Analysis by Region - Emerging Markets - Namibia

Analysis by Region - Emerging Markets - Namibia



Base effects in mining production and mineral exploration as well as the adverse effects of drought conditions will moderate economic growth this year. We expect real GDP growth to slow to 3.2% in 2024 from 4.2% in 2023. Investments in the nascent oil & gas, green hydrogen, and battery mineral industries will help to support economic growth. The recent volatility in the official historical GDP revisions, uncertainty in the global diamond market, and geopolitical events in the Middle East are downside risks to growth this year.


Namibia: growth expectations unchanged but risks piling up
Forecast overview
Recent developments
Short-term outlook
Key drivers of our Short-term Forecast
Economic risk
Economic risk evaluation
Background
Economic development
Structure of the economy
Balance of payments
Policy and politics

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