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@Namibia:Economy

Economy - overview: The economy is heavily dependent on the extraction
and processing of minerals for export. Mining accounts for 20% of GDP.
Namibia is the fourth-largest exporter of nonfuel minerals in Africa
and the world's fifth-largest producer of uranium. Rich alluvial
diamond deposits make Namibia a primary source for gem-quality
diamonds. Namibia also produces large quantities of lead, zinc, tin,
silver, and tungsten. Half of the population depends on agriculture
(largely subsistence agriculture) for its livelihood. Namibia must
import some of its food. Although per capita GDP is four times the per
capita GDP of Africa's poorer countries, the majority of Namibia's
people live in pronounced poverty because of large-scale unemployment,
the great inequality of income distribution, and the large amount of
wealth going to foreigners. The Namibian economy has close links to
South Africa. GDP growth should improve in 2000-01, because of gains
in the diamond and fish sectors. Agreement has been reached on the
privatization of several more enterprises in coming years, which
should stimulate long-run foreign investment.

GDP: purchasing power parity - $7.1 billion (1999 est.)

GDP - real growth rate: 3% (1999 est.)

GDP - per capita: purchasing power parity - $4,300 (1999 est.)

GDP - composition by sector:
agriculture: 12%
industry: 30%
services: 58% (1998 est.)

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): 8.5% (1999)

Labor force: 500,000

Labor force - by occupation: agriculture 47%, industry 25%, services
28% (1999 est.)

Unemployment rate: 30% to 40%, including underemployment (1997 est.)

Budget:
revenues: $883 million
expenditures: $950 million, including capital expenditures of $NA
(1998)

Industries: meat packing, fish processing, dairy products; mining
(diamond, lead, zinc, tin, silver, tungsten, uranium, copper)

Industrial production growth rate: 10% (1994)

Electricity - production: 1.198 billion kWh (1999)

Electricity - production by source:
fossil fuel: 2%
hydro: 9