Namibia is a country located in southern Africa. It has a coast on the Atlantic Ocean and borders Angola, Botswana, South Africa, and Zambia. The geography of Namibia includes the Namib Desert along the coast and the Kalahari Desert in the east. The government system is a republic; the chief of state is the president, and the head of government is the prime minister. Namibia has a mixed economic system which includes a variety of private freedom, combined with centralized economic planning and government regulation. Namibia is a member of the Southern African Development Community (SADC).
Namibia is the world’s fifth-largest producer of uranium. The Chinese owned Husab uranium mine in expected to start producing uranium ore in 2017. Once the Husab mine reaches full production, Namibia is expected to become the world’s second-largest producer of uranium. Namibia also produces large quantities of zinc and is a smaller producer of gold and copper. The mining and quarrying sectors employ 2% of the population. Namibia’s economyThe management of money, currency and trade of a nation. The... remains vulnerable to world commodity priceThe amount of money required to purchase something or to bri... fluctuations, and drought.
Namibia normally imports about 50% of its cereal requirements; in drought years food shortages can be a problem in rural areas. A high per capitaFor each person in the population. Per head. An expression o... GDP, relative to the region, hides one of the world’s most unequal income distributions. A priority of the current government is poverty eradication.
A five-year, Millennium Challenge CorporationA large company or a group of companies which is legally aut... compact ended in September 2014. As an upper middle income country, Namibia is ineligible for a second compact. The Namibian economyThe management of money, currency and trade of a nation. The... is closely linked to South Africa with the Namibian dollar pegged one-to-one to the South African rand. Namibia receives 30%-40% of its revenues from the Southern African Customs UnionA group of nations which have agreed to promote free trade, ... (SACU). Volatility in the size of Namibia’s annual SACU allotment complicates budgetAllocation of funds or the estimation of costs for a departm... planning.
Important Details
- Country ISO3 : NAM
- Country Code : 516
- Income Group : Upper middle income
- Lending Category : IBRD
- Region : Sub-Saharan Africa
- Currency Unit: Namibian dollar
- WTO Member : Yes
- TradeThe buying and selling or exchange of goods and services. Th... organisations : WTO, SADC, SACU
- world rank : 81
- Regional Ranking : 8th in Sub-Saharan Africa
