 | 379.3 | 271.9 | 214.4 | 171.7 | 259.0 | 301.7 | 305.4 | 311.2 | 260.8 |
| November | 255.6 | 384.4 | 272.5 | 214.9 | 172.6 | 267.6 | 301.7 | 305.4 | 308.1 | 262.7 |
Namibia: Financial Operations of the Central Government, 1998/99–2003/04 1/
(In millions of Namibia dollars)
Fiscal year begins April 1.
Transfers from the common revenue pool (customs and excise) of the Southern African Customs Union.
Includes externally financed project spending (except for roads) that is not channeled through the state account.
Namibia: Financial Operations of the Central Government, 1998/99–2003/04 1/
(In millions of Namibia dollars)
| 1998/99 | 1999/00 | 2000/01 | 2001/02 | 2002/03 | 2003/04 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue and grants | 6,132 | 7,228 | 8,209 | 8,960 | 10,469 | 9,754 | ||||
| Revenue | 6,095 | 7,183 | 8,166 | 8,902 | 10,435 | 9,720 | ||||
| Tax revenue | 5,403 | 6,486 | 7,461 | 8,054 | 9,196 | 8,633 | ||||
| Personal income tax | 1,241 | 1,509 | 1,507 | 1,833 | 2,181 | 2,334 | ||||
| Corporate income tax | 721 | 713 | 903 | 1,335 | 2,113 | 1,198 | ||||
| Diamond mining | 161 | 143 | 440 | 764 | 1,157 | 175 | ||||
| Other mining | 19 | 212 | 36 | 106 | 284 | 3 | ||||
| Non-mining | 540 | 359 | 426 | 465 | 672 | 1,020 | ||||
| VAT and sales taxes | 1,273 | 1,470 | 1,766 | 1,938 | 2,009 | 1,756 | ||||
| International taxes (SACU receipts) 2/ | 1,805 | 2,241 | 2,877 | 2,641 | 2,597 | 3,036 | ||||
| Other | 363 | 553 | 407 | 306 | 296 | 309 | ||||
| Nontax revenue | 691 | 697 | 704 | 847 | 1,239 | 1,087 | ||||
| Diamond royalties | 199 | 270 | 240 | 286 | 479 | 302 | ||||
| Administrative fees, including license revenues | 259 | 210 | 237 | 258 | 388 | 461 | ||||
| Other | 233 | 217 | 227 | 303 | 372 | 324 | ||||
| Grants (tied) | 37 | 44 | 44 | 58 | 34 | 34 | ||||
| Expenditures | 6,880 | 7,736 | 8,566 | 10,256 | 11,573 | 12,344 | ||||
| Current expenditure | 6,133 | 6,705 | 7,253 | 8,717 | 9,482 | 10,387 | ||||
| Personnel | 3,169 | 3,615 | 3,720 | 4,326 | 4,709 | 5,117 | ||||
| Goods and services | 1,373 | 1,421 | 1,571 | 2,034 | 2,057 | 2,150 | ||||
| Interest payments | 489 | 492 | 533 | 587 | 823 | 865 | ||||
| Domestic | 476 | 479 | 520 | 559 | 772 | 814 | ||||
| Foreign | 13 | 13 | 13 | 28 | 52 | 51 | ||||
| Subsidies and current transfers | 1,071 | 1,141 | 1,395 | 1,770 | 1,893 | 2,255 | ||||
| Other | 30 | 36 | 34 | 0 | 0 | 0 | ||||
| Capital expenditure | 705 | 941 | 1,182 | 1,082 | 1,457 | 1,570 | ||||
| Acquisition of capital assets | 685 | 907 | 1,152 | 1,038 | 1,370 | 1,479 | ||||
| Capital transfers | 20 | 33 | 30 | 44 | 87 | 91 | ||||
| Net lending | 42 | 89 | 131 | 456 | 634 | 387 | ||||
| Overall balance 3/ | -748 | -508 | -357 | -1,296 | -1,104 | -2,590 | ||||
| Primary balance 3/ | -259 | -16 | 176 | -709 | -280 | -1,725 | ||||
| Statistical discrepancy | -157 | 95 | 345 | -132 | -27 | 22 | ||||
| Financing | 591 | 603 | 702 | 1,164 | 1,076 | 2,611 | ||||
| Domestic | 584 | 596 | 401 | 1,062 | 815 | 2,387 | ||||
| External | 7 | 6 | 301 | 103 | 261 | 224 | ||||
| Disbursements | 8 | 7 | 308 | 110 | 275 | 244 | ||||
| Amortization | -1 | -1 | -7 | -7 | -14 | -20 | ||||
Fiscal year begins April 1.
Transfers from the common revenue pool (customs and excise) of the Southern African Customs Union.
Includes externally financed project spending (except for roads) that is not channeled through the state account.
Namibia: Financial Operations of the Central Government, 1998/99–2003/04 1/
(In millions of Namibia dollars)
| 1998/99 | 1999/00 | 2000/01 | 2001/02 | 2002/03 | 2003/04 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue and grants | 6,132 | 7,228 | 8,209 | 8,960 | 10,469 | 9,754 | ||||
| Revenue | 6,095 | 7,183 | 8,166 | 8,902 | 10,435 | 9,720 | ||||
| Tax revenue | 5,403 | 6,486 | 7,461 | 8,054 | 9,196 | 8,633 | ||||
| Personal income tax | 1,241 | 1,509 | 1,507 | 1,833 | 2,181 | 2,334 | ||||
| Corporate income tax | 721 | 713 | 903 | 1,335 | 2,113 | 1,198 | ||||
| Diamond mining | 161 | 143 | 440 | 764 | 1,157 | 175 | ||||
| Other mining | 19 | 212 | 36 | 106 | 284 | 3 | ||||
| Non-mining | 540 | 359 | 426 | 465 | 672 | 1,020 | ||||
| VAT and sales taxes | 1,273 | 1,470 | 1,766 | 1,938 | 2,009 | 1,756 | ||||
| International taxes (SACU receipts) 2/ | 1,805 | 2,241 | 2,877 | 2,641 | 2,597 | 3,036 | ||||
| Other | 363 | 553 | 407 | 306 | 296 | 309 | ||||
| Nontax revenue | 691 | 697 | 704 | 847 | 1,239 | 1,087 | ||||
| Diamond royalties | 199 | 270 | 240 | 286 | 479 | 302 | ||||
| Administrative fees, including license revenues | 259 | 210 | 237 | 258 | 388 | 461 | ||||
| Other | 233 | 217 | 227 | 303 | 372 | 324 | ||||
| Grants (tied) | 37 | 44 | 44 | 58 | 34 | 34 | ||||
| Expenditures | 6,880 | 7,736 | 8,566 | 10,256 | 11,573 | 12,344 | ||||
| Current expenditure | 6,133 | 6,705 | 7,253 | 8,717 | 9,482 | 10,387 | ||||
| Personnel | 3,169 | 3,615 | 3,720 | 4,326 | 4,709 | 5,117 | ||||
| Goods and services | 1,373 | 1,421 | 1,571 | 2,034 | 2,057 | 2,150 | ||||
| Interest payments | 489 | 492 | 533 | 587 | 823 | 865 | ||||
| Domestic | 476 | 479 | 520 | 559 | 772 | 814 | ||||
| Foreign | 13 | 13 | 13 | 28 | 52 | 51 | ||||
| Subsidies and current transfers | 1,071 | 1,141 | 1,395 | 1,770 | 1,893 | 2,255 | ||||
| Other | 30 | 36 | 34 | 0 | 0 | 0 | ||||
| Capital expenditure | 705 | 941 | 1,182 | 1,082 | 1,457 | 1,570 | ||||
| Acquisition of capital assets | 685 | 907 | 1,152 | 1,038 | 1,370 | 1,479 | ||||
| Capital transfers | 20 | 33 | 30 | 44 | 87 | 91 | ||||
| Net lending | 42 | 89 | 131 | 456 | 634 | 387 | ||||
| Overall balance 3/ | -748 | -508 | -357 | -1,296 | -1,104 | -2,590 | ||||
| Primary balance 3/ | -259 | -16 | 176 | -709 | -280 | -1,725 | ||||
| Statistical discrepancy | -157 | 95 | 345 | -132 | -27 | 22 | ||||
| Financing | 591 | 603 | 702 | 1,164 | 1,076 | 2,611 | ||||
| Domestic | 584 | 596 | 401 | 1,062 | 815 | 2,387 | ||||
| External | 7 | 6 | 301 | 103 | 261 | 224 | ||||
| Disbursements | 8 | 7 | 308 | 110 | 275 | 244 | ||||
| Amortization | -1 | -1 | -7 | -7 | -14 | -20 | ||||
Fiscal year begins April 1.
Transfers from the common revenue pool (customs and excise) of the Southern African Customs Union.
Includes externally financed project spending (except for roads) that is not channeled through the state account.
Namibia: Central Government Revenue and Grants, 1998/99–2003/04 1/
(In millions of Namibia dollars)
Fiscal year begins April 1.
Transfers from the common revenue pool (customs and excise) of the Southern African Customs Union.
Namibia: Central Government Revenue and Grants, 1998/99–2003/04 1/
(In millions of Namibia dollars)
| 1998/99 | 1999/00 | 2000/01 | 2001/02 | 2002/03 | 2003/04 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Tax revenue | 5,403 | 6,486 | 7,461 | 8,054 | 9,196 | 8,633 | ||||
| Taxes on income/profits | 2,031 | 2,315 | 2,610 | 3,286 | 4,442 | 3,618 | ||||
| Personal | 1,241 | 1,509 | 1,507 | 1,833 | 2,181 | 2,334 | ||||
| Corporate | 721 | 713 | 903 | 1,335 | 2,113 | 1,198 | ||||
| Mining | 181 | 354 | 476 | 871 | 1,441 | 179 | ||||
| Diamond | 161 | 143 | 440 | 764 | 1,157 | 175 | ||||
| Other mining | 19 | 212 | 36 | 106 | 284 | 3 | ||||
| Other sectors | 540 | 359 | 426 | 465 | 672 | 1,020 | ||||
| Other income/profits taxes | 69 | 93 | 200 | 117 | 149 | 86 | ||||
| Property taxes | 40 | 47 | 63 | 64 | 79 | 75 | ||||
| Taxes on goods and services | 1,527 | 1,883 | 1,911 | 2,063 | 2,077 | 1,903 | ||||
| VAT and sales taxes | 1,273 | 1,470 | 1,766 | 1,938 | 2,009 | 1,756 | ||||
| Fuel levy | 211 | 361 | 90 | 58 | -7 | 64 | ||||
| Stamp duties | 43 | 51 | 55 | 68 | 76 | 83 | ||||
| Taxes on international trade (SACU receipts) 2/ | 1,805 | 2,241 | 2,877 | 2,641 | 2,597 | 3,036 | ||||
| Nontax revenue | 691 | 697 | 704 | 847 | 1,239 | 1,087 | ||||
| Property income | 423 | 476 | 446 | 571 | 831 | 607 | ||||
| Diamond royalties | 199 | 270 | 240 | 286 | 479 | 302 | ||||
| Fishing quota levies | 44 | 73 | 83 | 108 | 128 | 118 | ||||
| Interest on loans, investments, and central bank deposits | 31 | 27 | 27 | 54 | 62 | 27 | ||||
| Dividends from parastatals | 77 | 32 | 17 | 124 | 81 | 79 | ||||
| Compensation for use of the Rand | 71 | 75 | 79 | 0 | 81 | 81 | ||||
| Administrative fees, including license revenues | 259 | 210 | 237 | 258 | 388 | 461 | ||||
| Fines and forfeitures | 9 | 11 | 21 | 18 | 20 | 19 | ||||
| Total revenue | 6,095 | 7,183 | 8,166 | 8,902 | 10,435 | 9,720 | ||||
| Grants (tied) | 37 | 44 | 44 | 58 | 34 | 34 | ||||
| Recurrent activity | 25 | 44 | 25 | 3 | 10 | 34 | ||||
| Development projects | 12 | 0 | 18 | 55 | 24 | 0 | ||||
| Revenue and grants | 6,132 | 7,228 | 8,209 | 8,960 | 10,469 | 9,754 | ||||
Fiscal year begins April 1.
Transfers from the common revenue pool (customs and excise) of the Southern African Customs Union.
Namibia: Central Government Revenue and Grants, 1998/99–2003/04 1/
(In millions of Namibia dollars)
| 1998/99 | 1999/00 | 2000/01 | 2001/02 | 2002/03 | 2003/04 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Tax revenue | 5,403 | 6,486 | 7,461 | 8,054 | 9,196 | 8,633 | ||||
| Taxes on income/profits | 2,031 | 2,315 | 2,610 | 3,286 | 4,442 | 3,618 | ||||
| Personal | 1,241 | 1,509 | 1,507 | 1,833 | 2,181 | 2,334 | ||||
| Corporate | 721 | 713 | 903 | 1,335 | 2,113 | 1,198 | ||||
| Mining | 181 | 354 | 476 | 871 | 1,441 | 179 | ||||
| Diamond | 161 | 143 | 440 | 764 | 1,157 | 175 | ||||
| Other mining | 19 | 212 | 36 | 106 | 284 | 3 | ||||
| Other sectors | 540 | 359 | 426 | 465 | 672 | 1,020 | ||||
| Other income/profits taxes | 69 | 93 | 200 | 117 | 149 | 86 | ||||
| Property taxes | 40 | 47 | 63 | 64 | 79 | 75 | ||||
| Taxes on goods and services | 1,527 | 1,883 | 1,911 | 2,063 | 2,077 | 1,903 | ||||
| VAT and sales taxes | 1,273 | 1,470 | 1,766 | 1,938 | 2,009 | 1,756 | ||||
| Fuel levy | 211 | 361 | 90 | 58 | -7 | 64 | ||||
| Stamp duties | 43 | 51 | 55 | 68 | 76 | 83 | ||||
| Taxes on international trade (SACU receipts) 2/ | 1,805 | 2,241 | 2,877 | 2,641 | 2,597 | 3,036 | ||||
| Nontax revenue | 691 | 697 | 704 | 847 | 1,239 | 1,087 | ||||
| Property income | 423 | 476 | 446 | 571 | 831 | 607 | ||||
| Diamond royalties | 199 | 270 | 240 | 286 | 479 | 302 | ||||
| Fishing quota levies | 44 | 73 | 83 | 108 | 128 | 118 | ||||
| Interest on loans, investments, and central bank deposits | 31 | 27 | 27 | 54 | 62 | 27 | ||||
| Dividends from parastatals | 77 | 32 | 17 | 124 | 81 | 79 | ||||
| Compensation for use of the Rand | 71 | 75 | 79 | 0 | 81 | 81 | ||||
| Administrative fees, including license revenues | 259 | 210 | 237 | 258 | 388 | 461 | ||||
| Fines and forfeitures | 9 | 11 | 21 | 18 | 20 | 19 | ||||
| Total revenue | 6,095 | 7,183 | 8,166 | 8,902 | 10,435 | 9,720 | ||||
| Grants (tied) | 37 | 44 | 44 | 58 | 34 | 34 | ||||
| Recurrent activity | 25 | 44 | 25 | 3 | 10 | 34 | ||||
| Development projects | 12 | 0 | 18 | 55 | 24 | 0 | ||||
| Revenue and grants | 6,132 | 7,228 | 8,209 | 8,960 | 10,469 | 9,754 | ||||
Fiscal year begins April 1.
Transfers from the common revenue pool (customs and excise) of the Southern African Customs Union.
Namibia: Central Government Revenue and Grants, 1998/99–2003/04 1/
(In percent of GDP)
Fiscal year begins April 1.
Transfers from the common revenue pool (customs and excise) of the Southern African Customs Union.
Namibia: Central Government Revenue and Grants, 1998/99–2003/04 1/
(In percent of GDP)
| 1998/99 | 1999/00 | 2000/01 | 2001/02 | 2002/03 | 2003/04 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Tax revenue | 28.1 | 30.3 | 30.2 | 28.1 | 29.0 | 26.1 | ||||
| Taxes on income/profits | 10.6 | 10.8 | 10.6 | 11.5 | 14.0 | 10.9 | ||||
| Personal | 6.4 | 7.1 | 6.1 | 6.4 | 6.9 | 7.1 | ||||
| Corporate | 3.7 | 3.3 | 3.7 | 4.7 | 6.7 | 3.6 | ||||
| Mining | 0.9 | 1.7 | 1.9 | 3.0 | 4.5 | 0.5 | ||||
| Diamond | 0.8 | 0.7 | 1.8 | 2.7 | 3.6 | 0.5 | ||||
| Other mining | 0.1 | 1.0 | 0.1 | 0.4 | 0.9 | 0.0 | ||||
| Other sectors | 2.8 | 1.7 | 1.7 | 1.6 | 2.1 | 3.1 | ||||
| Other income/profits taxes | 0.4 | 0.4 | 0.8 | 0.4 | 0.5 | 0.3 | ||||
| Property taxes | 0.2 | 0.2 | 0.3 | 0.2 | 0.2 | 0.2 | ||||
| Taxes on goods and services | 7.9 | 8.8 | 7.7 | 7.2 | 6.5 | 5.8 | ||||
| VAT and sales taxes | 6.6 | 6.9 | 7.2 | 6.8 | 6.3 | 5.3 | ||||
| Fuel levy | 1.1 | 1.7 | 0.4 | 0.2 | 0.0 | 0.2 | ||||
| Stamp duties | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | ||||
| Taxes on international trade (SACU receipts) 2/ | 9.4 | 10.5 | 11.7 | 9.2 | 8.2 | 9.2 | ||||
| Nontax revenue | 3.6 | 3.3 | 2.9 | 3.0 | 3.9 | 3.3 | ||||
| Property income | 2.2 | 2.2 | 1.8 | 2.0 | 2.6 | 1.8 | ||||
| Diamond royalties | 1.0 | 1.3 | 1.0 | 1.0 | 1.5 | 0.9 | ||||
| Fishing quota levies | 0.2 | 0.3 | 0.3 | 0.4 | 0.4 | 0.4 | ||||
| Interest on loans, investments, and central bank deposits | 0.2 | 0.1 | 0.1 | 0.2 | 0.2 | 0.1 | ||||
| Dividends from parastatals | 0.4 | 0.1 | 0.1 | 0.4 | 0.3 | 0.2 | ||||
| Compensation for use of the Rand | 0.4 | 0.3 | 0.3 | 0.0 | 0.3 | 0.2 | ||||
| Administrative fees, including license revenues | 1.3 | 1.0 | 1.0 | 0.9 | 1.2 | 1.4 | ||||
| Fines and forfeitures | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | ||||
| Total revenue | 31.7 | 33.6 | 33.1 | 31.1 | 32.9 | 29.4 | ||||
| Grants (tied) | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | ||||
| Recurrent activity | 0.1 | 0.2 | 0.1 | 0.0 | 0.0 | 0.1 | ||||
| Development projects | 0.1 | 0.0 | 0.1 | 0.2 | 0.1 | 0.0 | ||||
| Revenue and grants | 31.9 | 33.8 | 33.3 | 31.3 | 33.0 | 29.5 | ||||
| Memorandum item: | ||||||||||
| GDP at current market prices | 19,249 | 21,395 | 24,689 | 28,652 | 31,740 | 33,062 | ||||
Fiscal year begins April 1.
Transfers from the common revenue pool (customs and excise) of the Southern African Customs Union.
Namibia: Central Government Revenue and Grants, 1998/99–2003/04 1/
(In percent of GDP)
| 1998/99 | 1999/00 | 2000/01 | 2001/02 | 2002/03 | 2003/04 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Tax revenue | 28.1 | 30.3 | 30.2 | 28.1 | 29.0 | 26.1 | ||||
| Taxes on income/profits | 10.6 | 10.8 | 10.6 | 11.5 | 14.0 | 10.9 | ||||
| Personal | 6.4 | 7.1 | 6.1 | 6.4 | 6.9 | 7.1 | ||||
| Corporate | 3.7 | 3.3 | 3.7 | 4.7 | 6.7 | 3.6 | ||||
| Mining | 0.9 | 1.7 | 1.9 | 3.0 | 4.5 | 0.5 | ||||
| Diamond | 0.8 | 0.7 | 1.8 | 2.7 | 3.6 | 0.5 | ||||
| Other mining | 0.1 | 1.0 | 0.1 | 0.4 | 0.9 | 0.0 | ||||
| Other sectors | 2.8 | 1.7 | 1.7 | 1.6 | 2.1 | 3.1 | ||||
| Other income/profits taxes | 0.4 | 0.4 | 0.8 | 0.4 | 0.5 | 0.3 | ||||
| Property taxes | 0.2 | 0.2 | 0.3 | 0.2 | 0.2 | 0.2 | ||||
| Taxes on goods and services | 7.9 | 8.8 | 7.7 | 7.2 | 6.5 | 5.8 | ||||
| VAT and sales taxes | 6.6 | 6.9 | 7.2 | 6.8 | 6.3 | 5.3 | ||||
| Fuel levy | 1.1 | 1.7 | 0.4 | 0.2 | 0.0 | 0.2 | ||||
| Stamp duties | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | ||||
| Taxes on international trade (SACU receipts) 2/ | 9.4 | 10.5 | 11.7 | 9.2 | 8.2 | 9.2 | ||||
| Nontax revenue | 3.6 | 3.3 | 2.9 | 3.0 | 3.9 | 3.3 | ||||
| Property income | 2.2 | 2.2 | 1.8 | 2.0 | 2.6 | 1.8 | ||||
| Diamond royalties | 1.0 | 1.3 | 1.0 | 1.0 | 1.5 | 0.9 | ||||
| Fishing quota levies | 0.2 | 0.3 | 0.3 | 0.4 | 0.4 | 0.4 | ||||
| Interest on loans, investments, and central bank deposits | 0.2 | 0.1 | 0.1 | 0.2 | 0.2 | 0.1 | ||||
| Dividends from parastatals | 0.4 | 0.1 | 0.1 | 0.4 | 0.3 | 0.2 | ||||
| Compensation for use of the Rand | 0.4 | 0.3 | 0.3 | 0.0 | 0.3 | 0.2 | ||||
| Administrative fees, including license revenues | 1.3 | 1.0 | 1.0 | 0.9 | 1.2 | 1.4 | ||||
| Fines and forfeitures | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | ||||
| Total revenue | 31.7 | 33.6 | 33.1 | 31.1 | 32.9 | 29.4 | ||||
| Grants (tied) | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | ||||
| Recurrent activity | 0.1 | 0.2 | 0.1 | 0.0 | 0.0 | 0.1 | ||||
| Development projects | 0.1 | 0.0 | 0.1 | 0.2 | 0.1 | 0.0 | ||||
| Revenue and grants | 31.9 | 33.8 | 33.3 | 31.3 | 33.0 | 29.5 | ||||
| Memorandum item: | ||||||||||
| GDP at current market prices | 19,249 | 21,395 | 24,689 | 28,652 | 31,740 | 33,062 | ||||
Fiscal year begins April 1.
Transfers from the common revenue pool (customs and excise) of the Southern African Customs Union.
Namibia: Central Government Expenditure, 1998/99-2003/04 1/
(In millions of Namibia dollars)
Fiscal year begins April 1.
This includes externally financed project spending (except for roads) that is not channeled through the state account.
Namibia: Central Government Expenditure, 1998/99-2003/04 1/
(In millions of Namibia dollars)
| 1998/99 | 1999/00 | 2000/01 | 2001/02 | 2002/03 | 2003/04 | |||
|---|---|---|---|---|---|---|---|---|
| Current expenditure | 6,133 | 6,705 | 7,253 | 8,717 | 9,482 | 10,387 | ||
| Personnel | 3,169 | 3,615 | 3,720 | 4,326 | 4,709 | 5,117 | ||
| Wages and salaries | 2,738 | 3,078 | 3,104 | … | 4,106 | … | ||
| Pension contributions | 336 | 432 | 445 | … | 508 | … | ||
| Cash benefits | 95 | 105 | 171 | … | 95 | … | ||
| Goods and services | 1,373 | 1,421 | 1,571 | 2,034 | 2,057 | 2,150 | ||
| Interest payments | 489 | 492 | 533 | 587 | 823 | 865 | ||
| Domestic | 476 | 479 | 520 | 559 | 772 | 814 | ||
| Foreign | 13 | 13 | 13 | 28 | 52 | 51 | ||
| Subsidies and current transfers | 1,071 | 1,141 | 1,395 | 1,770 | 1,893 | 2,255 | ||
| Other current expenditure | 30 | 36 | 34 | 0 | 0 | 0 | ||
| Capital expenditure | 705 | 941 | 1,182 | 1,082 | 1,457 | 1,570 | ||
| Acquisition of capital assets 2/ | 685 | 907 | 1,152 | 1,038 | 1,370 | 1,479 | ||
| Capital transfers | 20 | 33 | 30 | 44 | 87 | 91 | ||
| Net lending | 42 | 89 | 131 | 456 | 634 | 387 | ||
| Lending | 96 | 109 | 152 | 478 | 650 | 400 | ||
| Repayments | -54 | -20 | -21 | -21 | -16 | -13 | ||
| Total expenditure and net lending | 6,880 | 7,736 | 8,566 | 10,256 | 11,573 | 12,344 | ||
Fiscal year begins April 1.
This includes externally financed project spending (except for roads) that is not channeled through the state account.
Namibia: Central Government Expenditure, 1998/99-2003/04 1/
(In millions of Namibia dollars)
| 1998/99 | 1999/00 | 2000/01 | 2001/02 | 2002/03 | 2003/04 | |||
|---|---|---|---|---|---|---|---|---|
| Current expenditure | 6,133 | 6,705 | 7,253 | 8,717 | 9,482 | 10,387 | ||
| Personnel | 3,169 | 3,615 | 3,720 | 4,326 | 4,709 | 5,117 | ||
| Wages and salaries | 2,738 | 3,078 | 3,104 | … | 4,106 | … | ||
| Pension contributions | 336 | 432 | 445 | … | 508 | … | ||
| Cash benefits | 95 | 105 | 171 | … | 95 | … | ||
| Goods and services | 1,373 | 1,421 | 1,571 | 2,034 | 2,057 | 2,150 | ||
| Interest payments | 489 | 492 | 533 | 587 | 823 | 865 | ||
| Domestic | 476 | 479 | 520 | 559 | 772 | 814 | ||
| Foreign | 13 | 13 | 13 | 28 | 52 | 51 | ||
| Subsidies and current transfers | 1,071 | 1,141 | 1,395 | 1,770 | 1,893 | 2,255 | ||
| Other current expenditure | 30 | 36 | 34 | 0 | 0 | 0 | ||
| Capital expenditure | 705 | 941 | 1,182 | 1,082 | 1,457 | 1,570 | ||
| Acquisition of capital assets 2/ | 685 | 907 | 1,152 | 1,038 | 1,370 | 1,479 | ||
| Capital transfers | 20 | 33 | 30 | 44 | 87 | 91 | ||
| Net lending | 42 | 89 | 131 | 456 | 634 | 387 | ||
| Lending | 96 | 109 | 152 | 478 | 650 | 400 | ||
| Repayments | -54 | -20 | -21 | -21 | -16 | -13 | ||
| Total expenditure and net lending | 6,880 | 7,736 | 8,566 | 10,256 | 11,573 | 12,344 | ||
Fiscal year begins April 1.
This includes externally financed project spending (except for roads) that is not channeled through the state account.
Namibia: Central Government Expenditure, 1998/99-2003/04 1/
(In percent of GDP)
Fiscal year begins April 1.
This includes externally financed project spending (except for roads) that is not channeled through the state account.
Namibia: Central Government Expenditure, 1998/99-2003/04 1/
(In percent of GDP)
| 1998/99 | 1999/00 | 2000/01 | 2001/02 | 2002/03 | 2003/04 | |||
|---|---|---|---|---|---|---|---|---|
| Current expenditure | 31.9 | 31.3 | 29.4 | 30.4 | 29.9 | 31.4 | ||
| Personnel | 16.5 | 16.9 | 15.1 | 15.1 | 14.8 | 15.5 | ||
| Wages and salaries | 14.2 | 14.4 | 12.6 | … | 12.9 | … | ||
| Pension contributions | 1.7 | 2.0 | 1.8 | … | 1.6 | … | ||
| Cash benefits | 0.5 | 0.5 | 0.7 | … | 0.3 | … | ||
| Goods and services | 7.1 | 6.6 | 6.4 | 7.1 | 6.5 | 6.5 | ||
| Interest payments | 2.5 | 2.3 | 2.2 | 2.0 | 2.6 | 2.6 | ||
| Domestic | 2.5 | 2.2 | 2.1 | 2.0 | 2.4 | 2.5 | ||
| Foreign | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | ||
| Subsidies and current transfers | 5.6 | 5.3 | 5.7 | 6.2 | 6.0 | 6.8 | ||
| Other current expenditure | 0.2 | 0.2 | 0.1 | 0.0 | 0.0 | 0.0 | ||
| Capital expenditure | 3.7 | 4.4 | 4.8 | 3.8 | 4.6 | 4.7 | ||
| Acquisition of capital assets 2/ | 3.6 | 4.2 | 4.7 | 3.6 | 4.3 | 4.5 | ||
| Capital transfers | 0.1 | 0.2 | 0.1 | 0.2 | 0.3 | 0.3 | ||
| Net lending | 0.2 | 0.4 | 0.5 | 1.6 | 2.0 | 1.2 | ||
| Lending | 0.5 | 0.5 | 0.6 | 1.7 | 2.0 | 1.2 | ||
| Repayments | -0.3 | -0.1 | -0.1 | -0.1 | -0.1 | 0.0 | ||
| Total expenditure and net lending | 35.7 | 36.2 | 34.7 | 35.8 | 36.5 | 37.3 | ||
| Memorandum item: | ||||||||
| GDP at current market prices | 19,249 | 21,395 | 24,689 | 28,652 | 31,740 | 33,062 | ||
Fiscal year begins April 1.
This includes externally financed project spending (except for roads) that is not channeled through the state account.
Namibia: Central Government Expenditure, 1998/99-2003/04 1/
(In percent of GDP)
| 1998/99 | 1999/00 | 2000/01 | 2001/02 | 2002/03 | 2003/04 | |||
|---|---|---|---|---|---|---|---|---|
| Current expenditure | 31.9 | 31.3 | 29.4 | 30.4 | 29.9 | 31.4 | ||
| Personnel | 16.5 | 16.9 | 15.1 | 15.1 | 14.8 | 15.5 | ||
| Wages and salaries | 14.2 | 14.4 | 12.6 | … | 12.9 | … | ||
| Pension contributions | 1.7 | 2.0 | 1.8 | … | 1.6 | … | ||
| Cash benefits | 0.5 | 0.5 | 0.7 | … | 0.3 | … | ||
| Goods and services | 7.1 | 6.6 | 6.4 | 7.1 | 6.5 | 6.5 | ||
| Interest payments | 2.5 | 2.3 | 2.2 | 2.0 | 2.6 | 2.6 | ||
| Domestic | 2.5 | 2.2 | 2.1 | 2.0 | 2.4 | 2.5 | ||
| Foreign | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | ||
| Subsidies and current transfers | 5.6 | 5.3 | 5.7 | 6.2 | 6.0 | 6.8 | ||
| Other current expenditure | 0.2 | 0.2 | 0.1 | 0.0 | 0.0 | 0.0 | ||
| Capital expenditure | 3.7 | 4.4 | 4.8 | 3.8 | 4.6 | 4.7 | ||
| Acquisition of capital assets 2/ | 3.6 | 4.2 | 4.7 | 3.6 | 4.3 | 4.5 | ||
| Capital transfers | 0.1 | 0.2 | 0.1 | 0.2 | 0.3 | 0.3 | ||
| Net lending | 0.2 | 0.4 | 0.5 | 1.6 | 2.0 | 1.2 | ||
| Lending | 0.5 | 0.5 | 0.6 | 1.7 | 2.0 | 1.2 | ||
| Repayments | -0.3 | -0.1 | -0.1 | -0.1 | -0.1 | 0.0 | ||
| Total expenditure and net lending | 35.7 | 36.2 | 34.7 | 35.8 | 36.5 | 37.3 | ||
| Memorandum item: | ||||||||
| GDP at current market prices | 19,249 | 21,395 | 24,689 | 28,652 | 31,740 | 33,062 | ||
Fiscal year begins April 1.
This includes externally financed project spending (except for roads) that is not channeled through the state account.
Namibia: Functional Classification of Central Government Expenditure, 1998/99–2003/04 1/
(In millions of Namibia dollars)
Fiscal year begins April 1.
Actual data on functional spending for 2003/04 are not yet available.
Includes public debt transactions.
Namibia: Functional Classification of Central Government Expenditure, 1998/99–2003/04 1/
(In millions of Namibia dollars)
| 1998/99 | 1999/00 | 2000/01 | 2001/02 | 2002/03 | 2003/04 Revised Budget 2/ |
||
|---|---|---|---|---|---|---|---|
| General government services | 1,948 | 2,224 | 2,579 | 3,114 | 3,593 | 3,576 | |
| General public services | 1,014 | 981 | 1,174 | 1,236 | 1,631 | 1,429 | |
| Defense | 443 | 559 | 617 | 905 | 935 | 994 | |
| Public order and safety | 492 | 684 | 788 | 973 | 1,026 | 1,153 | |
| Community and social affairs and services | 3,280 | 3,745 | 4,191 | 5,179 | 5,362 | 6,101 | |
| Education | 1,701 | 1,863 | 1,970 | 2,344 | 2,367 | 2,650 | |
| Health | 713 | 837 | 925 | 1,025 | 1,097 | 1,205 | |
| Social security and welfare | 321 | 447 | 540 | 715 | 749 | 897 | |
| Housing and community amenity | 380 | 418 | 556 | 880 | 949 | 1,054 | |
| Recreational, cultural, and religious | 166 | 179 | 200 | 216 | 200 | 294 | |
| Economic affairs and services | 1,045 | 1,178 | 989 | 1,045 | 1,306 | 1,289 | |
| Fuel and energy | 41 | 34 | 39 | 35 | 38 | 38 | |
| Agriculture, forestry, fishing, and hunting | 490 | 521 | 523 | 580 | 625 | 617 | |
| Mining and mineral resources | 26 | 37 | 46 | 54 | 52 | 57 | |
| Transportation and communications | 320 | 415 | 122 | 73 | 109 | 162 | |
| Other | 168 | 170 | 258 | 304 | 482 | 416 | |
| Expenditure not classified by function 3/ | 442 | 495 | 536 | 678 | 819 | 877 | |
| Statistical discrepancy | 122 | 5 | 140 | -218 | -140 | 114 | |
| Total excluding lending | 6,838 | 7,646 | 8,435 | 9,800 | 10,939 | 11,957 | |
| Total expenditure and net lending | 6,880 | 7,736 | 8,566 | 10,256 | 11,573 | 12,344 | |
Fiscal year begins April 1.
Actual data on functional spending for 2003/04 are not yet available.
Includes public debt transactions.
Namibia: Functional Classification of Central Government Expenditure, 1998/99–2003/04 1/
(In millions of Namibia dollars)
| 1998/99 | 1999/00 | 2000/01 | 2001/02 | 2002/03 | 2003/04 Revised Budget 2/ |
||
|---|---|---|---|---|---|---|---|
| General government services | 1,948 | 2,224 | 2,579 | 3,114 | 3,593 | 3,576 | |
| General public services | 1,014 | 981 | 1,174 | 1,236 | 1,631 | 1,429 | |
| Defense | 443 | 559 | 617 | 905 | 935 | 994 | |
| Public order and safety | 492 | 684 | 788 | 973 | 1,026 | 1,153 | |
| Community and social affairs and services | 3,280 | 3,745 | 4,191 | 5,179 | 5,362 | 6,101 | |
| Education | 1,701 | 1,863 | 1,970 | 2,344 | 2,367 | 2,650 | |
| Health | 713 | 837 | 925 | 1,025 | 1,097 | 1,205 | |
| Social security and welfare | 321 | 447 | 540 | 715 | 749 | 897 | |
| Housing and community amenity | 380 | 418 | 556 | 880 | 949 | 1,054 | |
| Recreational, cultural, and religious | 166 | 179 | 200 | 216 | 200 | 294 | |
| Economic affairs and services | 1,045 | 1,178 | 989 | 1,045 | 1,306 | 1,289 | |
| Fuel and energy | 41 | 34 | 39 | 35 | 38 | 38 | |
| Agriculture, forestry, fishing, and hunting | 490 | 521 | 523 | 580 | 625 | 617 | |
| Mining and mineral resources | 26 | 37 | 46 | 54 | 52 | 57 | |
| Transportation and communications | 320 | 415 | 122 | 73 | 109 | 162 | |
| Other | 168 | 170 | 258 | 304 | 482 | 416 | |
| Expenditure not classified by function 3/ | 442 | 495 | 536 | 678 | 819 | 877 | |
| Statistical discrepancy | 122 | 5 | 140 | -218 | -140 | 114 | |
| Total excluding lending | 6,838 | 7,646 | 8,435 | 9,800 | 10,939 | 11,957 | |
| Total expenditure and net lending | 6,880 | 7,736 | 8,566 | 10,256 | 11,573 | 12,344 | |
Fiscal year begins April 1.
Actual data on functional spending for 2003/04 are not yet available.
Includes public debt transactions.
Namibia: Sectoral Share of Central Government Expenditure, 1998/99–2003/04 1/
Fiscal year begins April 1.
Actual data on functional spending for 2003/04 are not yet available.
Includes public debt transactions.
Namibia: Sectoral Share of Central Government Expenditure, 1998/99–2003/04 1/
| 1998/99 | 1999/00 | 2000/01 | 2001/02 | 2002/03 | 2003/04 Revised Budget 2/ |
||
|---|---|---|---|---|---|---|---|
| (In percent of total expenditure and net lending) | |||||||
| General government services | 28.3 | 28.8 | 30.1 | 30.4 | 31.0 | 29.0 | |
| General public services | 14.7 | 12.7 | 13.7 | 12.0 | 14.1 | 11.6 | |
| Defense | 6.4 | 7.2 | 7.2 | 8.8 | 8.1 | 8.1 | |
| Public order and safety | 7.2 | 8.8 | 9.2 | 9.5 | 8.9 | 9.3 | |
| Community and social affairs and services | 47.7 | 48.4 | 48.9 | 50.5 | 46.3 | 49.4 | |
| Education | 24.7 | 24.1 | 23.0 | 22.9 | 20.5 | 21.5 | |
| Health | 10.4 | 10.8 | 10.8 | 10.0 | 9.5 | 9.8 | |
| Social security and welfare | 4.7 | 5.8 | 6.3 | 7.0 | 6.5 | 7.3 | |
| Housing and community amenity | 5.5 | 5.4 | 6.5 | 8.6 | 8.2 | 8.5 | |
| Recreational, cultural and religious | 2.4 | 2.3 | 2.3 | 2.1 | 1.7 | 2.4 | |
| Economic affairs and services | 15.2 | 15.2 | 11.5 | 10.2 | 11.3 | 10.4 | |
| Fuel and energy | 0.6 | 0.4 | 0.5 | 0.3 | 0.3 | 0.3 | |
| Agriculture, forestry, fishing, and hunting | 7.1 | 6.7 | 6.1 | 5.7 | 5.4 | 5.0 | |
| Mining and mineral resources | 0.4 | 0.5 | 0.5 | 0.5 | 0.4 | 0.5 | |
| Transportation and communications | 4.7 | 5.4 | 1.4 | 0.7 | 0.9 | 1.3 | |
| Other | 2.4 | 2.2 | 3.0 | 3.0 | 4.2 | 3.4 | |
| Expenditure not classified by function 3/ | 6.4 | 6.4 | 6.3 | 6.6 | 7.1 | 7.1 | |
| Statistical discrepancy | 1.8 | 0.1 | 1.6 | -2.1 | -1.2 | 0.9 | |
| Total excluding lending | 99.4 | 98.8 | 98.5 | 95.5 | 94.5 | 96.9 | |
| Total expenditure and net lending | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | |
| (In percent of GDP) | |||||||
| General government services | 10.1 | 10.4 | 10.4 | 10.9 | 11.3 | 10.8 | |
| General public services | 5.3 | 4.6 | 4.8 | 4.3 | 5.1 | 4.3 | |
| Defense | 2.3 | 2.6 | 2.5 | 3.2 | 2.9 | 3.0 | |
| Public order and safety | 2.6 | 3.2 | 3.2 | 3.4 | 3.2 | 3.5 | |
| Community and social affairs and services | 17.0 | 17.5 | 17.0 | 18.1 | 16.9 | 18.5 | |
| Education | 8.8 | 8.7 | 8.0 | 8.2 | 7.5 | 8.0 | |
| Health | 3.7 | 3.9 | 3.7 | 3.6 | 3.5 | 3.6 | |
| Social security and welfare | 1.7 | 2.1 | 2.2 | 2.5 | 2.4 | 2.7 | |
| Housing and community amenity | 2.0 | 2.0 | 2.3 | 3.1 | 3.0 | 3.2 | |
| Recreational, cultural and religious | 0.9 | 0.8 | 0.8 | 0.8 | 0.6 | 0.9 | |
| Economic affairs and services | 5.4 | 5.5 | 4.0 | 3.6 | 4.1 | 3.9 | |
| Fuel and energy | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | |
| Agriculture, forestry, fishing, and hunting | 2.5 | 2.4 | 2.1 | 2.0 | 2.0 | 1.9 | |
| Mining and mineral resources | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | |
| Transportation and communications | 1.7 | 1.9 | 0.5 | 0.3 | 0.3 | 0.5 | |
| Other | 0.9 | 0.8 | 1.0 | 1.1 | 1.5 | 1.3 | |
| Expenditure not classified by function 3/ | 2.3 | 2.3 | 2.2 | 2.4 | 2.6 | 2.7 | |
| Statistical discrepancy | 0.6 | 0.0 | 0.6 | -0.8 | -0.4 | 0.3 | |
| Total excluding lending | 35.5 | 35.7 | 34.2 | 34.2 | 34.5 | 36.2 | |
| Total expenditure and net lending | 35.7 | 36.2 | 34.7 | 35.8 | 36.5 | 37.3 | |
| Memorandum item: | |||||||
| GDP at current market prices | 19,249 | 21,395 | 24,689 | 28,652 | 31,740 | 33,062 | |
Fiscal year begins April 1.
Actual data on functional spending for 2003/04 are not yet available.
Includes public debt transactions.
Namibia: Sectoral Share of Central Government Expenditure, 1998/99–2003/04 1/
| 1998/99 | 1999/00 | 2000/01 | 2001/02 | 2002/03 | 2003/04 Revised Budget 2/ |
||
|---|---|---|---|---|---|---|---|
| (In percent of total expenditure and net lending) | |||||||
| General government services | 28.3 | 28.8 | 30.1 | 30.4 | 31.0 | 29.0 | |
| General public services | 14.7 | 12.7 | 13.7 | 12.0 | 14.1 | 11.6 | |
| Defense | 6.4 | 7.2 | 7.2 | 8.8 | 8.1 | 8.1 | |
| Public order and safety | 7.2 | 8.8 | 9.2 | 9.5 | 8.9 | 9.3 | |
| Community and social affairs and services | 47.7 | 48.4 | 48.9 | 50.5 | 46.3 | 49.4 | |
| Education | 24.7 | 24.1 | 23.0 | 22.9 | 20.5 | 21.5 | |
| Health | 10.4 | 10.8 | 10.8 | 10.0 | 9.5 | 9.8 | |
| Social security and welfare | 4.7 | 5.8 | 6.3 | 7.0 | 6.5 | 7.3 | |
| Housing and community amenity | 5.5 | 5.4 | 6.5 | 8.6 | 8.2 | 8.5 | |
| Recreational, cultural and religious | 2.4 | 2.3 | 2.3 | 2.1 | 1.7 | 2.4 | |
| Economic affairs and services | 15.2 | 15.2 | 11.5 | 10.2 | 11.3 | 10.4 | |
| Fuel and energy | 0.6 | 0.4 | 0.5 | 0.3 | 0.3 | 0.3 | |
| Agriculture, forestry, fishing, and hunting | 7.1 | 6.7 | 6.1 | 5.7 | 5.4 | 5.0 | |
| Mining and mineral resources | 0.4 | 0.5 | 0.5 | 0.5 | 0.4 | 0.5 | |
| Transportation and communications | 4.7 | 5.4 | 1.4 | 0.7 | 0.9 | 1.3 | |
| Other | 2.4 | 2.2 | 3.0 | 3.0 | 4.2 | 3.4 | |
| Expenditure not classified by function 3/ | 6.4 | 6.4 | 6.3 | 6.6 | 7.1 | 7.1 | |
| Statistical discrepancy | 1.8 | 0.1 | 1.6 | -2.1 | -1.2 | 0.9 | |
| Total excluding lending | 99.4 | 98.8 | 98.5 | 95.5 | 94.5 | 96.9 | |
| Total expenditure and net lending | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | |
| (In percent of GDP) | |||||||
| General government services | 10.1 | 10.4 | 10.4 | 10.9 | 11.3 | 10.8 | |
| General public services | 5.3 | 4.6 | 4.8 | 4.3 | 5.1 | 4.3 | |
| Defense | 2.3 | 2.6 | 2.5 | 3.2 | 2.9 | 3.0 | |
| Public order and safety | 2.6 | 3.2 | 3.2 | 3.4 | 3.2 | 3.5 | |
| Community and social affairs and services | 17.0 | 17.5 | 17.0 | 18.1 | 16.9 | 18.5 | |
| Education | 8.8 | 8.7 | 8.0 | 8.2 | 7.5 | 8.0 | |
| Health | 3.7 | 3.9 | 3.7 | 3.6 | 3.5 | 3.6 | |
| Social security and welfare | 1.7 | 2.1 | 2.2 | 2.5 | 2.4 | 2.7 | |
| Housing and community amenity | 2.0 | 2.0 | 2.3 | 3.1 | 3.0 | 3.2 | |
| Recreational, cultural and religious | 0.9 | 0.8 | 0.8 | 0.8 | 0.6 | 0.9 | |
| Economic affairs and services | 5.4 | 5.5 | 4.0 | 3.6 | 4.1 | 3.9 | |
| Fuel and energy | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | |
| Agriculture, forestry, fishing, and hunting | 2.5 | 2.4 | 2.1 | 2.0 | 2.0 | 1.9 | |
| Mining and mineral resources | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | |
| Transportation and communications | 1.7 | 1.9 | 0.5 | 0.3 | 0.3 | 0.5 | |
| Other | 0.9 | 0.8 | 1.0 | 1.1 | 1.5 | 1.3 | |
| Expenditure not classified by function 3/ | 2.3 | 2.3 | 2.2 | 2.4 | 2.6 | 2.7 | |
| Statistical discrepancy | 0.6 | 0.0 | 0.6 | -0.8 | -0.4 | 0.3 | |
| Total excluding lending | 35.5 | 35.7 | 34.2 | 34.2 | 34.5 | 36.2 | |
| Total expenditure and net lending | 35.7 | 36.2 | 34.7 | 35.8 | 36.5 | 37.3 | |
| Memorandum item: | |||||||
| GDP at current market prices | 19,249 | 21,395 | 24,689 | 28,652 | 31,740 | 33,062 | |
Fiscal year begins April 1.
Actual data on functional spending for 2003/04 are not yet available.
Includes public debt transactions.
Namibia: Outstanding Debt of Central Government, 1998/99-2003/04 1/
(In millions of Namibia dollars, unless otherwise indicated)
Fiscal year begins April 1. Unless otherwise indicated, data correspond to debt stocks at the end of each fiscal year.
Data for 1998/99 relate to September, not March, 1999.
Namibia: Outstanding Debt of Central Government, 1998/99-2003/04 1/
(In millions of Namibia dollars, unless otherwise indicated)
| 1998/99 | 1999/00 | 2000/01 | 2001/02 | 2002/03 | 2003/04 | |||
|---|---|---|---|---|---|---|---|---|
| Domestic debt | 3,754 | 4,457 | 4,731 | 5,947 | 6,712 | 8,606 | ||
| Treasury bills | 1,840 | 2,483 | 2,495 | 3,211 | 3,618 | 5,041 | ||
| 91 days | 1,240 | 1,345 | 1,175 | 1,449 | 1,004 | 300 | ||
| 182 days | 600 | 888 | 820 | 1,190 | 1,236 | 2,190 | ||
| 365 days | 0 | 250 | 500 | 572 | 1,378 | 2,551 | ||
| Internal registered stock (IRS) | 1,914 | 1,974 | 2,236 | 2,736 | 3,094 | 3,565 | ||
| <= 2 years term-to-maturity | 110 | 802 | 912 | 669 | 1,164 | 1,069 | ||
| 3 - 5 years term-to-maturity | 632 | 503 | 618 | 985 | 442 | 655 | ||
| 6 - 10 years term-to-maturity | 503 | 669 | 706 | 1,082 | 1,213 | 1,263 | ||
| >= 11 years term-to-maturity | 669 | 0 | 0 | 0 | 275 | 579 | ||
| External debt 2/ | 562 | 752 | 970 | 1,561 | 1,212 | 1,607 | ||
| African Development Bank | 87 | 97 | 118 | 169 | 156 | 225 | ||
| Kreditanstalt für Wiederaufbau (Germany) | 251 | 389 | 462 | 669 | 489 | 599 | ||
| European Investment Bank | 101 | 109 | 155 | 376 | 155 | 254 | ||
| Nordic Development Fund | 12 | 12 | 12 | 21 | 16 | 14 | ||
| International Fund for Agricultural Development | 22 | 23 | 23 | 40 | 28 | 24 | ||
| People’s Republic of China | 71 | 98 | 139 | 185 | 135 | 226 | ||
| Caisse Francaise de Developpement | 17 | 23 | 25 | 35 | 29 | 23 | ||
| Development Bank of Southern Africa | 0 | 0 | 32 | 57 | 110 | 150 | ||
| Arab Bank for Economic Development in Africa | 0 | 0 | 5 | 7 | 5 | 15 | ||
| Kuwait Fund for Arab Economic Development | 0 | 0 | 0 | 1 | 0 | 0 | ||
| EKSPORT FINANS ASA | 0 | 0 | 0 | 0 | 56 | 48 | ||
| Instituto de Credito Oficial | 0 | 0 | 0 | 0 | 34 | 30 | ||
| Total government debt | 4,315 | 5,208 | 5,701 | 7,507 | 7,924 | 10,213 | ||
| Government-guaranteed debt | 835 | 1,883 | 2,718 | 3,808 | 3,258 | 3,422 | ||
| Government and government-guaranteed debt | 5,150 | 7,091 | 8,419 | 11,315 | 11,183 | 13,635 | ||
| (In percent of GDP) | ||||||||
| Government and government-guaranteed debt | 26.8 | 33.1 | 34.1 | 39.5 | 35.2 | 41.2 | ||
| Government debt | 22.4 | 24.3 | 23.1 | 26.2 | 25.0 | 30.9 | ||
| Domestic | 19.5 | 20.8 | 19.2 | 20.8 | 21.1 | 26.0 | ||
| External 2/ | 2.9 | 3.5 | 3.9 | 5.4 | 3.8 | 4.9 | ||
| Government-guaranteed debt | 4.3 | 8.8 | 11.0 | 13.3 | 10.3 | 10.4 | ||
| Memorandum item: | ||||||||
| GDP at current market prices | 19,249 | 21,395 | 24,689 | 28,652 | 31,740 | 33,062 | ||
Fiscal year begins April 1. Unless otherwise indicated, data correspond to debt stocks at the end of each fiscal year.
Data for 1998/99 relate to September, not March, 1999.
Namibia: Outstanding Debt of Central Government, 1998/99-2003/04 1/
(In millions of Namibia dollars, unless otherwise indicated)
| 1998/99 | 1999/00 | 2000/01 | 2001/02 | 2002/03 | 2003/04 | |||
|---|---|---|---|---|---|---|---|---|
| Domestic debt | 3,754 | 4,457 | 4,731 | 5,947 | 6,712 | 8,606 | ||
| Treasury bills | 1,840 | 2,483 | 2,495 | 3,211 | 3,618 | 5,041 | ||
| 91 days | 1,240 | 1,345 | 1,175 | 1,449 | 1,004 | 300 | ||
| 182 days | 600 | 888 | 820 | 1,190 | 1,236 | 2,190 | ||
| 365 days | 0 | 250 | 500 | 572 | 1,378 | 2,551 | ||
| Internal registered stock (IRS) | 1,914 | 1,974 | 2,236 | 2,736 | 3,094 | 3,565 | ||
| <= 2 years term-to-maturity | 110 | 802 | 912 | 669 | 1,164 | 1,069 | ||
| 3 - 5 years term-to-maturity | 632 | 503 | 618 | 985 | 442 | 655 | ||
| 6 - 10 years term-to-maturity | 503 | 669 | 706 | 1,082 | 1,213 | 1,263 | ||
| >= 11 years term-to-maturity | 669 | 0 | 0 | 0 | 275 | 579 | ||
| External debt 2/ | 562 | 752 | 970 | 1,561 | 1,212 | 1,607 | ||
| African Development Bank | 87 | 97 | 118 | 169 | 156 | 225 | ||
| Kreditanstalt für Wiederaufbau (Germany) | 251 | 389 | 462 | 669 | 489 | 599 | ||
| European Investment Bank | 101 | 109 | 155 | 376 | 155 | 254 | ||
| Nordic Development Fund | 12 | 12 | 12 | 21 | 16 | 14 | ||
| International Fund for Agricultural Development | 22 | 23 | 23 | 40 | 28 | 24 | ||
| People’s Republic of China | 71 | 98 | 139 | 185 | 135 | 226 | ||
| Caisse Francaise de Developpement | 17 | 23 | 25 | 35 | 29 | 23 | ||
| Development Bank of Southern Africa | 0 | 0 | 32 | 57 | 110 | 150 | ||
| Arab Bank for Economic Development in Africa | 0 | 0 | 5 | 7 | 5 | 15 | ||
| Kuwait Fund for Arab Economic Development | 0 | 0 | 0 | 1 | 0 | 0 | ||
| EKSPORT FINANS ASA | 0 | 0 | 0 | 0 | 56 | 48 | ||
| Instituto de Credito Oficial | 0 | 0 | 0 | 0 | 34 | 30 | ||
| Total government debt | 4,315 | 5,208 | 5,701 | 7,507 | 7,924 | 10,213 | ||
| Government-guaranteed debt | 835 | 1,883 | 2,718 | 3,808 | 3,258 | 3,422 | ||
| Government and government-guaranteed debt | 5,150 | 7,091 | 8,419 | 11,315 | 11,183 | 13,635 | ||
| (In percent of GDP) | ||||||||
| Government and government-guaranteed debt | 26.8 | 33.1 | 34.1 | 39.5 | 35.2 | 41.2 | ||
| Government debt | 22.4 | 24.3 | 23.1 | 26.2 | 25.0 | 30.9 | ||
| Domestic | 19.5 | 20.8 | 19.2 | 20.8 | 21.1 | 26.0 | ||
| External 2/ | 2.9 | 3.5 | 3.9 | 5.4 | 3.8 | 4.9 | ||
| Government-guaranteed debt | 4.3 | 8.8 | 11.0 | 13.3 | 10.3 | 10.4 | ||
| Memorandum item: | ||||||||
| GDP at current market prices | 19,249 | 21,395 | 24,689 | 28,652 | 31,740 | 33,062 | ||
Fiscal year begins April 1. Unless otherwise indicated, data correspond to debt stocks at the end of each fiscal year.
Data for 1998/99 relate to September, not March, 1999.
Namibia: Monetary Survey, 1998–2003
Following Fund advice, the authorities recently revised the monetary statistics, involving several reclassification in the central and commercial bank balance sheets. As a result, no growth rates are shown for 2002.
Deposit money bank and other banking institution holdings of South African rand.
Includes liabilities: shares and equity, securities, loans, trade credit and advances.
Namibia: Monetary Survey, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Dec. | Dec. | Dec. | Dec. | Dec. 1/ | Dec. 1/ | |||||
| (In millions of Namibia dollars) | ||||||||||
| Net foreign assets | 1378.7 | 2297.7 | 2740.0 | 2551.5 | 2,083.8 | 1,259.6 | ||||
| Bank of Namibia | 1,488.8 | 1,828.9 | 1,920.8 | 2,632.3 | 2,886.1 | 2,110.3 | ||||
| Deposit money banks | -132.5 | 459.4 | 772.2 | -93.2 | -802.3 | -850.7 | ||||
| Other 2/ | 22.4 | 9.4 | 47.0 | 12.5 | … | … | ||||
| Net domestic assets | 5,781.8 | 6,178.5 | 6,834.7 | 7,452.1 | 10,349.9 | 12,336.2 | ||||
| Domestic credit | 7,418.2 | 8,057.5 | 9,268.2 | 10,575.6 | 14,932.7 | 17,346.6 | ||||
| Net claims on central government | 112.3 | 459.0 | 275.3 | 285.1 | -150.9 | 506.7 | ||||
| Claims on other sectors | 7,305.9 | 7,598.6 | 8,992.8 | 10,290.5 | 15,083.6 | 16,839.9 | ||||
| State and local government | 18.8 | 16.3 | 12.4 | 32.8 | 10.3 | 19.3 | ||||
| Public nonfinancial corporations | 142.7 | 136.6 | 234.0 | 119.1 | 225.0 | 144.3 | ||||
| Other financial corporations | 15.1 | 11.4 | 46.6 | 23.1 | 14.0 | 0.0 | ||||
| Private sector | 7,129.3 | 7,434.2 | 8,699.8 | 10,115.5 | 14,834.3 | 16,676.3 | ||||
| Other nonfinancial corporations (businesses) | … | … | … | … | 5,061.5 | 6,527.0 | ||||
| Other resident sectors (individuals) | … | … | … | … | 9,772.7 | 10,149.3 | ||||
| Other items, net 3/ | -1,636.4 | -1,879.0 | -2,433.5 | -3,123.4 | -4,582.8 | -5,010.4 | ||||
| Broad money | 7,160.5 | 8,476.2 | 9,574.7 | 10,003.7 | 12,433.7 | 13,626.7 | ||||
| Currency | 364.9 | 422.7 | 481.2 | 507.5 | 543.7 | 584.6 | ||||
| Deposits | 6,795.6 | 8,053.5 | 9,093.5 | 9,496.2 | 11,890.0 | 13,042.1 | ||||
| (In percent change) | ||||||||||
| Net foreign assets | 51.5 | 66.7 | 19.2 | -6.9 | … | -39.6 | ||||
| Domestic credit | 3.4 | 6.9 | 10.6 | 9.0 | … | 19.2 | ||||
| Net claims on central government | 8.9 | 8.6 | 15.0 | 14.1 | … | 16.2 | ||||
| Claims on the private sector | 8.8 | 4.3 | 17.0 | 16.3 | … | 12.4 | ||||
| Claims on the domestic economy | 8.3 | 4.0 | 18.3 | 14.4 | … | 14.1 | ||||
| Broad money | 10.1 | 18.4 | 13.0 | 4.5 | … | 9.6 | ||||
Following Fund advice, the authorities recently revised the monetary statistics, involving several reclassification in the central and commercial bank balance sheets. As a result, no growth rates are shown for 2002.
Deposit money bank and other banking institution holdings of South African rand.
Includes liabilities: shares and equity, securities, loans, trade credit and advances.
Namibia: Monetary Survey, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Dec. | Dec. | Dec. | Dec. | Dec. 1/ | Dec. 1/ | |||||
| (In millions of Namibia dollars) | ||||||||||
| Net foreign assets | 1378.7 | 2297.7 | 2740.0 | 2551.5 | 2,083.8 | 1,259.6 | ||||
| Bank of Namibia | 1,488.8 | 1,828.9 | 1,920.8 | 2,632.3 | 2,886.1 | 2,110.3 | ||||
| Deposit money banks | -132.5 | 459.4 | 772.2 | -93.2 | -802.3 | -850.7 | ||||
| Other 2/ | 22.4 | 9.4 | 47.0 | 12.5 | … | … | ||||
| Net domestic assets | 5,781.8 | 6,178.5 | 6,834.7 | 7,452.1 | 10,349.9 | 12,336.2 | ||||
| Domestic credit | 7,418.2 | 8,057.5 | 9,268.2 | 10,575.6 | 14,932.7 | 17,346.6 | ||||
| Net claims on central government | 112.3 | 459.0 | 275.3 | 285.1 | -150.9 | 506.7 | ||||
| Claims on other sectors | 7,305.9 | 7,598.6 | 8,992.8 | 10,290.5 | 15,083.6 | 16,839.9 | ||||
| State and local government | 18.8 | 16.3 | 12.4 | 32.8 | 10.3 | 19.3 | ||||
| Public nonfinancial corporations | 142.7 | 136.6 | 234.0 | 119.1 | 225.0 | 144.3 | ||||
| Other financial corporations | 15.1 | 11.4 | 46.6 | 23.1 | 14.0 | 0.0 | ||||
| Private sector | 7,129.3 | 7,434.2 | 8,699.8 | 10,115.5 | 14,834.3 | 16,676.3 | ||||
| Other nonfinancial corporations (businesses) | … | … | … | … | 5,061.5 | 6,527.0 | ||||
| Other resident sectors (individuals) | … | … | … | … | 9,772.7 | 10,149.3 | ||||
| Other items, net 3/ | -1,636.4 | -1,879.0 | -2,433.5 | -3,123.4 | -4,582.8 | -5,010.4 | ||||
| Broad money | 7,160.5 | 8,476.2 | 9,574.7 | 10,003.7 | 12,433.7 | 13,626.7 | ||||
| Currency | 364.9 | 422.7 | 481.2 | 507.5 | 543.7 | 584.6 | ||||
| Deposits | 6,795.6 | 8,053.5 | 9,093.5 | 9,496.2 | 11,890.0 | 13,042.1 | ||||
| (In percent change) | ||||||||||
| Net foreign assets | 51.5 | 66.7 | 19.2 | -6.9 | … | -39.6 | ||||
| Domestic credit | 3.4 | 6.9 | 10.6 | 9.0 | … | 19.2 | ||||
| Net claims on central government | 8.9 | 8.6 | 15.0 | 14.1 | … | 16.2 | ||||
| Claims on the private sector | 8.8 | 4.3 | 17.0 | 16.3 | … | 12.4 | ||||
| Claims on the domestic economy | 8.3 | 4.0 | 18.3 | 14.4 | … | 14.1 | ||||
| Broad money | 10.1 | 18.4 | 13.0 | 4.5 | … | 9.6 | ||||
Following Fund advice, the authorities recently revised the monetary statistics, involving several reclassification in the central and commercial bank balance sheets. As a result, no growth rates are shown for 2002.
Deposit money bank and other banking institution holdings of South African rand.
Includes liabilities: shares and equity, securities, loans, trade credit and advances.
Namibia: Summary Accounts of the Bank of Namibia, 1998–2003
(In millions of Namibia dollars)
Following Fund advice, the authorities recently revised the monetary statistics, involving several reclassification in the central and commercial bank balance sheets.
Other banking institutions in old terminology
Capital and reserves in old terminology
Includes securities, loans and trade credit and advances
Namibia: Summary Accounts of the Bank of Namibia, 1998–2003
(In millions of Namibia dollars)
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Dec. | Dec. | Dec. | Dec. | Dec. 1/ | Dec. 1/ | |||||
| Net foreign assets | 1,488.8 | 1,828.9 | 1,920.8 | 2,632.3 | 2,886.1 | 2,110.3 | ||||
| Assets | 1,527.7 | 1,876.3 | 1,984.9 | 2,703.5 | 2,893.3 | 2,117.2 | ||||
| Liabilities | 38.8 | 47.4 | 64.2 | 71.2 | 7.2 | 6.9 | ||||
| Net Domestic assets | -879.8 | -931.5 | -1,118.2 | -1,725.0 | -1,905.2 | -937.5 | ||||
| Net claims on central government | -416.1 | -471.8 | -446.3 | -360.5 | -1,114.8 | -430.1 | ||||
| Claims on central government | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Liabilities to central government | 416.1 | 471.8 | 446.3 | 360.5 | 1,114.8 | 430.1 | ||||
| Claims on other depository corporations | 0.0 | 0.0 | 0.0 | 0.0 | 117.5 | 95.3 | ||||
| Claims on other sectors | 0.5 | 0.7 | 0.7 | 1.1 | 16.6 | 19.0 | ||||
| State and local government | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Public nonfinancial corporations | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Other financial corporations 2/ | 0.5 | 0.7 | 0.7 | 1.1 | 0.0 | 0.0 | ||||
| Private sector | 0.0 | 0.0 | 0.0 | 0.0 | 16.6 | 19.0 | ||||
| Other nonfinancial corporations | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Other resident sectors | 0.0 | 0.0 | 0.0 | 0.0 | 16.6 | 19.0 | ||||
| Shares and other equity 3/ | -513.4 | -562.9 | -783.9 | -1,587.9 | -1,103.8 | -743.4 | ||||
| Other items, net 4/ | 49.3 | 102.5 | 111.3 | 222.2 | 179.3 | 121.7 | ||||
| Reserve money | 609.1 | 897.4 | 802.6 | 907.3 | 980.8 | 1,172.9 | ||||
| Currency issued | 522.6 | 696.1 | 660.4 | 787.3 | 819.2 | 918.9 | ||||
| Deposits of DMBs | 86.5 | 201.3 | 142.1 | 120.0 | 161.6 | 254.0 | ||||
| Reserve accounts | 86.5 | 201.3 | 142.1 | 120.0 | 154.0 | 168.3 | ||||
| Other liabilities | 0.0 | 0.0 | 0.0 | 0.0 | 7.6 | 85.7 | ||||
Following Fund advice, the authorities recently revised the monetary statistics, involving several reclassification in the central and commercial bank balance sheets.
Other banking institutions in old terminology
Capital and reserves in old terminology
Includes securities, loans and trade credit and advances
Namibia: Summary Accounts of the Bank of Namibia, 1998–2003
(In millions of Namibia dollars)
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Dec. | Dec. | Dec. | Dec. | Dec. 1/ | Dec. 1/ | |||||
| Net foreign assets | 1,488.8 | 1,828.9 | 1,920.8 | 2,632.3 | 2,886.1 | 2,110.3 | ||||
| Assets | 1,527.7 | 1,876.3 | 1,984.9 | 2,703.5 | 2,893.3 | 2,117.2 | ||||
| Liabilities | 38.8 | 47.4 | 64.2 | 71.2 | 7.2 | 6.9 | ||||
| Net Domestic assets | -879.8 | -931.5 | -1,118.2 | -1,725.0 | -1,905.2 | -937.5 | ||||
| Net claims on central government | -416.1 | -471.8 | -446.3 | -360.5 | -1,114.8 | -430.1 | ||||
| Claims on central government | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Liabilities to central government | 416.1 | 471.8 | 446.3 | 360.5 | 1,114.8 | 430.1 | ||||
| Claims on other depository corporations | 0.0 | 0.0 | 0.0 | 0.0 | 117.5 | 95.3 | ||||
| Claims on other sectors | 0.5 | 0.7 | 0.7 | 1.1 | 16.6 | 19.0 | ||||
| State and local government | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Public nonfinancial corporations | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Other financial corporations 2/ | 0.5 | 0.7 | 0.7 | 1.1 | 0.0 | 0.0 | ||||
| Private sector | 0.0 | 0.0 | 0.0 | 0.0 | 16.6 | 19.0 | ||||
| Other nonfinancial corporations | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Other resident sectors | 0.0 | 0.0 | 0.0 | 0.0 | 16.6 | 19.0 | ||||
| Shares and other equity 3/ | -513.4 | -562.9 | -783.9 | -1,587.9 | -1,103.8 | -743.4 | ||||
| Other items, net 4/ | 49.3 | 102.5 | 111.3 | 222.2 | 179.3 | 121.7 | ||||
| Reserve money | 609.1 | 897.4 | 802.6 | 907.3 | 980.8 | 1,172.9 | ||||
| Currency issued | 522.6 | 696.1 | 660.4 | 787.3 | 819.2 | 918.9 | ||||
| Deposits of DMBs | 86.5 | 201.3 | 142.1 | 120.0 | 161.6 | 254.0 | ||||
| Reserve accounts | 86.5 | 201.3 | 142.1 | 120.0 | 154.0 | 168.3 | ||||
| Other liabilities | 0.0 | 0.0 | 0.0 | 0.0 | 7.6 | 85.7 | ||||
Following Fund advice, the authorities recently revised the monetary statistics, involving several reclassification in the central and commercial bank balance sheets.
Other banking institutions in old terminology
Capital and reserves in old terminology
Includes securities, loans and trade credit and advances
Namibia: Interest Rates, 1998–2003
(Annual averages in percent)
South African Reserve Bank’s repo rate.
Average tender rate for 91-day bills.
Money market rates in Namibia before 1996 are the same as South African rates.
For South Africa, rates are upper margin of interest on time deposits of 88-91 days. For Namibia, rates are weighted averages of demand deposits, 88-day notice deposits, savings deposits, and deposits with a maturity of more than one year of two largest commercial banks.
For South Africa, prime overdraft rate of major banks. For Namibia, weighted average of different lending instruments.
Headline inflation for South Africa; Windhoek consumer price index for Namibia.
Deflated by consumer price indices.
Namibia: Interest Rates, 1998–2003
(Annual averages in percent)
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | ||||
|---|---|---|---|---|---|---|---|---|---|
| Short-term interest rates | |||||||||
| Bank rate (end of period) | |||||||||
| In South Africa 1/ | 19.00 | 12.00 | 12.00 | 12.00 | 13.50 | 8.00 | |||
| In Namibia | 18.80 | 11.50 | 11.25 | 9.25 | 12.75 | 7.75 | |||
| Treasury bill discount rate 2/ | 17.30 | 13.30 | 9.65 | 9.13 | 11.37 | 10.00 | |||
| Deposit money bank overdraft rate | 14.80 | 13.70 | 11.25 | 6.48 | 11.50 | 15.70 | |||
| Money market rate | |||||||||
| In South Africa | 17.10 | 14.00 | 9.50 | 8.00 | 11.11 | 10.93 | |||
| In Namibia 3/ | 17.10 | 13.20 | 9.24 | 12.13 | 10.46 | 10.03 | |||
| Treasury bill rate 2/ | |||||||||
| In South Africa | 16.50 | 13.60 | 10.11 | 9.20 | 11.16 | 10.72 | |||
| In Namibia | 17.30 | 13.30 | 9.62 | 9.30 | 11.05 | 10.51 | |||
| Commercial bank deposit rate 4/ | |||||||||
| In South Africa | 16.50 | 13.00 | 9.70 | 8.99 | 11.33 | 10.72 | |||
| In Namibia | 12.90 | 10.80 | 7.63 | 6.48 | 7.81 | 8.74 | |||
| Commercial bank lending rate 5/ | |||||||||
| In South Africa | 21.80 | 18.00 | 14.50 | 13.77 | 15.58 | 15.42 | |||
| In Namibia | 20.70 | 18.50 | 15.28 | 13.76 | 13.84 | 14.67 | |||
| Long-term interest rate | |||||||||
| Government bond yield in South Africa | 15.10 | 14.90 | 12.80 | 11.63 | 11.50 | 9.62 | |||
| Government (five-year) bond yield in Namibia | 15.10 | 14.90 | 13.81 | 11.39 | 12.86 | 12.72 | |||
| Memorandum items | |||||||||
| Inflation | |||||||||
| In South Africa 6/ | 6.89 | 5.20 | 5.10 | 5.70 | 9.16 | 5.86 | |||
| In Namibia 6/ | 6.20 | 8.60 | 9.25 | 9.27 | 11.34 | 7.19 | |||
| Real interest rates 7/ | |||||||||
| Commercial bank deposits | |||||||||
| In South Africa | 8.99 | 7.99 | 4.77 | 3.31 | 1.83 | 4.59 | |||
| In Namibia | 10.45 | 4.33 | 0.34 | 0.03 | -0.26 | 3.10 | |||
| Commercial bank lending | |||||||||
| In South Africa | 13.95 | 12.17 | 8.94 | 7.63 | 5.88 | 9.03 | |||
| In Namibia | 13.65 | 9.12 | 5.52 | 4.11 | 2.24 | 6.98 | |||
| Government bond yield in South Africa | 7.7 | 9.2 | 7.3 | 5.6 | 2.1 | 3.5 | |||
| Government bond yield in Namibia | 8.4 | 5.8 | 4.2 | 1.9 | 1.4 | 5.2 | |||
South African Reserve Bank’s repo rate.
Average tender rate for 91-day bills.
Money market rates in Namibia before 1996 are the same as South African rates.
For South Africa, rates are upper margin of interest on time deposits of 88-91 days. For Namibia, rates are weighted averages of demand deposits, 88-day notice deposits, savings deposits, and deposits with a maturity of more than one year of two largest commercial banks.
For South Africa, prime overdraft rate of major banks. For Namibia, weighted average of different lending instruments.
Headline inflation for South Africa; Windhoek consumer price index for Namibia.
Deflated by consumer price indices.
Namibia: Interest Rates, 1998–2003
(Annual averages in percent)
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | ||||
|---|---|---|---|---|---|---|---|---|---|
| Short-term interest rates | |||||||||
| Bank rate (end of period) | |||||||||
| In South Africa 1/ | 19.00 | 12.00 | 12.00 | 12.00 | 13.50 | 8.00 | |||
| In Namibia | 18.80 | 11.50 | 11.25 | 9.25 | 12.75 | 7.75 | |||
| Treasury bill discount rate 2/ | 17.30 | 13.30 | 9.65 | 9.13 | 11.37 | 10.00 | |||
| Deposit money bank overdraft rate | 14.80 | 13.70 | 11.25 | 6.48 | 11.50 | 15.70 | |||
| Money market rate | |||||||||
| In South Africa | 17.10 | 14.00 | 9.50 | 8.00 | 11.11 | 10.93 | |||
| In Namibia 3/ | 17.10 | 13.20 | 9.24 | 12.13 | 10.46 | 10.03 | |||
| Treasury bill rate 2/ | |||||||||
| In South Africa | 16.50 | 13.60 | 10.11 | 9.20 | 11.16 | 10.72 | |||
| In Namibia | 17.30 | 13.30 | 9.62 | 9.30 | 11.05 | 10.51 | |||
| Commercial bank deposit rate 4/ | |||||||||
| In South Africa | 16.50 | 13.00 | 9.70 | 8.99 | 11.33 | 10.72 | |||
| In Namibia | 12.90 | 10.80 | 7.63 | 6.48 | 7.81 | 8.74 | |||
| Commercial bank lending rate 5/ | |||||||||
| In South Africa | 21.80 | 18.00 | 14.50 | 13.77 | 15.58 | 15.42 | |||
| In Namibia | 20.70 | 18.50 | 15.28 | 13.76 | 13.84 | 14.67 | |||
| Long-term interest rate | |||||||||
| Government bond yield in South Africa | 15.10 | 14.90 | 12.80 | 11.63 | 11.50 | 9.62 | |||
| Government (five-year) bond yield in Namibia | 15.10 | 14.90 | 13.81 | 11.39 | 12.86 | 12.72 | |||
| Memorandum items | |||||||||
| Inflation | |||||||||
| In South Africa 6/ | 6.89 | 5.20 | 5.10 | 5.70 | 9.16 | 5.86 | |||
| In Namibia 6/ | 6.20 | 8.60 | 9.25 | 9.27 | 11.34 | 7.19 | |||
| Real interest rates 7/ | |||||||||
| Commercial bank deposits | |||||||||
| In South Africa | 8.99 | 7.99 | 4.77 | 3.31 | 1.83 | 4.59 | |||
| In Namibia | 10.45 | 4.33 | 0.34 | 0.03 | -0.26 | 3.10 | |||
| Commercial bank lending | |||||||||
| In South Africa | 13.95 | 12.17 | 8.94 | 7.63 | 5.88 | 9.03 | |||
| In Namibia | 13.65 | 9.12 | 5.52 | 4.11 | 2.24 | 6.98 | |||
| Government bond yield in South Africa | 7.7 | 9.2 | 7.3 | 5.6 | 2.1 | 3.5 | |||
| Government bond yield in Namibia | 8.4 | 5.8 | 4.2 | 1.9 | 1.4 | 5.2 | |||
South African Reserve Bank’s repo rate.
Average tender rate for 91-day bills.
Money market rates in Namibia before 1996 are the same as South African rates.
For South Africa, rates are upper margin of interest on time deposits of 88-91 days. For Namibia, rates are weighted averages of demand deposits, 88-day notice deposits, savings deposits, and deposits with a maturity of more than one year of two largest commercial banks.
For South Africa, prime overdraft rate of major banks. For Namibia, weighted average of different lending instruments.
Headline inflation for South Africa; Windhoek consumer price index for Namibia.
Deflated by consumer price indices.
Namibia: Financial Soundness Indicators, 1998–2003
(In percent, unless otherwise indicated)
Namibia: Financial Soundness Indicators, 1998–2003
(In percent, unless otherwise indicated)
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Banking indicators | ||||||||||
| Capital adequacy | ||||||||||
| Capital to assets | … | … | … | 8.7 | 7.5 | 8.3 | ||||
| Regulatory capital to risk-weighted assets | 13.2 | 14.9 | 14.8 | 15.5 | 14.1 | 14.8 | ||||
| Regulatory tier I capital to risk-weighted assets | 11.4 | 13.1 | 13.2 | 12.4 | 11.0 | 12.2 | ||||
| Nonperforming loans net of provisions to capital | 69.7 | 53.8 | 14.3 | 8.3 | 11.1 | 11.8 | ||||
| Asset quality | ||||||||||
| Large exposure to capital | … | … | … | 146.0 | 179.0 | 186.0 | ||||
| Nonperforming loans to total gross loans | 11.3 | 9.7 | 4.7 | 4.0 | 3.9 | 3.9 | ||||
| Sectoral distribution of loans to total loans | ||||||||||
| Agriculture | 10.9 | 10.8 | 8.7 | 9.0 | 8.6 | 5.5 | ||||
| Mining | 1.2 | 1.0 | 0.7 | 0.7 | 1.5 | 2.6 | ||||
| Manufacturing | 4.0 | 2.7 | 5.3 | 5.4 | 5.4 | 3.8 | ||||
| Construction | 4.1 | 4.3 | 3.8 | 3.9 | 4.5 | 4.1 | ||||
| Electricity and water | 0.2 | 0.7 | 0.3 | 0.3 | 4.4 | 3.4 | ||||
| Trade and accommodation | 9.6 | 6.6 | 4.9 | 4.8 | 5.2 | 2.6 | ||||
| Transport and communications | 3.8 | 3.1 | 3.9 | 3.7 | 3.6 | 4.6 | ||||
| Finance, real estate, and business services | 10.3 | 14.7 | 15.1 | 15.5 | 11.1 | 9.6 | ||||
| Other services (including government) | 8.4 | 9.5 | 11.4 | 11.6 | 7.0 | 8.6 | ||||
| Individuals | 43.0 | 44.2 | 44.1 | 44.1 | 47.1 | 47.1 | ||||
| Other | 4.6 | 2.3 | 2.0 | 1.1 | 1.8 | 8.3 | ||||
| Earnings and profitability | ||||||||||
| Trading income to total income | … | … | … | 10.6 | 11.5 | 10.9 | ||||
| Return on assets | 2.1 | 2.5 | 2.6 | 2.5 | 2.8 | 2.5 | ||||
| Return on equity | 23.0 | 25.8 | 28.1 | 26.4 | 34.3 | 21.9 | ||||
| Interest income to gross income | 168.0 | 152.2 | 119.8 | 116.4 | 123.9 | 137.0 | ||||
| Noninterest expenses to gross income | 44.6 | 47.7 | 47.9 | 50.6 | 49.1 | 53.9 | ||||
| Spread between reference lending and deposit rates | … | … | … | 7.3 | 6.2 | 6.0 | ||||
| Personal expenses to noninterest expenses | … | … | … | 51.2 | 48.9 | 46.0 | ||||
| Liquidity | ||||||||||
| Spread between highest and lowest interbank rate | … | … | … | … | 9.3 | 9.0 | ||||
| Liquid assets to total assets | 10.5 | 12.5 | 9.7 | 9.6 | 9.2 | 11.0 | ||||
| Liquid assets to short-term liabilities | 18.4 | 22.5 | 15.8 | 15.6 | 15.7 | 19.3 | ||||
| Customer deposits to total (non-interbank) loans | … | … | … | 88.0 | 84.0 | 87.0 | ||||
| Exposure to foreign exchange risk | ||||||||||
| Net open position in foreign exchange to capital | 0.8 | 0.6 | 0.5 | 0.2 | 0.1 | 0.0 | ||||
| Foreign currency-denominated loans to total loans | … | … | … | 6.0 | 5.0 | 3.0 | ||||
| Foreign currency-denominated liabilities to total liabilities | … | … | … | 5.1 | 5.2 | 4.5 | ||||
| Financial system structure | ||||||||||
| Number | ||||||||||
| Banks | … | … | … | 5 | 5 | 4 | ||||
| Private commercial | … | … | … | 2 | 2 | 1 | ||||
| State-owned | … | … | … | 0 | 0 | 0 | ||||
| Foreign-owned subsidiaries | … | … | … | 3 | 3 | 3 | ||||
| Branches of foreign banks | … | … | … | 0 | 0 | 0 | ||||
| Assets (in billions of Namibia dollars) | ||||||||||
| Banks | … | … | … | 1.3 | 17.8 | 20.0 | ||||
| Private commercial | … | … | … | 3.7 | 5.7 | 4.3 | ||||
| State-owned | … | … | … | … | … | … | ||||
| Foreign-owned subsidiaries | … | … | … | 10.0 | 12.1 | 15.8 | ||||
| Branches of foreign banks | … | … | … | … | … | … | ||||
| Deposits (in billions of Namibia dollars) | ||||||||||
| Banks | … | … | … | 9.9 | 12.7 | 14.3 | ||||
| Private commercial | … | … | … | 3.0 | 4.7 | 3.5 | ||||
| State-owned | … | … | … | … | … | … | ||||
| Foreign-owned subsidiaries | … | … | … | 6.9 | 7.9 | 10.7 | ||||
| Branches of foreign banks | … | … | … | … | … | … | ||||
Namibia: Financial Soundness Indicators, 1998–2003
(In percent, unless otherwise indicated)
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Banking indicators | ||||||||||
| Capital adequacy | ||||||||||
| Capital to assets | … | … | … | 8.7 | 7.5 | 8.3 | ||||
| Regulatory capital to risk-weighted assets | 13.2 | 14.9 | 14.8 | 15.5 | 14.1 | 14.8 | ||||
| Regulatory tier I capital to risk-weighted assets | 11.4 | 13.1 | 13.2 | 12.4 | 11.0 | 12.2 | ||||
| Nonperforming loans net of provisions to capital | 69.7 | 53.8 | 14.3 | 8.3 | 11.1 | 11.8 | ||||
| Asset quality | ||||||||||
| Large exposure to capital | … | … | … | 146.0 | 179.0 | 186.0 | ||||
| Nonperforming loans to total gross loans | 11.3 | 9.7 | 4.7 | 4.0 | 3.9 | 3.9 | ||||
| Sectoral distribution of loans to total loans | ||||||||||
| Agriculture | 10.9 | 10.8 | 8.7 | 9.0 | 8.6 | 5.5 | ||||
| Mining | 1.2 | 1.0 | 0.7 | 0.7 | 1.5 | 2.6 | ||||
| Manufacturing | 4.0 | 2.7 | 5.3 | 5.4 | 5.4 | 3.8 | ||||
| Construction | 4.1 | 4.3 | 3.8 | 3.9 | 4.5 | 4.1 | ||||
| Electricity and water | 0.2 | 0.7 | 0.3 | 0.3 | 4.4 | 3.4 | ||||
| Trade and accommodation | 9.6 | 6.6 | 4.9 | 4.8 | 5.2 | 2.6 | ||||
| Transport and communications | 3.8 | 3.1 | 3.9 | 3.7 | 3.6 | 4.6 | ||||
| Finance, real estate, and business services | 10.3 | 14.7 | 15.1 | 15.5 | 11.1 | 9.6 | ||||
| Other services (including government) | 8.4 | 9.5 | 11.4 | 11.6 | 7.0 | 8.6 | ||||
| Individuals | 43.0 | 44.2 | 44.1 | 44.1 | 47.1 | 47.1 | ||||
| Other | 4.6 | 2.3 | 2.0 | 1.1 | 1.8 | 8.3 | ||||
| Earnings and profitability | ||||||||||
| Trading income to total income | … | … | … | 10.6 | 11.5 | 10.9 | ||||
| Return on assets | 2.1 | 2.5 | 2.6 | 2.5 | 2.8 | 2.5 | ||||
| Return on equity | 23.0 | 25.8 | 28.1 | 26.4 | 34.3 | 21.9 | ||||
| Interest income to gross income | 168.0 | 152.2 | 119.8 | 116.4 | 123.9 | 137.0 | ||||
| Noninterest expenses to gross income | 44.6 | 47.7 | 47.9 | 50.6 | 49.1 | 53.9 | ||||
| Spread between reference lending and deposit rates | … | … | … | 7.3 | 6.2 | 6.0 | ||||
| Personal expenses to noninterest expenses | … | … | … | 51.2 | 48.9 | 46.0 | ||||
| Liquidity | ||||||||||
| Spread between highest and lowest interbank rate | … | … | … | … | 9.3 | 9.0 | ||||
| Liquid assets to total assets | 10.5 | 12.5 | 9.7 | 9.6 | 9.2 | 11.0 | ||||
| Liquid assets to short-term liabilities | 18.4 | 22.5 | 15.8 | 15.6 | 15.7 | 19.3 | ||||
| Customer deposits to total (non-interbank) loans | … | … | … | 88.0 | 84.0 | 87.0 | ||||
| Exposure to foreign exchange risk | ||||||||||
| Net open position in foreign exchange to capital | 0.8 | 0.6 | 0.5 | 0.2 | 0.1 | 0.0 | ||||
| Foreign currency-denominated loans to total loans | … | … | … | 6.0 | 5.0 | 3.0 | ||||
| Foreign currency-denominated liabilities to total liabilities | … | … | … | 5.1 | 5.2 | 4.5 | ||||
| Financial system structure | ||||||||||
| Number | ||||||||||
| Banks | … | … | … | 5 | 5 | 4 | ||||
| Private commercial | … | … | … | 2 | 2 | 1 | ||||
| State-owned | … | … | … | 0 | 0 | 0 | ||||
| Foreign-owned subsidiaries | … | … | … | 3 | 3 | 3 | ||||
| Branches of foreign banks | … | … | … | 0 | 0 | 0 | ||||
| Assets (in billions of Namibia dollars) | ||||||||||
| Banks | … | … | … | 1.3 | 17.8 | 20.0 | ||||
| Private commercial | … | … | … | 3.7 | 5.7 | 4.3 | ||||
| State-owned | … | … | … | … | … | … | ||||
| Foreign-owned subsidiaries | … | … | … | 10.0 | 12.1 | 15.8 | ||||
| Branches of foreign banks | … | … | … | … | … | … | ||||
| Deposits (in billions of Namibia dollars) | ||||||||||
| Banks | … | … | … | 9.9 | 12.7 | 14.3 | ||||
| Private commercial | … | … | … | 3.0 | 4.7 | 3.5 | ||||
| State-owned | … | … | … | … | … | … | ||||
| Foreign-owned subsidiaries | … | … | … | 6.9 | 7.9 | 10.7 | ||||
| Branches of foreign banks | … | … | … | … | … | … | ||||
Namibia: Selected Indicators of Stock Exchange Activity, 1998–2003
(Based on calendar years, with listings and share price figures stated as of December 31)
Namibia: Selected Indicators of Stock Exchange Activity, 1998–2003
(Based on calendar years, with listings and share price figures stated as of December 31)
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||
|---|---|---|---|---|---|---|---|---|
| Tradings on the Namibia Stock Exchange | ||||||||
| Number of deals | 3,394 | 4,582 | 6,133 | 5,038 | 2,951 | 2,294 | ||
| Volume (millions of shares traded) | 107 | 208 | 221 | 143 | 117.9 | 121.4 | ||
| Value traded (millions of Namibia dollars) | 1,035 | 2,015 | 2,498 | 2,030 | 1,380 | 2,037 | ||
| Listings and share price figures | ||||||||
| Overall market | ||||||||
| Number of listed companies overall | 40 | 41 | 41 | 37 | 35 | 35 | ||
| Market capitalization (millions of Namibia dollars) | 159,378 | 333,916 | 337,500 | 511,651 | 386,617 | 460,315 | ||
| Index (year-end) | 176.0 | 275.0 | 292.0 | 392.0 | 305.0 | 347.0 | ||
| Local market | ||||||||
| Number of local listed companies | 15 | 14 | 14 | 14 | 12 | 11 | ||
| Local market capitalization (millions of Namibia dollars) | 2,515 | 4,258 | 2,326 | 1,805 | 1,728 | 2,054 | ||
| Local index (year-end) | 106.0 | 157.0 | 92.0 | 59.0 | 47.0 | 58.2 | ||
Namibia: Selected Indicators of Stock Exchange Activity, 1998–2003
(Based on calendar years, with listings and share price figures stated as of December 31)
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||
|---|---|---|---|---|---|---|---|---|
| Tradings on the Namibia Stock Exchange | ||||||||
| Number of deals | 3,394 | 4,582 | 6,133 | 5,038 | 2,951 | 2,294 | ||
| Volume (millions of shares traded) | 107 | 208 | 221 | 143 | 117.9 | 121.4 | ||
| Value traded (millions of Namibia dollars) | 1,035 | 2,015 | 2,498 | 2,030 | 1,380 | 2,037 | ||
| Listings and share price figures | ||||||||
| Overall market | ||||||||
| Number of listed companies overall | 40 | 41 | 41 | 37 | 35 | 35 | ||
| Market capitalization (millions of Namibia dollars) | 159,378 | 333,916 | 337,500 | 511,651 | 386,617 | 460,315 | ||
| Index (year-end) | 176.0 | 275.0 | 292.0 | 392.0 | 305.0 | 347.0 | ||
| Local market | ||||||||
| Number of local listed companies | 15 | 14 | 14 | 14 | 12 | 11 | ||
| Local market capitalization (millions of Namibia dollars) | 2,515 | 4,258 | 2,326 | 1,805 | 1,728 | 2,054 | ||
| Local index (year-end) | 106.0 | 157.0 | 92.0 | 59.0 | 47.0 | 58.2 | ||
Namibia: Balance of Payments, 1998–2003
Southern African Customs Union.
Gross foreign assets of the Bank of Namibia.
Namibia: Balance of Payments, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 Prel. |
|||||
|---|---|---|---|---|---|---|---|---|---|---|
| (In millions of Namibia dollars; unless otherwise stated) | ||||||||||
| Current account | 447.9 | 1,433.8 | 2,204.7 | 483.5 | 1,184.0 | 1,293.7 | ||||
| Trade balance | -1,579.8 | -1,248.5 | 47.5 | -1,711.4 | -2,183.0 | -3,493.4 | ||||
| Exports, f.o.b. | 6,655.7 | 7,313.7 | 9,183.7 | 9,827.6 | 11,277.8 | 9,450.6 | ||||
| Of which: diamonds | 2,161.4 | 3,022.2 | 4,247.8 | 4,506.5 | 5,608.3 | 3,864.6 | ||||
| other minerals | 1,092.5 | 1,123.1 | 1,287.6 | 1,672.4 | 2,106.4 | 1,381.2 | ||||
| fish | 2,100.3 | 1,643.1 | 1,281.7 | 1,354.3 | 1,184.0 | 1,684.0 | ||||
| Imports, f.o.b. | -8,235.5 | -8,562.2 | -9,136.2 | -11,539.0 | -13,460.8 | -12,944.0 | ||||
| Services | -872.3 | -746.9 | -1,010.6 | -174.6 | 116.9 | 846.4 | ||||
| Transportation (net) | -778.7 | -706.8 | -628.3 | -706.3 | -775.0 | -456.3 | ||||
| Travel | 1,094.3 | 1,208.7 | 521.6 | 1,405.1 | 1,703.8 | 1,942.2 | ||||
| Other services | -1,187.9 | -1,248.8 | -903.9 | -873.4 | -811.9 | -639.5 | ||||
| Income | 493.0 | 993.8 | 155.9 | -607.0 | 357.3 | 439.5 | ||||
| Compensation of employees | -13.0 | -8.3 | -9.4 | -7.5 | -13.1 | -27.3 | ||||
| Investment income | 506.0 | 1,002.1 | 165.3 | -599.5 | 370.4 | 466.8 | ||||
| Current transfers | 2,407.0 | 2,435.4 | 3,011.9 | 2,976.5 | 2,892.8 | 3,501.2 | ||||
| Government (net) | 2,301.1 | 2,306.6 | 2,899.6 | 2,865.0 | 2,776.9 | 3,341.3 | ||||
| Of which: SACU receipts 1/ | 1,805.2 | 2,131.8 | 2,718.2 | 2,700.2 | 2,607.9 | 2,925.9 | ||||
| Capital and financial account | -497.4 | -1,191.7 | -1,749.1 | -1,064.3 | -779.3 | -2,752.8 | ||||
| Capital account | 251.7 | 140.0 | 777.7 | 815.7 | 1,165.7 | 453.6 | ||||
| Financial account | -749.2 | -1,331.8 | -2,526.8 | -1,880.0 | -1,945.0 | -3,206.4 | ||||
| Direct investment | 420.3 | 115.3 | 1,312.0 | 3,034.8 | 1,857.8 | 1,052.1 | ||||
| Portfolio investment | -56.7 | -35.2 | -965.3 | -1,690.8 | -1,975.0 | -2,219.7 | ||||
| Other investment | -804.5 | -1,062.0 | -2,765.0 | -2,505.6 | -1,637.4 | -2,814.8 | ||||
| Of which: life insurance | -562.3 | -930.3 | -1,114.6 | -606.7 | -505.1 | -659.6 | ||||
| pension funds | -721.8 | -718.6 | -976.4 | -359.4 | -299.2 | -390.8 | ||||
| Reserve assets (increase -) | -308.2 | -349.9 | -108.5 | -718.4 | -190.4 | 776.0 | ||||
| Net errors and omissions | 49.6 | -242.1 | -455.6 | 580.8 | -404.7 | 1,459.1 | ||||
| Memorandum items: | ||||||||||
| Current account (excluding official transfers) | -1,853.2 | -872.8 | -694.9 | -2,381.5 | -1,592.9 | -2,047.6 | ||||
| Current account/GDP (in percent) | ||||||||||
| Excluding current official transfers | -9.9 | -4.2 | -2.9 | -8.6 | -5.0 | -6.3 | ||||
| Including current official transfers | 2.4 | 6.9 | 9.3 | 1.7 | 3.8 | 4.0 | ||||
| International reserves (end-of-period) 2/ | 1,527.2 | 1,877.1 | 1,985.6 | 2,704.0 | 2,894.4 | 2,118.4 | ||||
| In months of imports of goods and services | 1.6 | 2.0 | 1.9 | 1.7 | 2.5 | 1.7 | ||||
| Exchange rates | ||||||||||
| Namibia dollars per U.S. dollar (period average) | 5.5 | 6.1 | 6.9 | 8.6 | 10.5 | 7.6 | ||||
| Namibia dollars per U.S. dollar (end-of-period) | 5.9 | 6.2 | 7.6 | 12.1 | 9.3 | 7.6 | ||||
Southern African Customs Union.
Gross foreign assets of the Bank of Namibia.
Namibia: Balance of Payments, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 Prel. |
|||||
|---|---|---|---|---|---|---|---|---|---|---|
| (In millions of Namibia dollars; unless otherwise stated) | ||||||||||
| Current account | 447.9 | 1,433.8 | 2,204.7 | 483.5 | 1,184.0 | 1,293.7 | ||||
| Trade balance | -1,579.8 | -1,248.5 | 47.5 | -1,711.4 | -2,183.0 | -3,493.4 | ||||
| Exports, f.o.b. | 6,655.7 | 7,313.7 | 9,183.7 | 9,827.6 | 11,277.8 | 9,450.6 | ||||
| Of which: diamonds | 2,161.4 | 3,022.2 | 4,247.8 | 4,506.5 | 5,608.3 | 3,864.6 | ||||
| other minerals | 1,092.5 | 1,123.1 | 1,287.6 | 1,672.4 | 2,106.4 | 1,381.2 | ||||
| fish | 2,100.3 | 1,643.1 | 1,281.7 | 1,354.3 | 1,184.0 | 1,684.0 | ||||
| Imports, f.o.b. | -8,235.5 | -8,562.2 | -9,136.2 | -11,539.0 | -13,460.8 | -12,944.0 | ||||
| Services | -872.3 | -746.9 | -1,010.6 | -174.6 | 116.9 | 846.4 | ||||
| Transportation (net) | -778.7 | -706.8 | -628.3 | -706.3 | -775.0 | -456.3 | ||||
| Travel | 1,094.3 | 1,208.7 | 521.6 | 1,405.1 | 1,703.8 | 1,942.2 | ||||
| Other services | -1,187.9 | -1,248.8 | -903.9 | -873.4 | -811.9 | -639.5 | ||||
| Income | 493.0 | 993.8 | 155.9 | -607.0 | 357.3 | 439.5 | ||||
| Compensation of employees | -13.0 | -8.3 | -9.4 | -7.5 | -13.1 | -27.3 | ||||
| Investment income | 506.0 | 1,002.1 | 165.3 | -599.5 | 370.4 | 466.8 | ||||
| Current transfers | 2,407.0 | 2,435.4 | 3,011.9 | 2,976.5 | 2,892.8 | 3,501.2 | ||||
| Government (net) | 2,301.1 | 2,306.6 | 2,899.6 | 2,865.0 | 2,776.9 | 3,341.3 | ||||
| Of which: SACU receipts 1/ | 1,805.2 | 2,131.8 | 2,718.2 | 2,700.2 | 2,607.9 | 2,925.9 | ||||
| Capital and financial account | -497.4 | -1,191.7 | -1,749.1 | -1,064.3 | -779.3 | -2,752.8 | ||||
| Capital account | 251.7 | 140.0 | 777.7 | 815.7 | 1,165.7 | 453.6 | ||||
| Financial account | -749.2 | -1,331.8 | -2,526.8 | -1,880.0 | -1,945.0 | -3,206.4 | ||||
| Direct investment | 420.3 | 115.3 | 1,312.0 | 3,034.8 | 1,857.8 | 1,052.1 | ||||
| Portfolio investment | -56.7 | -35.2 | -965.3 | -1,690.8 | -1,975.0 | -2,219.7 | ||||
| Other investment | -804.5 | -1,062.0 | -2,765.0 | -2,505.6 | -1,637.4 | -2,814.8 | ||||
| Of which: life insurance | -562.3 | -930.3 | -1,114.6 | -606.7 | -505.1 | -659.6 | ||||
| pension funds | -721.8 | -718.6 | -976.4 | -359.4 | -299.2 | -390.8 | ||||
| Reserve assets (increase -) | -308.2 | -349.9 | -108.5 | -718.4 | -190.4 | 776.0 | ||||
| Net errors and omissions | 49.6 | -242.1 | -455.6 | 580.8 | -404.7 | 1,459.1 | ||||
| Memorandum items: | ||||||||||
| Current account (excluding official transfers) | -1,853.2 | -872.8 | -694.9 | -2,381.5 | -1,592.9 | -2,047.6 | ||||
| Current account/GDP (in percent) | ||||||||||
| Excluding current official transfers | -9.9 | -4.2 | -2.9 | -8.6 | -5.0 | -6.3 | ||||
| Including current official transfers | 2.4 | 6.9 | 9.3 | 1.7 | 3.8 | 4.0 | ||||
| International reserves (end-of-period) 2/ | 1,527.2 | 1,877.1 | 1,985.6 | 2,704.0 | 2,894.4 | 2,118.4 | ||||
| In months of imports of goods and services | 1.6 | 2.0 | 1.9 | 1.7 | 2.5 | 1.7 | ||||
| Exchange rates | ||||||||||
| Namibia dollars per U.S. dollar (period average) | 5.5 | 6.1 | 6.9 | 8.6 | 10.5 | 7.6 | ||||
| Namibia dollars per U.S. dollar (end-of-period) | 5.9 | 6.2 | 7.6 | 12.1 | 9.3 | 7.6 | ||||
Southern African Customs Union.
Gross foreign assets of the Bank of Namibia.
Namibia: Balance of Payments, 1998–2003
Southern African Customs Union.
Gross foreign assets of the Bank of Namibia.
Namibia: Balance of Payments, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 Prel. |
|||||
|---|---|---|---|---|---|---|---|---|---|---|
| (In millions of U.S. dollars; unless otherwise stated) | ||||||||||
| Current account | 81.0 | 234.5 | 317.9 | 56.2 | 112.6 | 171.0 | ||||
| Trade balance | -285.6 | -204.2 | 6.8 | -198.9 | -207.6 | -461.8 | ||||
| Exports, f.o.b. | 1,203.2 | 1,196.4 | 1,324.2 | 1,142.3 | 1,072.4 | 1,249.3 | ||||
| Of which: diamonds | 390.7 | 494.4 | 612.5 | 523.8 | 533.3 | 510.9 | ||||
| other minerals | 197.5 | 183.7 | 185.7 | 194.4 | 200.3 | 182.6 | ||||
| fish | 379.7 | 268.8 | 184.8 | 157.4 | 112.6 | 222.6 | ||||
| Imports, f.o.b. | -1,488.8 | -1,400.6 | -1,317.3 | -1,341.3 | -1,280.0 | -1,711.1 | ||||
| Services | -157.7 | -122.2 | -145.7 | -20.3 | 11.1 | 111.9 | ||||
| Transportation (net) | -140.8 | -115.6 | -90.6 | -82.1 | -73.7 | -60.3 | ||||
| Travel | 197.8 | 197.7 | 75.2 | 163.3 | 162.0 | 256.7 | ||||
| Other services | -214.7 | -204.3 | -130.3 | -101.5 | -77.2 | -84.5 | ||||
| Income | 89.1 | 162.6 | 22.5 | -70.6 | 34.0 | 58.1 | ||||
| Compensation of employees | -2.4 | -1.4 | -1.4 | -0.9 | -1.2 | -3.6 | ||||
| Investment income | 91.5 | 163.9 | 23.8 | -69.7 | 35.2 | 61.7 | ||||
| Current transfers | 435.1 | 398.4 | 434.3 | 346.0 | 275.1 | 462.8 | ||||
| Government (net) | 416.0 | 377.3 | 418.1 | 333.0 | 264.1 | 441.7 | ||||
| Of which: SACU receipts 1/ | 326.3 | 348.7 | 391.9 | 313.9 | 248.0 | 386.8 | ||||
| Capital and financial account | -86.8 | -194.6 | -250.9 | -99.4 | -71.6 | -364.0 | ||||
| Capital account | 45.5 | 22.9 | 112.1 | 94.8 | 110.8 | 60.0 | ||||
| Financial account | -132.3 | -217.5 | -363.0 | -194.3 | -182.4 | -423.9 | ||||
| Direct investment | 76.0 | 18.9 | 189.2 | 352.8 | 176.7 | 139.1 | ||||
| Portfolio investment | -10.2 | -5.8 | -139.2 | -196.5 | -187.8 | -293.4 | ||||
| Other investment | -145.4 | -173.7 | -398.7 | -291.2 | -155.7 | -372.2 | ||||
| Of which: life insurance | -101.7 | -152.2 | -160.7 | -70.5 | -48.0 | -87.2 | ||||
| pension funds | ||||||||||
| Reserve assets (increase -) | -130.5 | -117.6 | -140.8 | -41.8 | -28.5 | -51.7 | ||||
| Net errors and omissions | -52.6 | -56.9 | -14.3 | -59.2 | -15.6 | 102.6 | ||||
| Memorandum items: | 5.8 | -40.0 | -67.0 | 43.2 | -41.0 | 193.0 | ||||
| Current account (excluding official transfers) | ||||||||||
| Current account/GDP (in percent) | ||||||||||
| Excluding current official transfers | -335.0 | -142.8 | -100.2 | -276.8 | -151.5 | -270.7 | ||||
| Including current official transfers | -9.9 | -4.2 | -2.9 | -8.6 | -5.0 | -6.3 | ||||
| International reserves (end-of-period) 2/ | 2.4 | 6.9 | 9.3 | 1.7 | 3.8 | 4.0 | ||||
| In months of imports of goods and services | ||||||||||
| 260.6 | 305.0 | 262.4 | 223.0 | 311.2 | 280.0 | |||||
| Exchange rates | 1.6 | 2.0 | 1.9 | 1.7 | 2.5 | 1.7 | ||||
| Namibia dollars per U.S. dollar (period average) | ||||||||||
| Namibia dollars per U.S. dollar (end-of-period) | ||||||||||
| US$ per Namibia dollars (period average) | 0.18 | 0.16 | 0.14 | 0.12 | 0.10 | 0.13 | ||||
| US$ per Namibia dollars (end-of-period) | 0.17 | 0.16 | 0.13 | 0.08 | 0.12 | 0.15 | ||||
Southern African Customs Union.
Gross foreign assets of the Bank of Namibia.
Namibia: Balance of Payments, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 Prel. |
|||||
|---|---|---|---|---|---|---|---|---|---|---|
| (In millions of U.S. dollars; unless otherwise stated) | ||||||||||
| Current account | 81.0 | 234.5 | 317.9 | 56.2 | 112.6 | 171.0 | ||||
| Trade balance | -285.6 | -204.2 | 6.8 | -198.9 | -207.6 | -461.8 | ||||
| Exports, f.o.b. | 1,203.2 | 1,196.4 | 1,324.2 | 1,142.3 | 1,072.4 | 1,249.3 | ||||
| Of which: diamonds | 390.7 | 494.4 | 612.5 | 523.8 | 533.3 | 510.9 | ||||
| other minerals | 197.5 | 183.7 | 185.7 | 194.4 | 200.3 | 182.6 | ||||
| fish | 379.7 | 268.8 | 184.8 | 157.4 | 112.6 | 222.6 | ||||
| Imports, f.o.b. | -1,488.8 | -1,400.6 | -1,317.3 | -1,341.3 | -1,280.0 | -1,711.1 | ||||
| Services | -157.7 | -122.2 | -145.7 | -20.3 | 11.1 | 111.9 | ||||
| Transportation (net) | -140.8 | -115.6 | -90.6 | -82.1 | -73.7 | -60.3 | ||||
| Travel | 197.8 | 197.7 | 75.2 | 163.3 | 162.0 | 256.7 | ||||
| Other services | -214.7 | -204.3 | -130.3 | -101.5 | -77.2 | -84.5 | ||||
| Income | 89.1 | 162.6 | 22.5 | -70.6 | 34.0 | 58.1 | ||||
| Compensation of employees | -2.4 | -1.4 | -1.4 | -0.9 | -1.2 | -3.6 | ||||
| Investment income | 91.5 | 163.9 | 23.8 | -69.7 | 35.2 | 61.7 | ||||
| Current transfers | 435.1 | 398.4 | 434.3 | 346.0 | 275.1 | 462.8 | ||||
| Government (net) | 416.0 | 377.3 | 418.1 | 333.0 | 264.1 | 441.7 | ||||
| Of which: SACU receipts 1/ | 326.3 | 348.7 | 391.9 | 313.9 | 248.0 | 386.8 | ||||
| Capital and financial account | -86.8 | -194.6 | -250.9 | -99.4 | -71.6 | -364.0 | ||||
| Capital account | 45.5 | 22.9 | 112.1 | 94.8 | 110.8 | 60.0 | ||||
| Financial account | -132.3 | -217.5 | -363.0 | -194.3 | -182.4 | -423.9 | ||||
| Direct investment | 76.0 | 18.9 | 189.2 | 352.8 | 176.7 | 139.1 | ||||
| Portfolio investment | -10.2 | -5.8 | -139.2 | -196.5 | -187.8 | -293.4 | ||||
| Other investment | -145.4 | -173.7 | -398.7 | -291.2 | -155.7 | -372.2 | ||||
| Of which: life insurance | -101.7 | -152.2 | -160.7 | -70.5 | -48.0 | -87.2 | ||||
| pension funds | ||||||||||
| Reserve assets (increase -) | -130.5 | -117.6 | -140.8 | -41.8 | -28.5 | -51.7 | ||||
| Net errors and omissions | -52.6 | -56.9 | -14.3 | -59.2 | -15.6 | 102.6 | ||||
| Memorandum items: | 5.8 | -40.0 | -67.0 | 43.2 | -41.0 | 193.0 | ||||
| Current account (excluding official transfers) | ||||||||||
| Current account/GDP (in percent) | ||||||||||
| Excluding current official transfers | -335.0 | -142.8 | -100.2 | -276.8 | -151.5 | -270.7 | ||||
| Including current official transfers | -9.9 | -4.2 | -2.9 | -8.6 | -5.0 | -6.3 | ||||
| International reserves (end-of-period) 2/ | 2.4 | 6.9 | 9.3 | 1.7 | 3.8 | 4.0 | ||||
| In months of imports of goods and services | ||||||||||
| 260.6 | 305.0 | 262.4 | 223.0 | 311.2 | 280.0 | |||||
| Exchange rates | 1.6 | 2.0 | 1.9 | 1.7 | 2.5 | 1.7 | ||||
| Namibia dollars per U.S. dollar (period average) | ||||||||||
| Namibia dollars per U.S. dollar (end-of-period) | ||||||||||
| US$ per Namibia dollars (period average) | 0.18 | 0.16 | 0.14 | 0.12 | 0.10 | 0.13 | ||||
| US$ per Namibia dollars (end-of-period) | 0.17 | 0.16 | 0.13 | 0.08 | 0.12 | 0.15 | ||||
Southern African Customs Union.
Gross foreign assets of the Bank of Namibia.
Namibia: Merchandise Exports by Commodity Group, 1998–2003
Namibia: Merchandise Exports by Commodity Group, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 Prel. |
|||||
|---|---|---|---|---|---|---|---|---|---|---|
| (In millions of U.S. dollars) | ||||||||||
| Exports, f.o.b. | 1,202.5 | 1,196.4 | 1,324.0 | 1,142.4 | 1,072.0 | 1,249.3 | ||||
| Diamonds | 390.7 | 494.7 | 612.5 | 523.8 | 533.3 | 510.9 | ||||
| Other minerals | 197.5 | 183.7 | 185.7 | 194.4 | 200.2 | 182.6 | ||||
| Fish | 382.6 | 268.8 | 184.8 | 157.4 | 112.6 | 222.6 | ||||
| Unproceesed fish, lobster & crab | 12.5 | 10.6 | 31.0 | 41.0 | 38.0 | 27.9 | ||||
| Processed fish | 370.1 | 258.2 | 153.8 | 116.5 | 99.3 | 201.6 | ||||
| Other manufactured products | 32.8 | 32.7 | 69.6 | 69.4 | 50.6 | 151.6 | ||||
| Live animals | 89.7 | 72.1 | 39.6 | 39.4 | 56.6 | 78.6 | ||||
| Meat & meat preparations | 89.3 | 105.2 | 107.0 | 73.0 | 53.2 | 78.2 | ||||
| Other commodities | 19.9 | 30.4 | 104.7 | 75.3 | 21.1 | 13.1 | ||||
| Other food products | 0.0 | 8.9 | 17.1 | 9.3 | 7.5 | 4.8 | ||||
| Statistical discrepancy | … | … | 4.0 | … | 12.4 | … | ||||
| (Annual change in percent) | ||||||||||
| Exports, f.o.b. | -11.7 | -0.5 | 10.7 | -13.7 | -6.2 | 16.5 | ||||
| Diamonds | -27.8 | 26.6 | 23.8 | -14.5 | 1.8 | -4.2 | ||||
| Other minerals | -21.8 | -7.0 | 1.1 | 4.7 | 3.0 | -8.8 | ||||
| Fish | 9.3 | -29.7 | -31.2 | -14.8 | -28.5 | 97.7 | ||||
| Unproceesed fish, lobster & crab | 20.9 | -15.1 | 192.1 | 32.3 | -7.2 | -26.6 | ||||
| Processed fish | 8.9 | -30.2 | -40.4 | -24.3 | -14.7 | 103.0 | ||||
| Other manufactured products | -26.9 | -0.1 | 112.5 | -0.3 | -27.1 | 199.6 | ||||
| Live animals | 8.9 | -19.6 | -45.1 | -0.5 | 43.6 | 38.8 | ||||
| Meat & meat preparations | 30.1 | 17.7 | 1.8 | -31.7 | -27.2 | 47.2 | ||||
| Other commodities | -11.5 | 52.6 | 245.0 | -28.1 | -71.9 | -38.0 | ||||
| Other food products | 0.0 | … | 92.6 | -45.5 | -19.9 | -35.3 | ||||
| (Percent of total) | ||||||||||
| Exports, f.o.b. | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | ||||
| Diamonds | 32.5 | 41.3 | 46.3 | 45.9 | 49.7 | 40.9 | ||||
| Other minerals | 16.4 | 15.4 | 14.0 | 17.0 | 18.7 | 14.6 | ||||
| Fish | 31.8 | 22.5 | 14.0 | 13.8 | 10.5 | 17.8 | ||||
| Unproceesed fish, lobster & crab | 1.0 | 0.9 | 2.3 | 3.6 | 3.5 | 2.2 | ||||
| Processed fish | 30.8 | 21.6 | 11.6 | 10.2 | 9.3 | 16.1 | ||||
| Other manufactured products | 2.7 | 2.7 | 5.3 | 6.1 | 4.7 | 12.1 | ||||
| Live animals | 7.5 | 6.0 | 3.0 | 3.4 | 5.3 | 6.3 | ||||
| Meat & meat preparations | 7.4 | 8.8 | 8.1 | 6.4 | 5.0 | 6.3 | ||||
| Other commodities | 1.7 | 2.5 | 7.9 | 6.6 | 2.0 | 1.0 | ||||
| Other food products | 0.0 | 0.7 | 1.3 | 0.8 | 0.7 | 0.4 | ||||
Namibia: Merchandise Exports by Commodity Group, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 Prel. |
|||||
|---|---|---|---|---|---|---|---|---|---|---|
| (In millions of U.S. dollars) | ||||||||||
| Exports, f.o.b. | 1,202.5 | 1,196.4 | 1,324.0 | 1,142.4 | 1,072.0 | 1,249.3 | ||||
| Diamonds | 390.7 | 494.7 | 612.5 | 523.8 | 533.3 | 510.9 | ||||
| Other minerals | 197.5 | 183.7 | 185.7 | 194.4 | 200.2 | 182.6 | ||||
| Fish | 382.6 | 268.8 | 184.8 | 157.4 | 112.6 | 222.6 | ||||
| Unproceesed fish, lobster & crab | 12.5 | 10.6 | 31.0 | 41.0 | 38.0 | 27.9 | ||||
| Processed fish | 370.1 | 258.2 | 153.8 | 116.5 | 99.3 | 201.6 | ||||
| Other manufactured products | 32.8 | 32.7 | 69.6 | 69.4 | 50.6 | 151.6 | ||||
| Live animals | 89.7 | 72.1 | 39.6 | 39.4 | 56.6 | 78.6 | ||||
| Meat & meat preparations | 89.3 | 105.2 | 107.0 | 73.0 | 53.2 | 78.2 | ||||
| Other commodities | 19.9 | 30.4 | 104.7 | 75.3 | 21.1 | 13.1 | ||||
| Other food products | 0.0 | 8.9 | 17.1 | 9.3 | 7.5 | 4.8 | ||||
| Statistical discrepancy | … | … | 4.0 | … | 12.4 | … | ||||
| (Annual change in percent) | ||||||||||
| Exports, f.o.b. | -11.7 | -0.5 | 10.7 | -13.7 | -6.2 | 16.5 | ||||
| Diamonds | -27.8 | 26.6 | 23.8 | -14.5 | 1.8 | -4.2 | ||||
| Other minerals | -21.8 | -7.0 | 1.1 | 4.7 | 3.0 | -8.8 | ||||
| Fish | 9.3 | -29.7 | -31.2 | -14.8 | -28.5 | 97.7 | ||||
| Unproceesed fish, lobster & crab | 20.9 | -15.1 | 192.1 | 32.3 | -7.2 | -26.6 | ||||
| Processed fish | 8.9 | -30.2 | -40.4 | -24.3 | -14.7 | 103.0 | ||||
| Other manufactured products | -26.9 | -0.1 | 112.5 | -0.3 | -27.1 | 199.6 | ||||
| Live animals | 8.9 | -19.6 | -45.1 | -0.5 | 43.6 | 38.8 | ||||
| Meat & meat preparations | 30.1 | 17.7 | 1.8 | -31.7 | -27.2 | 47.2 | ||||
| Other commodities | -11.5 | 52.6 | 245.0 | -28.1 | -71.9 | -38.0 | ||||
| Other food products | 0.0 | … | 92.6 | -45.5 | -19.9 | -35.3 | ||||
| (Percent of total) | ||||||||||
| Exports, f.o.b. | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | ||||
| Diamonds | 32.5 | 41.3 | 46.3 | 45.9 | 49.7 | 40.9 | ||||
| Other minerals | 16.4 | 15.4 | 14.0 | 17.0 | 18.7 | 14.6 | ||||
| Fish | 31.8 | 22.5 | 14.0 | 13.8 | 10.5 | 17.8 | ||||
| Unproceesed fish, lobster & crab | 1.0 | 0.9 | 2.3 | 3.6 | 3.5 | 2.2 | ||||
| Processed fish | 30.8 | 21.6 | 11.6 | 10.2 | 9.3 | 16.1 | ||||
| Other manufactured products | 2.7 | 2.7 | 5.3 | 6.1 | 4.7 | 12.1 | ||||
| Live animals | 7.5 | 6.0 | 3.0 | 3.4 | 5.3 | 6.3 | ||||
| Meat & meat preparations | 7.4 | 8.8 | 8.1 | 6.4 | 5.0 | 6.3 | ||||
| Other commodities | 1.7 | 2.5 | 7.9 | 6.6 | 2.0 | 1.0 | ||||
| Other food products | 0.0 | 0.7 | 1.3 | 0.8 | 0.7 | 0.4 | ||||
Namibia: Mineral Exports, 1998–2003
Namibia: Mineral Exports, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | ||
|---|---|---|---|---|---|---|---|
| Prel. | |||||||
| (In millions of U.S. dollars) | |||||||
| Diamonds | 390.7 | 494.7 | 612.5 | 523.8 | 533.3 | 510.9 | |
| Copper | 9.5 | 0.0 | 8.3 | 23.3 | 24.8 | 24.3 | |
| Lead | 1.2 | 1.4 | 3.1 | 3.6 | 4.6 | 7.5 | |
| Zinc | 22.2 | 21.8 | 16.9 | 15.6 | 13.3 | 26.2 | |
| Silver | 2.7 | 0.0 | 2.6 | 2.9 | 6.0 | 3.7 | |
| Gold | 18.4 | 19.6 | 23.1 | 24.1 | 28.6 | 29.0 | |
| Other | 143.4 | 141.0 | 131.7 | 124.8 | 122.9 | 91.8 | |
| Total | 588.2 | 678.4 | 798.2 | 718.1 | 733.5 | 693.5 | |
| (In percent of total) | |||||||
| Diamonds | 66.4 | 72.9 | 76.7 | 72.9 | 72.7 | 73.7 | |
| Copper | 1.6 | 0.0 | 1.0 | 3.2 | 3.4 | 3.5 | |
| Lead | 0.2 | 0.2 | 0.4 | 0.5 | 0.6 | 1.1 | |
| Zinc | 3.8 | 3.2 | 2.1 | 2.2 | 1.8 | 3.8 | |
| Silver | 0.5 | 0.0 | 0.3 | 0.4 | 0.8 | 0.5 | |
| Gold | 3.1 | 2.9 | 2.9 | 3.4 | 3.9 | 4.2 | |
| Other | 24.4 | 20.8 | 16.5 | 17.4 | 16.8 | 13.2 | |
| Total | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | |
Namibia: Mineral Exports, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | ||
|---|---|---|---|---|---|---|---|
| Prel. | |||||||
| (In millions of U.S. dollars) | |||||||
| Diamonds | 390.7 | 494.7 | 612.5 | 523.8 | 533.3 | 510.9 | |
| Copper | 9.5 | 0.0 | 8.3 | 23.3 | 24.8 | 24.3 | |
| Lead | 1.2 | 1.4 | 3.1 | 3.6 | 4.6 | 7.5 | |
| Zinc | 22.2 | 21.8 | 16.9 | 15.6 | 13.3 | 26.2 | |
| Silver | 2.7 | 0.0 | 2.6 | 2.9 | 6.0 | 3.7 | |
| Gold | 18.4 | 19.6 | 23.1 | 24.1 | 28.6 | 29.0 | |
| Other | 143.4 | 141.0 | 131.7 | 124.8 | 122.9 | 91.8 | |
| Total | 588.2 | 678.4 | 798.2 | 718.1 | 733.5 | 693.5 | |
| (In percent of total) | |||||||
| Diamonds | 66.4 | 72.9 | 76.7 | 72.9 | 72.7 | 73.7 | |
| Copper | 1.6 | 0.0 | 1.0 | 3.2 | 3.4 | 3.5 | |
| Lead | 0.2 | 0.2 | 0.4 | 0.5 | 0.6 | 1.1 | |
| Zinc | 3.8 | 3.2 | 2.1 | 2.2 | 1.8 | 3.8 | |
| Silver | 0.5 | 0.0 | 0.3 | 0.4 | 0.8 | 0.5 | |
| Gold | 3.1 | 2.9 | 2.9 | 3.4 | 3.9 | 4.2 | |
| Other | 24.4 | 20.8 | 16.5 | 17.4 | 16.8 | 13.2 | |
| Total | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | |
Namibia: External Trade Indices, 1998–2003
Namibia: External Trade Indices, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 Prel. |
||
|---|---|---|---|---|---|---|---|
| (Indices; 1998=100) | |||||||
| Exports | |||||||
| Value | 100.0 | 99.4 | 110.1 | 94.9 | 89.1 | 103.8 | |
| Volume | 100.0 | 104.4 | 103.5 | 98.9 | 90.7 | 108.7 | |
| Price | 100.0 | 95.2 | 106.3 | 96.0 | 98.2 | 95.5 | |
| Imports | |||||||
| Value | 100.0 | 94.1 | 88.5 | 90.1 | 86.0 | 114.9 | |
| Volume | 100.0 | 101.4 | 96.1 | 99.9 | 113.8 | 120.1 | |
| Price | 100.0 | 92.8 | 92.1 | 90.2 | 75.6 | 95.7 | |
| Terms of trade | 100.0 | 102.6 | 115.5 | 106.5 | 130.0 | 99.9 | |
| (Annual change in percent) | |||||||
| Exports | |||||||
| Value | -10.3 | -0.6 | 10.7 | -13.7 | -6.1 | 16.5 | |
| Volume | -0.7 | 4.4 | -0.9 | -4.5 | -8.2 | 19.8 | |
| Price | -9.7 | -4.8 | 11.7 | -9.7 | 2.3 | -2.7 | |
| Imports | |||||||
| Value | -9.5 | -5.9 | -5.9 | 1.8 | -4.6 | 33.7 | |
| Volume | 7.6 | 1.4 | -5.2 | 4.0 | 13.9 | 5.6 | |
| Price | -15.8 | -7.2 | -0.8 | -2.1 | -16.2 | 26.6 | |
| Terms of trade | 7.4 | 2.6 | 12.5 | -7.8 | 22.1 | -23.2 | |
Namibia: External Trade Indices, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 Prel. |
||
|---|---|---|---|---|---|---|---|
| (Indices; 1998=100) | |||||||
| Exports | |||||||
| Value | 100.0 | 99.4 | 110.1 | 94.9 | 89.1 | 103.8 | |
| Volume | 100.0 | 104.4 | 103.5 | 98.9 | 90.7 | 108.7 | |
| Price | 100.0 | 95.2 | 106.3 | 96.0 | 98.2 | 95.5 | |
| Imports | |||||||
| Value | 100.0 | 94.1 | 88.5 | 90.1 | 86.0 | 114.9 | |
| Volume | 100.0 | 101.4 | 96.1 | 99.9 | 113.8 | 120.1 | |
| Price | 100.0 | 92.8 | 92.1 | 90.2 | 75.6 | 95.7 | |
| Terms of trade | 100.0 | 102.6 | 115.5 | 106.5 | 130.0 | 99.9 | |
| (Annual change in percent) | |||||||
| Exports | |||||||
| Value | -10.3 | -0.6 | 10.7 | -13.7 | -6.1 | 16.5 | |
| Volume | -0.7 | 4.4 | -0.9 | -4.5 | -8.2 | 19.8 | |
| Price | -9.7 | -4.8 | 11.7 | -9.7 | 2.3 | -2.7 | |
| Imports | |||||||
| Value | -9.5 | -5.9 | -5.9 | 1.8 | -4.6 | 33.7 | |
| Volume | 7.6 | 1.4 | -5.2 | 4.0 | 13.9 | 5.6 | |
| Price | -15.8 | -7.2 | -0.8 | -2.1 | -16.2 | 26.6 | |
| Terms of trade | 7.4 | 2.6 | 12.5 | -7.8 | 22.1 | -23.2 | |
Namibia: Merchandise Imports, by Commodity Group, 1998–2003
Namibia: Merchandise Imports, by Commodity Group, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||
|---|---|---|---|---|---|---|---|---|
| Prel. | ||||||||
| (In millions of U.S. dollars) | ||||||||
| Total imports, c.i.f. | 1,647.4 | 1,575.8 | 1,478.7 | 1,524.7 | 1,256.0 | 1,784.7 | ||
| Food, live animals, beverages, and tobacco | 309.0 | 288.4 | 240.9 | 231.1 | 208.0 | 285.7 | ||
| Textiles, clothing, footwear | 117.1 | 108.3 | 97.0 | 84.2 | 78.2 | 111.8 | ||
| Wood, paper and paper products, furniture | 141.9 | 129.9 | 141.2 | 115.1 | 92.9 | 131.1 | ||
| Mineral fuels and lubricants | 102.1 | 121.2 | 137.4 | 204.0 | 147.3 | 214.8 | ||
| Chemicals, plastic, medical, rubber | 213.9 | 215.8 | 212.1 | 253.3 | 184.7 | 259.4 | ||
| Metal and metal products | 147.7 | 108.5 | 103.4 | 114.8 | 110.1 | 156.1 | ||
| Machinery and electrical goods | 317.8 | 281.9 | 318.7 | 319.0 | 271.1 | 385.1 | ||
| Vehicles and transport equipment | 321.2 | 347.5 | 251.0 | 229.7 | 189.9 | 270.2 | ||
| All other imports | 32.2 | 27.0 | 26.8 | 21.6 | 8.7 | 19.3 | ||
| Adjustment for re-exports | -55.5 | -52.5 | -49.9 | -48.0 | -34.9 | -48.8 | ||
| (In percent of total) | ||||||||
| Total imports, c.i.f. | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | ||
| Food, live animals, beverages, and tobacco | 18.8 | 18.3 | 16.3 | 15.2 | 16.6 | 16.0 | ||
| Textiles, clothing, footwear | 7.1 | 6.9 | 6.6 | 5.5 | 6.2 | 6.3 | ||
| Wood, paper and paper products, furniture | 8.6 | 8.2 | 9.5 | 7.5 | 7.4 | 7.3 | ||
| Mineral fuels and lubricants | 6.2 | 7.7 | 9.3 | 13.4 | 11.7 | 12.0 | ||
| Chemicals, plastic, medical, rubber | 13.0 | 13.7 | 14.3 | 16.6 | 14.7 | 14.5 | ||
| Metal and metal products | 9.0 | 6.9 | 7.0 | 7.5 | 8.8 | 8.7 | ||
| Machinery and electrical goods | 19.3 | 17.9 | 21.6 | 20.9 | 21.6 | 21.6 | ||
| Vehicles and transport equipment | 19.5 | 22.0 | 17.0 | 15.1 | 15.1 | 15.1 | ||
| All other imports | 2.0 | 1.7 | 1.8 | 1.4 | 0.7 | 1.1 | ||
| Adjustment for re-exports | -3.4 | -3.3 | -3.4 | -3.1 | -2.8 | -2.7 | ||
| Memorandum items: | ||||||||
| Total imports, f.o.b. (in millions of U.S. dollars) | 1,488.8 | 1,400.6 | 1,317.3 | 1,341.3 | 1,280.0 | 1,711.1 | ||
| Imports, f.o.b./imports, c.i.f. (in percent) | 90.4 | 88.9 | 89.1 | 88.0 | 101.9 | 95.9 | ||
Namibia: Merchandise Imports, by Commodity Group, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||
|---|---|---|---|---|---|---|---|---|
| Prel. | ||||||||
| (In millions of U.S. dollars) | ||||||||
| Total imports, c.i.f. | 1,647.4 | 1,575.8 | 1,478.7 | 1,524.7 | 1,256.0 | 1,784.7 | ||
| Food, live animals, beverages, and tobacco | 309.0 | 288.4 | 240.9 | 231.1 | 208.0 | 285.7 | ||
| Textiles, clothing, footwear | 117.1 | 108.3 | 97.0 | 84.2 | 78.2 | 111.8 | ||
| Wood, paper and paper products, furniture | 141.9 | 129.9 | 141.2 | 115.1 | 92.9 | 131.1 | ||
| Mineral fuels and lubricants | 102.1 | 121.2 | 137.4 | 204.0 | 147.3 | 214.8 | ||
| Chemicals, plastic, medical, rubber | 213.9 | 215.8 | 212.1 | 253.3 | 184.7 | 259.4 | ||
| Metal and metal products | 147.7 | 108.5 | 103.4 | 114.8 | 110.1 | 156.1 | ||
| Machinery and electrical goods | 317.8 | 281.9 | 318.7 | 319.0 | 271.1 | 385.1 | ||
| Vehicles and transport equipment | 321.2 | 347.5 | 251.0 | 229.7 | 189.9 | 270.2 | ||
| All other imports | 32.2 | 27.0 | 26.8 | 21.6 | 8.7 | 19.3 | ||
| Adjustment for re-exports | -55.5 | -52.5 | -49.9 | -48.0 | -34.9 | -48.8 | ||
| (In percent of total) | ||||||||
| Total imports, c.i.f. | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | ||
| Food, live animals, beverages, and tobacco | 18.8 | 18.3 | 16.3 | 15.2 | 16.6 | 16.0 | ||
| Textiles, clothing, footwear | 7.1 | 6.9 | 6.6 | 5.5 | 6.2 | 6.3 | ||
| Wood, paper and paper products, furniture | 8.6 | 8.2 | 9.5 | 7.5 | 7.4 | 7.3 | ||
| Mineral fuels and lubricants | 6.2 | 7.7 | 9.3 | 13.4 | 11.7 | 12.0 | ||
| Chemicals, plastic, medical, rubber | 13.0 | 13.7 | 14.3 | 16.6 | 14.7 | 14.5 | ||
| Metal and metal products | 9.0 | 6.9 | 7.0 | 7.5 | 8.8 | 8.7 | ||
| Machinery and electrical goods | 19.3 | 17.9 | 21.6 | 20.9 | 21.6 | 21.6 | ||
| Vehicles and transport equipment | 19.5 | 22.0 | 17.0 | 15.1 | 15.1 | 15.1 | ||
| All other imports | 2.0 | 1.7 | 1.8 | 1.4 | 0.7 | 1.1 | ||
| Adjustment for re-exports | -3.4 | -3.3 | -3.4 | -3.1 | -2.8 | -2.7 | ||
| Memorandum items: | ||||||||
| Total imports, f.o.b. (in millions of U.S. dollars) | 1,488.8 | 1,400.6 | 1,317.3 | 1,341.3 | 1,280.0 | 1,711.1 | ||
| Imports, f.o.b./imports, c.i.f. (in percent) | 90.4 | 88.9 | 89.1 | 88.0 | 101.9 | 95.9 | ||
Namibia: Imports (c.i.f) by Country of Origin, 1998–2003
Namibia: Imports (c.i.f) by Country of Origin, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |
|---|---|---|---|---|---|---|
| Prel. | ||||||
| (In millions of Namibia dollars) | ||||||
| Belgium | 33.3 | 31.3 | 27.1 | 43.1 | 88.1 | 59.1 |
| Canada | 364.1 | 370.4 | … | … | 121.4 | … |
| China | 34.1 | 32.0 | 45.0 | 141.4 | 121.4 | 135.6 |
| France | 68.1 | 52.9 | 61.9 | 71.2 | 150.3 | 65.5 |
| Germany | 267.2 | 177.8 | 194.8 | 253.8 | 426.7 | 248.9 |
| India | 32.2 | 26.6 | … | 29.1 | 48.6 | 50.9 |
| Isreal | … | … | 40.5 | 24.0 | … | 50.0 |
| Japan | 55.5 | 32.5 | 26.3 | 23.7 | … | 64.0 |
| Netherlands | 29.6 | 16.7 | 42.6 | 49.9 | 46.9 | … |
| New Zealand | 82.8 | 56.1 | … | … | … | … |
| Russian Federation | 103.1 | 57.7 | 40.7 | … | … | … |
| Singapore | … | … | … | … | 141.9 | 64.4 |
| South Africa | 7,430.6 | 7,584.0 | 8,546.5 | 10,736.0 | 10,507.7 | 8,530.6 |
| Spain | 65.6 | 36.7 | 56.5 | 108.4 | 169.4 | 144.1 |
| Switzerland | 34.1 | 32.0 | 253.8 | 169.4 | 248.9 | |
| United Kingdom | 295.3 | 365.7 | 196.2 | 152.0 | 357.7 | 130.6 |
| United States of America | 364.1 | 370.4 | 124.6 | 117.0 | 272.5 | 105.8 |
| Zimbabwe | 103.1 | 57.7 | 23.0 | 46.0 | … | 48.2 |
| Sub-total | 9,363.0 | 9,300.7 | 9,425.6 | 12,049.3 | 12,622.1 | 9,946.6 |
| Other | 371.7 | -14.3 | 487.7 | 493.3 | 964.2 | 655.8 |
| Total | 9,734.7 | 9,286.4 | 9,913.3 | 12,542.6 | 13,586.3 | 10,602.4 |
| (In percent of total) | ||||||
| Belgium | 0.3 | 0.3 | 0.3 | 0.3 | 0.6 | 0.6 |
| Canada | 3.7 | 4.0 | … | … | 0.9 | … |
| China | 0.4 | 0.3 | 0.5 | 1.1 | 0.9 | 1.3 |
| France | 0.7 | 0.6 | 0.6 | 0.6 | 1.1 | 0.6 |
| Germany | 2.7 | 1.9 | 2.0 | 2.0 | 3.1 | 2.3 |
| India | 0.3 | 0.3 | … | 0.2 | 0.4 | 0.5 |
| Isreal | … | … | 0.4 | 0.2 | … | 0.5 |
| Japan | 0.6 | 0.3 | 0.3 | 0.2 | … | 0.6 |
| Netherlands | 0.3 | 0.2 | 0.4 | 0.4 | 0.3 | … |
| New Zealand | 0.9 | 0.6 | … | … | … | … |
| Russian Federation | 1.1 | 0.6 | 0.4 | … | … | … |
| Singapore | … | … | … | … | 1.0 | 0.6 |
| South Africa | 76.3 | 81.7 | 86.2 | 85.6 | 77.3 | 80.5 |
| Spain | 0.7 | 0.4 | 0.6 | 0.9 | 1.2 | 1.4 |
| Switzerland | 0.4 | 0.3 | 0.0 | 2.0 | 1.2 | 2.3 |
| United Kingdom | 3.0 | 3.9 | 2.0 | 1.2 | 2.6 | 1.2 |
| United States of America | 3.7 | 4.0 | 1.3 | 0.9 | 2.0 | 1.0 |
| Zimbabwe | 1.1 | 0.6 | 0.2 | 0.4 | … | 0.5 |
| Sub-total | 96.2 | 100.2 | 95.1 | 96.1 | 92.9 | 93.8 |
| Other | 3.8 | -0.2 | 4.9 | 3.9 | 7.1 | 6.2 |
| Total | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
Namibia: Imports (c.i.f) by Country of Origin, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |
|---|---|---|---|---|---|---|
| Prel. | ||||||
| (In millions of Namibia dollars) | ||||||
| Belgium | 33.3 | 31.3 | 27.1 | 43.1 | 88.1 | 59.1 |
| Canada | 364.1 | 370.4 | … | … | 121.4 | … |
| China | 34.1 | 32.0 | 45.0 | 141.4 | 121.4 | 135.6 |
| France | 68.1 | 52.9 | 61.9 | 71.2 | 150.3 | 65.5 |
| Germany | 267.2 | 177.8 | 194.8 | 253.8 | 426.7 | 248.9 |
| India | 32.2 | 26.6 | … | 29.1 | 48.6 | 50.9 |
| Isreal | … | … | 40.5 | 24.0 | … | 50.0 |
| Japan | 55.5 | 32.5 | 26.3 | 23.7 | … | 64.0 |
| Netherlands | 29.6 | 16.7 | 42.6 | 49.9 | 46.9 | … |
| New Zealand | 82.8 | 56.1 | … | … | … | … |
| Russian Federation | 103.1 | 57.7 | 40.7 | … | … | … |
| Singapore | … | … | … | … | 141.9 | 64.4 |
| South Africa | 7,430.6 | 7,584.0 | 8,546.5 | 10,736.0 | 10,507.7 | 8,530.6 |
| Spain | 65.6 | 36.7 | 56.5 | 108.4 | 169.4 | 144.1 |
| Switzerland | 34.1 | 32.0 | 253.8 | 169.4 | 248.9 | |
| United Kingdom | 295.3 | 365.7 | 196.2 | 152.0 | 357.7 | 130.6 |
| United States of America | 364.1 | 370.4 | 124.6 | 117.0 | 272.5 | 105.8 |
| Zimbabwe | 103.1 | 57.7 | 23.0 | 46.0 | … | 48.2 |
| Sub-total | 9,363.0 | 9,300.7 | 9,425.6 | 12,049.3 | 12,622.1 | 9,946.6 |
| Other | 371.7 | -14.3 | 487.7 | 493.3 | 964.2 | 655.8 |
| Total | 9,734.7 | 9,286.4 | 9,913.3 | 12,542.6 | 13,586.3 | 10,602.4 |
| (In percent of total) | ||||||
| Belgium | 0.3 | 0.3 | 0.3 | 0.3 | 0.6 | 0.6 |
| Canada | 3.7 | 4.0 | … | … | 0.9 | … |
| China | 0.4 | 0.3 | 0.5 | 1.1 | 0.9 | 1.3 |
| France | 0.7 | 0.6 | 0.6 | 0.6 | 1.1 | 0.6 |
| Germany | 2.7 | 1.9 | 2.0 | 2.0 | 3.1 | 2.3 |
| India | 0.3 | 0.3 | … | 0.2 | 0.4 | 0.5 |
| Isreal | … | … | 0.4 | 0.2 | … | 0.5 |
| Japan | 0.6 | 0.3 | 0.3 | 0.2 | … | 0.6 |
| Netherlands | 0.3 | 0.2 | 0.4 | 0.4 | 0.3 | … |
| New Zealand | 0.9 | 0.6 | … | … | … | … |
| Russian Federation | 1.1 | 0.6 | 0.4 | … | … | … |
| Singapore | … | … | … | … | 1.0 | 0.6 |
| South Africa | 76.3 | 81.7 | 86.2 | 85.6 | 77.3 | 80.5 |
| Spain | 0.7 | 0.4 | 0.6 | 0.9 | 1.2 | 1.4 |
| Switzerland | 0.4 | 0.3 | 0.0 | 2.0 | 1.2 | 2.3 |
| United Kingdom | 3.0 | 3.9 | 2.0 | 1.2 | 2.6 | 1.2 |
| United States of America | 3.7 | 4.0 | 1.3 | 0.9 | 2.0 | 1.0 |
| Zimbabwe | 1.1 | 0.6 | 0.2 | 0.4 | … | 0.5 |
| Sub-total | 96.2 | 100.2 | 95.1 | 96.1 | 92.9 | 93.8 |
| Other | 3.8 | -0.2 | 4.9 | 3.9 | 7.1 | 6.2 |
| Total | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
Namibia: Exports by Country Destination, 1998–2003
Namibia: Exports by Country Destination, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |
|---|---|---|---|---|---|---|
| Prel. | ||||||
| (In millions of Namibia dollars) | ||||||
| Angola | 257.8 | 296.5 | 634.2 | 603.0 | 1,944.0 | 2,417.7 |
| Australia | … | 36.3 | 44.4 | … | 53.0 | 39.1 |
| Belgium | 125.9 | 254.8 | 167.9 | 64.0 | 78.5 | 52.9 |
| Botswana | … | 26.2 | 54.1 | 53.3 | 63.6 | 68.0 |
| Canada | 52.6 | 384.0 | 204.0 | … | 42.5 | 95.9 |
| China | 23.2 | … | … | 54.7 | … | 42.7 |
| Congo | 100.2 | 23.9 | 29.0 | 41.8 | 95.1 | 251.2 |
| France | 22.0 | 149.2 | 360.6 | 201.7 | 842.4 | 160.9 |
| Germany | 54.3 | 74.2 | 95.9 | 102.2 | 153.6 | 108.3 |
| Ghana | … | … | … | … | 73.7 | 100.0 |
| Iceland | … | … | … | … | 126.5 | 54.1 |
| Italy | 90.9 | 88.3 | 143.1 | 204.6 | 243.1 | 171.4 |
| Japan | 48.7 | 73.0 | 57.5 | 79.1 | 178.9 | 55.8 |
| Netherlands | 183.5 | 180.6 | 233.1 | 157.5 | 179.7 | 103.5 |
| Russian Federation | … | 21.2 | 31.2 | … | … | 52.6 |
| South Africa | 1,941.4 | 2,313.1 | 2,328.8 | 2,471.7 | 3,396.8 | 3,057.0 |
| Spain | 950.1 | 1,035.5 | 918.6 | 1,538.1 | 1,622.8 | 1,242.8 |
| Switzerland | 411.7 | 266.5 | 286.1 | … | 40.7 | 48.0 |
| United Kingdom | 1,182.4 | 2,301.8 | 2,996.2 | 4,103.4 | 3,281.7 | 1,009.6 |
| United States of America | 277.1 | 230.9 | 274.1 | 346.0 | 421.2 | 261.7 |
| Zimbabwe | 37.8 | 29.1 | 27.7 | 36.4 | … | … |
| Sub-total | 5,759.6 | 7,785.0 | 8,886.3 | 10,057.5 | 12,837.9 | 9,393.1 |
| Other | 690.1 | 220.0 | 271.7 | 391.7 | 522.0 | 308.8 |
| Total | 6,449.6 | 8,005.0 | 9,158.0 | 10,449.2 | 13,359.9 | 9,701.9 |
| (In percent of total) | ||||||
| Angola | 4.0 | 3.7 | 6.9 | 5.8 | 14.6 | 24.9 |
| Australia | … | 0.5 | 0.5 | … | 0.4 | 0.4 |
| Belgium | 2.0 | 3.2 | 1.8 | 0.6 | 0.6 | 0.5 |
| Botswana | … | 0.3 | 0.6 | 0.5 | 0.5 | 0.7 |
| Canada | 0.8 | 4.8 | 2.2 | … | 0.3 | 1.0 |
| China | 0.4 | … | … | 0.5 | … | 0.4 |
| Congo | 1.6 | 0.3 | 0.3 | 0.4 | 0.7 | 2.6 |
| France | 0.3 | 1.9 | 3.9 | 1.9 | 6.3 | 1.7 |
| Germany | 0.8 | 0.9 | 1.0 | 1.0 | 1.1 | 1.1 |
| Ghana | … | … | … | … | 0.6 | 1.0 |
| Iceland | … | … | … | … | 0.9 | 0.6 |
| Italy | 1.4 | 1.1 | 1.6 | 2.0 | 1.8 | 1.8 |
| Japan | 0.8 | 0.9 | 0.6 | 0.8 | 1.3 | 0.6 |
| Netherlands | 2.8 | 2.3 | 2.5 | 1.5 | 1.3 | 1.1 |
| Russian Federation | … | 0.3 | 0.3 | … | … | 0.5 |
| South Africa | 30.1 | 28.9 | 25.4 | 23.7 | 25.4 | 31.5 |
| Spain | 14.7 | 12.9 | 10.0 | 14.7 | 12.1 | 12.8 |
| Switzerland | 6.4 | 3.3 | 3.1 | … | 0.3 | 0.5 |
| United Kingdom | 18.3 | 28.8 | 32.7 | 39.3 | 24.6 | 10.4 |
| United States of America | 4.3 | 2.9 | 3.0 | 3.3 | 3.2 | 2.7 |
| Zimbabwe | 0.6 | 0.4 | 0.3 | 0.3 | … | … |
| Sub-total | 89.3 | 97.3 | 97.0 | 96.3 | 96.1 | 96.8 |
| Other | 10.7 | 2.7 | 3.0 | 3.7 | 3.9 | 3.2 |
| Total | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
Namibia: Exports by Country Destination, 1998–2003
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |
|---|---|---|---|---|---|---|
| Prel. | ||||||
| (In millions of Namibia dollars) | ||||||
| Angola | 257.8 | 296.5 | 634.2 | 603.0 | 1,944.0 | 2,417.7 |
| Australia | … | 36.3 | 44.4 | … | 53.0 | 39.1 |
| Belgium | 125.9 | 254.8 | 167.9 | 64.0 | 78.5 | 52.9 |
| Botswana | … | 26.2 | 54.1 | 53.3 | 63.6 | 68.0 |
| Canada | 52.6 | 384.0 | 204.0 | … | 42.5 | 95.9 |
| China | 23.2 | … | … | 54.7 | … | 42.7 |
| Congo | 100.2 | 23.9 | 29.0 | 41.8 | 95.1 | 251.2 |
| France | 22.0 | 149.2 | 360.6 | 201.7 | 842.4 | 160.9 |
| Germany | 54.3 | 74.2 | 95.9 | 102.2 | 153.6 | 108.3 |
| Ghana | … | … | … | … | 73.7 | 100.0 |
| Iceland | … | … | … | … | 126.5 | 54.1 |
| Italy | 90.9 | 88.3 | 143.1 | 204.6 | 243.1 | 171.4 |
| Japan | 48.7 | 73.0 | 57.5 | 79.1 | 178.9 | 55.8 |
| Netherlands | 183.5 | 180.6 | 233.1 | 157.5 | 179.7 | 103.5 |
| Russian Federation | … | 21.2 | 31.2 | … | … | 52.6 |
| South Africa | 1,941.4 | 2,313.1 | 2,328.8 | 2,471.7 | 3,396.8 | 3,057.0 |
| Spain | 950.1 | 1,035.5 | 918.6 | 1,538.1 | 1,622.8 | 1,242.8 |
| Switzerland | 411.7 | 266.5 | 286.1 | … | 40.7 | 48.0 |
| United Kingdom | 1,182.4 | 2,301.8 | 2,996.2 | 4,103.4 | 3,281.7 | 1,009.6 |
| United States of America | 277.1 | 230.9 | 274.1 | 346.0 | 421.2 | 261.7 |
| Zimbabwe | 37.8 | 29.1 | 27.7 | 36.4 | … | … |
| Sub-total | 5,759.6 | 7,785.0 | 8,886.3 | 10,057.5 | 12,837.9 | 9,393.1 |
| Other | 690.1 | 220.0 | 271.7 | 391.7 | 522.0 | 308.8 |
| Total | 6,449.6 | 8,005.0 | 9,158.0 | 10,449.2 | 13,359.9 | 9,701.9 |
| (In percent of total) | ||||||
| Angola | 4.0 | 3.7 | 6.9 | 5.8 | 14.6 | 24.9 |
| Australia | … | 0.5 | 0.5 | … | 0.4 | 0.4 |
| Belgium | 2.0 | 3.2 | 1.8 | 0.6 | 0.6 | 0.5 |
| Botswana | … | 0.3 | 0.6 | 0.5 | 0.5 | 0.7 |
| Canada | 0.8 | 4.8 | 2.2 | … | 0.3 | 1.0 |
| China | 0.4 | … | … | 0.5 | … | 0.4 |
| Congo | 1.6 | 0.3 | 0.3 | 0.4 | 0.7 | 2.6 |
| France | 0.3 | 1.9 | 3.9 | 1.9 | 6.3 | 1.7 |
| Germany | 0.8 | 0.9 | 1.0 | 1.0 | 1.1 | 1.1 |
| Ghana | … | … | … | … | 0.6 | 1.0 |
| Iceland | … | … | … | … | 0.9 | 0.6 |
| Italy | 1.4 | 1.1 | 1.6 | 2.0 | 1.8 | 1.8 |
| Japan | 0.8 | 0.9 | 0.6 | 0.8 | 1.3 | 0.6 |
| Netherlands | 2.8 | 2.3 | 2.5 | 1.5 | 1.3 | 1.1 |
| Russian Federation | … | 0.3 | 0.3 | … | … | 0.5 |
| South Africa | 30.1 | 28.9 | 25.4 | 23.7 | 25.4 | 31.5 |
| Spain | 14.7 | 12.9 | 10.0 | 14.7 | 12.1 | 12.8 |
| Switzerland | 6.4 | 3.3 | 3.1 | … | 0.3 | 0.5 |
| United Kingdom | 18.3 | 28.8 | 32.7 | 39.3 | 24.6 | 10.4 |
| United States of America | 4.3 | 2.9 | 3.0 | 3.3 | 3.2 | 2.7 |
| Zimbabwe | 0.6 | 0.4 | 0.3 | 0.3 | … | … |
| Sub-total | 89.3 | 97.3 | 97.0 | 96.3 | 96.1 | 96.8 |
| Other | 10.7 | 2.7 | 3.0 | 3.7 | 3.9 | 3.2 |
| Total | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
Namibia: Developments in the Exchange Rate of the Namibia Dollar, 1995-2004
(Period average; 1995=100)
Namibia: Developments in the Exchange Rate of the Namibia Dollar, 1995-2004
(Period average; 1995=100)
| Effective Exchange Rate | Botswana Pula |
Zimbabwe Dollar |
|||||
|---|---|---|---|---|---|---|---|
| Nominal | Real | U.K. Pound | U.S. Dollar | ||||
| (Namibia dollar per foreign currency index) | |||||||
| 1995 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | |
| 1996 | 94.9 | 97.4 | 117.1 | 118.5 | 98.8 | 103.3 | |
| 1997 | 93.7 | 98.8 | 131.8 | 127.0 | 96.5 | 91.3 | |
| 1998 | 87.6 | 93.3 | 159.9 | 152.4 | 99.9 | 55.8 | |
| 1999 | 84.2 | 94.1 | 172.6 | 168.4 | 100.9 | 38.1 | |
| 2000 | 82.5 | 96.9 | 183.4 | 191.3 | 104.0 | 37.3 | |
| 2001 | 77.3 | 95.2 | 216.3 | 237.1 | 112.6 | 37.3 | |
| 2002 | 69.8 | 90.4 | 275.7 | 290.5 | 127.9 | 45.7 | |
| 2003 | 76.4 | 101.8 | 215.5 | 208.4 | 118.4 | 7.9 | |
| 2004 | |||||||
| January | 75.7 | 101.8 | 221.6 | 192.0 | 114.8 | 0.4 | |
| February | 76.2 | 103.3 | 220.6 | 186.5 | 107.0 | 0.4 | |
| March | 77.5 | 104.8 | 211.9 | 183.0 | 109.0 | 0.5 | |
| April | 78.3 | 105.9 | 207.3 | 181.5 | 101.3 | 0.3 | |
| May | 77.4 | 104.8 | 212.8 | 188.1 | 109.4 | 0.4 | |
| June | 77.7 | 104.8 | 204.8 | 176.9 | 105.0 | 0.4 | |
| July | 80.6 | 109.6 | 196.8 | 168.7 | 100.2 | 0.3 | |
| August | 80.4 | 109.8 | 205.2 | 178.0 | 101.3 | 0.4 | |
| September | 77.4 | 106.6 | 205.5 | 180.9 | 104.6 | 0.3 | |
| October | 76.9 | 105.6 | 200.6 | 175.3 | 103.4 | 0.3 | |
| November | 77.3 | 105.8 | 197.6 | 167.7 | 103.1 | 0.3 | |
Namibia: Developments in the Exchange Rate of the Namibia Dollar, 1995-2004
(Period average; 1995=100)
| Effective Exchange Rate | Botswana Pula |
Zimbabwe Dollar |
|||||
|---|---|---|---|---|---|---|---|
| Nominal | Real | U.K. Pound | U.S. Dollar | ||||
| (Namibia dollar per foreign currency index) | |||||||
| 1995 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | |
| 1996 | 94.9 | 97.4 | 117.1 | 118.5 | 98.8 | 103.3 | |
| 1997 | 93.7 | 98.8 | 131.8 | 127.0 | 96.5 | 91.3 | |
| 1998 | 87.6 | 93.3 | 159.9 | 152.4 | 99.9 | 55.8 | |
| 1999 | 84.2 | 94.1 | 172.6 | 168.4 | 100.9 | 38.1 | |
| 2000 | 82.5 | 96.9 | 183.4 | 191.3 | 104.0 | 37.3 | |
| 2001 | 77.3 | 95.2 | 216.3 | 237.1 | 112.6 | 37.3 | |
| 2002 | 69.8 | 90.4 | 275.7 | 290.5 | 127.9 | 45.7 | |
| 2003 | 76.4 | 101.8 | 215.5 | 208.4 | 118.4 | 7.9 | |
| 2004 | |||||||
| January | 75.7 | 101.8 | 221.6 | 192.0 | 114.8 | 0.4 | |
| February | 76.2 | 103.3 | 220.6 | 186.5 | 107.0 | 0.4 | |
| March | 77.5 | 104.8 | 211.9 | 183.0 | 109.0 | 0.5 | |
| April | 78.3 | 105.9 | 207.3 | 181.5 | 101.3 | 0.3 | |
| May | 77.4 | 104.8 | 212.8 | 188.1 | 109.4 | 0.4 | |
| June | 77.7 | 104.8 | 204.8 | 176.9 | 105.0 | 0.4 | |
| July | 80.6 | 109.6 | 196.8 | 168.7 | 100.2 | 0.3 | |
| August | 80.4 | 109.8 | 205.2 | 178.0 | 101.3 | 0.4 | |
| September | 77.4 | 106.6 | 205.5 | 180.9 | 104.6 | 0.3 | |
| October | 76.9 | 105.6 | 200.6 | 175.3 | 103.4 | 0.3 | |
| November | 77.3 | 105.8 | 197.6 | 167.7 | 103.1 | 0.3 | |
Namibia: Summary of the Central Government Tax System, November 2004
(All amounts in Namibia dollars)
Namibia: Summary of the Central Government Tax System, November 2004
(All amounts in Namibia dollars)
| Tax | Nature of Tax | Exemptions and Deductions | Rates | |||
|---|---|---|---|---|---|---|
| 1. Taxes on net income and profits | ||||||
| 1.1 Taxes on companies | ||||||
| 1.11 Company income tax (Income Tax Act No. 24 of 1981, as amended) | Income tax is levied on the taxable income of any company registered in Namibia and on the taxable income generated in Namibia by foreign companies. Taxable income is defined as gross income less allowable deductions and loss offsets. The year of assessment is the financial year of the company. Companies are required to make two provisional tax payments in respect of each year of assessment, i.e., the first within six months after the commencement of the year of assessment, and the second at the end of such year. Companies are subject to selfassessment and must render returns of income within 210 days after the end of the year of assessment. Each return must include a computation of taxable income and of the amount of tax payable (to-up-payment). Any tax due must be paid simultaneously with the furnishing of the return. Any shortfall will attract interest as from the first day following the 210 days after the end of the assessment year. Comprehensive agreements for the avoidance of double taxation and fiscal evasion ratified, published, and in force: South Africa, Germany, France, Sweden, India, Mauritius, Romania, and Russia. An old, pre-independence agreement with the UK is still honored, but a new treaty is expected to be finalized soon. The following agreements are in various stages of finalization: Singapore, Tunisia, Zimbabwe, Malaysia, Botswana, and Poland. Mining companies are subject to special taxation provisions. (Comment: The revised strategy with respect to double taxation and fiscal evasion agreements is to first concentrate and prioritize on treaties within SACU and SADC, before embarking upon any further bilateral agreements.) Tax incentives are granted to manufacturing enterprises and to exporters of manufactured goods (excluding fishing and meat products). Eighty percent of the profits resulting from the export of qualifying manufactured goods are exempt from income tax. An allowance of 25 percent in respect of land-based transportation costs is provided. |
Deductions include normal operating costs and interest, but exclude dividends declared and capital expenditures. Capital expenditure allowances granted to nonmining companies are as follows: Expenditure incurred during the year of assessment in respect of machinery, implements, utensils, and articles used by the taxpayer for the purposes of his trade is allowed as follows: one-third in the year of acquisition, one-third in the second year; and one-third in the third year. The principal assets on which depreciation is not allowed are intangible assets such as goodwill, patents, and trademarks. However, the cost of patents and trademarks can be written off over the expected life of the patent or trademark or 25 years, whichever is the lesser. Capital expenditure initial and annual allowances for buildings are as follows: In respect of buildings used by the taxpayer for the purposes of his trade, a deduction of 20 percent of the cost of erection of the building is allowed in the year in which it is brought into use, and 4 percent a year for 20 years following the year of erection. However, in the case of a manufacturer, the initial deductions following the 20 percent are enhanced to 8 percent for the following 10 years. |
Nonmining: 35 percent on taxable income derived in Namibia for years of assessment commencing on or after 1/1/99. All mining except diamond mining: 37.5 percent on taxable income derived for years of assessment commencing on or after 1/1/2000. Diamond mining: 50 percent of taxable income plus a surcharge of 10 percent, yielding an effective rate of 55 percent. The rate of taxation was extended to companies rendering services in connection with mining for diamonds on behalf of any person licensed to conduct such mining operations as from January 1995. Registered manufacturers, 18 percent on taxable income derived for years of assessment commencing on or after 1/1/2003. |
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| 1.2 Taxes on individuals | Wage and salary earners are subject to a withholding tax at source (pay-as-you-earn). Self-employed taxpayers are registered as provisional taxpayers. Provisional taxpayers are required to estimate their income for the year of assessment, calculate tax thereon, and pay this amount of tax in two half-yearly installments. Capital gains are not subject to tax. Dividends are tax exempt, except building society dividends. Interest received on investments with NamPost are exempted from tax (companies do not enjoy this exemption) Individuals (excluding those wage and salary earners who do not have to render returns) are subject to selfassessment on the same basis as companies. |
Capital expenditure allowances for mining companies are as follows: Capital expenditure consists of development and exploration expenditure. Exploration expenditure can be written off in full in the assessment year during which it is incurred. Development expenditure can be deducted on the following basis: one-third in the assessment year in which the expenditure is incurred; one-third in the ensuing assessment year; and one-third in the second ensuing assessment year. Individuals may deduct an aggregate of N$30,000 from their gross income in respect of contributions to retirement annuity funds, provident and/or pension funds, and premiums paid on educational policies for their children. Husbands and wives are taxed independent of each other. |
The tax payable is calculated by applying the rates shown below to the taxable amount. The tax rates are as follows: |
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| 1.21 Individual income tax: general (Income Tax Act No. 24 of 1981) |
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| Persons whose income comprises remuneration for a full year of assessment from one employer and who are not entitled to deductions incurred in the production of income and who receive interest income of less than N$500 are not required to submit returns of income. Assessments will be issued to such persons on the basis of information received from their employers. Refunds due on income tax, value-added tax, sales tax, and additional sales levy may be set off against any other tax, levy, interest, or penalty that is administered by the minister before any payment is made to the taxpayer. |
Taxable amount: where the taxable amount does not exceed N$24,000, exceeds N$24,000 but does not exceed N$40,000, exceeds N$40,000, but does not exceed N$80,000, exceeds N$80,000, but does not exceed N$200,000, exceeds N$200,000. |
Rates of tax: no tax payable; 17.5 percent of the amount over N$24,000; N$2,800 plus 29.5 percent of the amount by which the taxable amount exceeds N$40,000; N$14,600 plus 34.5 percent of the amount by which the taxable amount exceeds N$80,000; N$56,000 plus35 percent of the amount by which the taxable amount exceeds N$200,000. |
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| 1.3 Other | Normal tax rate applicable to companies, computed on 30 percent of the royalty paid. | |||||
| 1.31 Taxes on royalties and know-how (Income Tax Act No. 24 of 1981) | ||||||
| 1.32 Tax on nonresidential shareholders (Income Tax Act No. 24 of 1981) | Tax on nonresidential shareholders is a tax on dividend income derived by nonresidents. The tax is withheld by the company declaring the dividends. | 10 percent on the amount of the dividend. | ||||
| 2. Taxes on property | ||||||
| 2.1 Property transfer taxes (Transfer Duty Act No. 14 of 1993) | Property transfer taxes are taxes payable on the purchase consideration or fair value (whichever is the greater) of transfers of immovable property. | Transfer duty: Where the said value or the said amount, as the case may be-
In the case of the acquisition of agricultural land by a person to whom an advance for the purposes of such acquisition is made by the Agricultural Bank of Namibia, in accordance with the provisions of Section 46(1)(a) of the Agricultural Bank Act, 1944 (Act 13 of 1944)
Eight per cent of the said value or the said amount, as the case may be, if the person by whom the property is acquired or in whose favour or for whose benefit the said interest or restriction is renounced is a person other than a natural person. |
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| 3.0 Taxes on goods and services (General Comment: The former General Sales Tax and the Additional Sales taxes were repealed on November 26, 2000 and substituted by the Value-Added Tax System) | An invoice based VAT system is applied. | Denial of input tax deduction A registered person is not entitled to claim input tax on the following:
|
Transactions (supplies) that are not exempt are taxable supplies and are subject to VAT at one of two rates:
|
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| 3.1 Value-Added Tax (VAT Act, 2000, Act. No. 10) |
Exemption supplies A person who makes exempt supplies only, is not a taxable person and cannot be registered. VAT is not charged on supplies and no amount may be recovered in respect of input tax. Goods and services exempted:
Exempt imports
|
Zero-rated supplies A registered person making a zero-rates supply charges VAT a 0 percent on the supply and is entitled to recover the input tax on goods and services acquired to make such supplies. Goods and services exported are normally treated as zero-rated supplies, as are
|
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| 3.2 Selective Excises (Customs and Excise Act No. 20 of 1998, as amended) | Duties are payable by the manufacturer or importer of certain commodities. Most are specific, but some ad valorem rates exist. | A rebate is granted on dutiable goods that are used by diplomatic representatives, etc., and on taxable goods used by producers in the manufacture of taxable goods for industrial or commercial purposes. | For alcohol products, the following rates are in effect:
The following rates apply to manufactured tobacco products:
The following rates apply to petrol products:
The following rates apply to diesel products:
|
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| 4. Taxes on international trade and transactions | ||||||
| 4.1 Customs duties (Customs and Excise Act No. 20 of 1984, as amended) | A three-column tariff schedule based on the Brussels nomenclature with general, most favored nation, and preferential rates of duty is applied. Preferential treatment is given to goods from the United Kingdom and, in some cases, goods from Canada and Ireland. Namibia is in a customs union with South Africa, Botswana, Lesotho, and Swaziland. Most duties are assessed ad valorem at f.o.b. value, but there are a number of specific duties. | Rebates are allowed for certain goods used in manufacture by approved industries or by particular institutions and bodies. | Import duties vary widely. | |||
| 5. Other taxes | ||||||
| 5.1 Stamp duties (Stamp Duties Act No. 15 of 1993) | Ad valorem or specific taxes are payable on a wide range of legal documents, such as agreements, bills of exchange, bonds, fixed-deposit receipts, leases, marketable securities, and transfer deeds. | Most securities issued by certain public corporations and public authorities are exempt from stamp duty on issue and transfers. Where a marketable securities tax is chargeable, brokers’ notes do not attract stamp duty. | Rates of stamp duty vary for different instruments and also for a particular instrument. Examples are agreements of lease (N$5–15 per N$1,000); bills of exchange (N$2 per N$1,000); and fixed-deposit receipts (N$1 per N$1,000). | |||
| 6. Compound interest on outstanding income tax and value added tax is payable at 20 percent a year, calculated daily and compounded monthly before 01 October 2004. From 01 October 2004, any person who fails to pay any VAT by the due date for payment shall be liable for the payment of simple interest at the rate of 20 per cent per annum on the amount of unpaid tax in respect of the period reckoned from the first day after the date on which the payment was due to the date of payment of such unpaid amount. | ||||||
| 7. Any person who fails to pay any Value Added Tax payable under this Act on or before the due date for payment shall be liable for the payment of a penalty equal to 10 per cent of the amount of unpaid tax for each month or part thereof reckoned from the first day after the due date to the date of payment of such unpaid amount. | ||||||
Namibia: Summary of the Central Government Tax System, November 2004
(All amounts in Namibia dollars)
| Tax | Nature of Tax | Exemptions and Deductions | Rates | |||
|---|---|---|---|---|---|---|
| 1. Taxes on net income and profits | ||||||
| 1.1 Taxes on companies | ||||||
| 1.11 Company income tax (Income Tax Act No. 24 of 1981, as amended) | Income tax is levied on the taxable income of any company registered in Namibia and on the taxable income generated in Namibia by foreign companies. Taxable income is defined as gross income less allowable deductions and loss offsets. The year of assessment is the financial year of the company. Companies are required to make two provisional tax payments in respect of each year of assessment, i.e., the first within six months after the commencement of the year of assessment, and the second at the end of such year. Companies are subject to selfassessment and must render returns of income within 210 days after the end of the year of assessment. Each return must include a computation of taxable income and of the amount of tax payable (to-up-payment). Any tax due must be paid simultaneously with the furnishing of the return. Any shortfall will attract interest as from the first day following the 210 days after the end of the assessment year. Comprehensive agreements for the avoidance of double taxation and fiscal evasion ratified, published, and in force: South Africa, Germany, France, Sweden, India, Mauritius, Romania, and Russia. An old, pre-independence agreement with the UK is still honored, but a new treaty is expected to be finalized soon. The following agreements are in various stages of finalization: Singapore, Tunisia, Zimbabwe, Malaysia, Botswana, and Poland. Mining companies are subject to special taxation provisions. (Comment: The revised strategy with respect to double taxation and fiscal evasion agreements is to first concentrate and prioritize on treaties within SACU and SADC, before embarking upon any further bilateral agreements.) Tax incentives are granted to manufacturing enterprises and to exporters of manufactured goods (excluding fishing and meat products). Eighty percent of the profits resulting from the export of qualifying manufactured goods are exempt from income tax. An allowance of 25 percent in respect of land-based transportation costs is provided. |
Deductions include normal operating costs and interest, but exclude dividends declared and capital expenditures. Capital expenditure allowances granted to nonmining companies are as follows: Expenditure incurred during the year of assessment in respect of machinery, implements, utensils, and articles used by the taxpayer for the purposes of his trade is allowed as follows: one-third in the year of acquisition, one-third in the second year; and one-third in the third year. The principal assets on which depreciation is not allowed are intangible assets such as goodwill, patents, and trademarks. However, the cost of patents and trademarks can be written off over the expected life of the patent or trademark or 25 years, whichever is the lesser. Capital expenditure initial and annual allowances for buildings are as follows: In respect of buildings used by the taxpayer for the purposes of his trade, a deduction of 20 percent of the cost of erection of the building is allowed in the year in which it is brought into use, and 4 percent a year for 20 years following the year of erection. However, in the case of a manufacturer, the initial deductions following the 20 percent are enhanced to 8 percent for the following 10 years. |
Nonmining: 35 percent on taxable income derived in Namibia for years of assessment commencing on or after 1/1/99. All mining except diamond mining: 37.5 percent on taxable income derived for years of assessment commencing on or after 1/1/2000. Diamond mining: 50 percent of taxable income plus a surcharge of 10 percent, yielding an effective rate of 55 percent. The rate of taxation was extended to companies rendering services in connection with mining for diamonds on behalf of any person licensed to conduct such mining operations as from January 1995. Registered manufacturers, 18 percent on taxable income derived for years of assessment commencing on or after 1/1/2003. |
|||
| 1.2 Taxes on individuals | Wage and salary earners are subject to a withholding tax at source (pay-as-you-earn). Self-employed taxpayers are registered as provisional taxpayers. Provisional taxpayers are required to estimate their income for the year of assessment, calculate tax thereon, and pay this amount of tax in two half-yearly installments. Capital gains are not subject to tax. Dividends are tax exempt, except building society dividends. Interest received on investments with NamPost are exempted from tax (companies do not enjoy this exemption) Individuals (excluding those wage and salary earners who do not have to render returns) are subject to selfassessment on the same basis as companies. |
Capital expenditure allowances for mining companies are as follows: Capital expenditure consists of development and exploration expenditure. Exploration expenditure can be written off in full in the assessment year during which it is incurred. Development expenditure can be deducted on the following basis: one-third in the assessment year in which the expenditure is incurred; one-third in the ensuing assessment year; and one-third in the second ensuing assessment year. Individuals may deduct an aggregate of N$30,000 from their gross income in respect of contributions to retirement annuity funds, provident and/or pension funds, and premiums paid on educational policies for their children. Husbands and wives are taxed independent of each other. |
The tax payable is calculated by applying the rates shown below to the taxable amount. The tax rates are as follows: |
|||
| 1.21 Individual income tax: general (Income Tax Act No. 24 of 1981) |
||||||
| Persons whose income comprises remuneration for a full year of assessment from one employer and who are not entitled to deductions incurred in the production of income and who receive interest income of less than N$500 are not required to submit returns of income. Assessments will be issued to such persons on the basis of information received from their employers. Refunds due on income tax, value-added tax, sales tax, and additional sales levy may be set off against any other tax, levy, interest, or penalty that is administered by the minister before any payment is made to the taxpayer. |
Taxable amount: where the taxable amount does not exceed N$24,000, exceeds N$24,000 but does not exceed N$40,000, exceeds N$40,000, but does not exceed N$80,000, exceeds N$80,000, but does not exceed N$200,000, exceeds N$200,000. |
Rates of tax: no tax payable; 17.5 percent of the amount over N$24,000; N$2,800 plus 29.5 percent of the amount by which the taxable amount exceeds N$40,000; N$14,600 plus 34.5 percent of the amount by which the taxable amount exceeds N$80,000; N$56,000 plus35 percent of the amount by which the taxable amount exceeds N$200,000. |
||||
| 1.3 Other | Normal tax rate applicable to companies, computed on 30 percent of the royalty paid. | |||||
| 1.31 Taxes on royalties and know-how (Income Tax Act No. 24 of 1981) | ||||||
| 1.32 Tax on nonresidential shareholders (Income Tax Act No. 24 of 1981) | Tax on nonresidential shareholders is a tax on dividend income derived by nonresidents. The tax is withheld by the company declaring the dividends. | 10 percent on the amount of the dividend. | ||||
| 2. Taxes on property | ||||||
| 2.1 Property transfer taxes (Transfer Duty Act No. 14 of 1993) | Property transfer taxes are taxes payable on the purchase consideration or fair value (whichever is the greater) of transfers of immovable property. | Transfer duty: Where the said value or the said amount, as the case may be-
In the case of the acquisition of agricultural land by a person to whom an advance for the purposes of such acquisition is made by the Agricultural Bank of Namibia, in accordance with the provisions of Section 46(1)(a) of the Agricultural Bank Act, 1944 (Act 13 of 1944)
Eight per cent of the said value or the said amount, as the case may be, if the person by whom the property is acquired or in whose favour or for whose benefit the said interest or restriction is renounced is a person other than a natural person. |
||||
| 3.0 Taxes on goods and services (General Comment: The former General Sales Tax and the Additional Sales taxes were repealed on November 26, 2000 and substituted by the Value-Added Tax System) | An invoice based VAT system is applied. | Denial of input tax deduction A registered person is not entitled to claim input tax on the following:
|
Transactions (supplies) that are not exempt are taxable supplies and are subject to VAT at one of two rates:
|
|||
| 3.1 Value-Added Tax (VAT Act, 2000, Act. No. 10) |
Exemption supplies A person who makes exempt supplies only, is not a taxable person and cannot be registered. VAT is not charged on supplies and no amount may be recovered in respect of input tax. Goods and services exempted:
Exempt imports
|
Zero-rated supplies A registered person making a zero-rates supply charges VAT a 0 percent on the supply and is entitled to recover the input tax on goods and services acquired to make such supplies. Goods and services exported are normally treated as zero-rated supplies, as are
|
||||
| 3.2 Selective Excises (Customs and Excise Act No. 20 of 1998, as amended) | Duties are payable by the manufacturer or importer of certain commodities. Most are specific, but some ad valorem rates exist. | A rebate is granted on dutiable goods that are used by diplomatic representatives, etc., and on taxable goods used by producers in the manufacture of taxable goods for industrial or commercial purposes. | For alcohol products, the following rates are in effect:
The following rates apply to manufactured tobacco products:
The following rates apply to petrol products:
The following rates apply to diesel products:
|
|||
| 4. Taxes on international trade and transactions | ||||||
| 4.1 Customs duties (Customs and Excise Act No. 20 of 1984, as amended) | A three-column tariff schedule based on the Brussels nomenclature with general, most favored nation, and preferential rates of duty is applied. Preferential treatment is given to goods from the United Kingdom and, in some cases, goods from Canada and Ireland. Namibia is in a customs union with South Africa, Botswana, Lesotho, and Swaziland. Most duties are assessed ad valorem at f.o.b. value, but there are a number of specific duties. | Rebates are allowed for certain goods used in manufacture by approved industries or by particular institutions and bodies. | Import duties vary widely. | |||
| 5. Other taxes | ||||||
| 5.1 Stamp duties (Stamp Duties Act No. 15 of 1993) | Ad valorem or specific taxes are payable on a wide range of legal documents, such as agreements, bills of exchange, bonds, fixed-deposit receipts, leases, marketable securities, and transfer deeds. | Most securities issued by certain public corporations and public authorities are exempt from stamp duty on issue and transfers. Where a marketable securities tax is chargeable, brokers’ notes do not attract stamp duty. | Rates of stamp duty vary for different instruments and also for a particular instrument. Examples are agreements of lease (N$5–15 per N$1,000); bills of exchange (N$2 per N$1,000); and fixed-deposit receipts (N$1 per N$1,000). | |||
| 6. Compound interest on outstanding income tax and value added tax is payable at 20 percent a year, calculated daily and compounded monthly before 01 October 2004. From 01 October 2004, any person who fails to pay any VAT by the due date for payment shall be liable for the payment of simple interest at the rate of 20 per cent per annum on the amount of unpaid tax in respect of the period reckoned from the first day after the date on which the payment was due to the date of payment of such unpaid amount. | ||||||
| 7. Any person who fails to pay any Value Added Tax payable under this Act on or before the due date for payment shall be liable for the payment of a penalty equal to 10 per cent of the amount of unpaid tax for each month or part thereof reckoned from the first day after the due date to the date of payment of such unpaid amount. | ||||||
References
Bank of Namibia (2004), Annual Symposium Deliberations, August.
Bank of Namibia (2004), Quarterly Bulletin, September.
Euromoney (2004), “Africa—The Rise of a Capital Market Culture,” November, pp.124- 126.
IMF, Global Financial Stability Report, various series.
Namibia Cabinet of Ministers, Media Release, July 27, 2004.
Risk (2004), “Special Report on South Africa,” November, pp. 78–84.
RMB Asset Management (2004), “Presentation to GIPF Stakeholders Function—Regulation 28,” October 2004.
Prepared by Manmohan Singh (ICM). This paper has benefited from extensive discussions with Bank of Namibia officials, especially Paul Hartmann, Ipumbu Shiimi, and Phillip Shiimi. The views of the major banks and asset managers were also solicited.
Media Release from the Cabinet of Ministers, July 27, 2004.
See An Overview of the Namibian Bond Market, Bank of Namibia Annual Symposium, August 2004.
Overall government debt amounted to N$10.2 billion (31 percent of GDP) at the end of the 2003/04 fiscal year, of which N$1.6 billion were external debt (5 percent of GDP). The public debt stock including publicly guaranteed debt amounted to N$13.6 billion (41 percent of GDP). Namibia’s public debt stock is low by sub-Saharan African standards, but higher than in neighboring countries, such as Botswana and South Africa (with public debt/GDP ratios of 8 percent and 23 percent, respectively).
The 2005 issue due in April 2005 has largely been rolled over via multiple “switch-auctions” into other longer-dated issues; amortization due in April 2005 is now only about N$300 million.
Until 2002, the total outstanding stock of nongovernmental debt was below N$200 million.
Namibia Financial Institutions Supervisory Authority (NAMFISA) is the official regulator for the nonbanking sector and oversees the pension and insurance sectors, unit trusts and the stock exchange.
Unit Trusts are regulated by the United Trust Control Act and are not governed by Regulation 28 or Regulation 15.
