Economics of Namibia / Economics to countries

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<font color= " #FFFFFF " >Wirtschaft Namibia
<font color= " #FFFFFF " > gross domestic product	US$ 15,78 billion (2005)
<font color= " #FFFFFF " > GROS DOMESTIC PRODUCT (purchasing power)	US$ 5,076 billion (2005)
<font color= " #FFFFFF " > economic growth	(material) 5.7% (2004)
<font color= " #FFFFFF " > GROS DOMESTIC PRODUCT /pro head	US$ 7.800 (2005)
<font color= " #FFFFFF " > GROS DOMESTIC PRODUCT after sector	- Agriculture: 9,3% - Industry: 27,8% - Services: 62,9%
<font color= " #FFFFFF " > employed person	820,000 (2005)
<font color= " #FFFFFF " > unemployment ratio	35.00% 1998
<font color= " #FFFFFF " > population unterh. D. Poverty border	50% (2002)
<font color= " #FFFFFF " > national budget	Incomes: US$ 1.434 billion expenditures: US$ 1.62 billion (2005)
<font color= " #FFFFFF " > national indebtedness	35.6% of the GROS DOMESTIC PRODUCT (2003)
<font color= " #FFFFFF " > export	US$ 2,04 billion f.o.b. (2005)
<font color= " #FFFFFF " > trade partners	EUROPEAN UNION 79%, US 4% (2004)
<font color= " #FFFFFF " > import	US$ 2,35 billion f.o.b. (2005)
<font color= " #FFFFFF " > trade partners	US 50%, EUROPEAN UNION 31% (2004)
<font color= " #FFFFFF " > foreign exchange reserves	US$ 325.200.000 (2003)
<font color= " #FFFFFF " > currency	Namibi dollar (inflation rate: 8% 2003)

The Republic of Namibia is a free free-market economy with main industries in mining industry, fishing (and - processing), as well as agriculture and tourism.

In addition since the independence of the country from the Republic of South Africa in the year 1990, trade and modern services contribute strongly to the resource of the population-poor country.

Economics of Namibia

With a surface of 824.000 km and only 2 million inhabitants (820.000 employed persons) the economy of Namibia is characterized by its width. Namibia nevertheless orders over one of the closest road systems of Africa and modern ports of port whale Bay and port load-cuts.

Fishing & agriculture

Industry & mining industry

With a portion of 20 per cent GROS DOMESTIC PRODUCT and 50 per cent of the export is the mining industry the most important branch of we shank in Namibia. Above all the rich diamond (De Beers; Consolidated dia. moon Mines), natural gas (Kudu gas field) and uranium ore occurrence mine) make Namibia one of the mining industry nations leading world-wide.

In addition the exploitation of the following comes: Lead, gold, copper, magnesium, silver, and zinc as well as a set of minerals and half jewels.

Services

Namibia possesses South African conditions appropriate infrastructure and service offer with Windhuk and Swakopmund as the largest economic centers:

Telecom Namibia developed a far telecommunication system (with 127,400 fixed net, 223.700 portable radio net and 65.000 Internet connections),
Air Namibia offers line flights to 21 airports and 115 airfields in many parts of the country and those
Stock exchange Namibia could develop due to the matured and healthy Wirtschaftstruktur for the secondarymost important stock exchange of Africa (after the Johannisburger stock exchange).

International tourism is an important industry in Namibia and with strongly rising meaning. Namibia has numerous and world-wide singular landscape and nature parks: Safaris, Lodges (guest farms) as well as ecologically compatible Incentivereisen.

For the development of Namibia by the tourism it is problematic that the tourists visit only certain regions and so only small population parts of the additional funds of the tourists profit.

Foreign trade

Most important trade partner is South Africa; an in practice quite noticeable commercial obstacle is the time belt deviating from South Africa - for the duration of five months daily four working hours are lost in the trade.

Namibia is member of the South African customs union (SACCU) (further members: Swaziland, Lesotho, Republic of South Africa and Botswana), whose accounting units cause actually also a monetary union. Relevant it is above all that by the present agreement merchandise of Namibia in South African ports can be dispatched by the tariff of the Republic of South Africa.