Namibia - Market OverviewNamibia - Market Overview
- Namibia has a population of 2.4 million, but with the port of Walvis Bay under expansion, the country is positioning itself as a gateway to the more than 240 million people in the broader southern Africa market.
- Namibia enjoys one of the most stable, peaceful political environments in Africa.
- Primary infrastructure (roads, rail, air, energy and telecommunications) is relatively well developed and modern.
- The economy is mostly export driven. Mining, tourism, fishing and agriculture are Namibia’s key industries.
- While the United States is among Namibia’s top ten trading partners, imports into Namibia are dominated by South Africa, with 70% of the total. In 2015, the U.S. ranked tenth among Namibia’s export destinations. South Africa and the United Kingdom are ranked number one and number two as export destinations respectively, followed by Belgium, Botswana, Spain, Canada and the Netherlands.
- U.S. foreign direct investment in Namibia is minimal.
- The Namibian dollar (N$) is pegged one to one (1:1) to the South African Rand.
- The World Bank ranked Namibia 101 among 189 countries in its 2016 Doing Business Report.
Namibia Trade Development and Promotion