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2023
Economic Complexity
Trade -0.74Rank 98 of 132
2022
Economic Complexity
Research -0.43Rank 78 of 140
2023
Product
Exports | Imports $6.28B | $7.42B124 of 226 |  128 of 226
2023
Per Capita Product
Exports | Imports $2.12k | $2.5k93 of 220 |  122 of 220

About

Overview In 2023, Namibia was the number 145 economy in the world in terms of GDP (current US$), the number 124 in total exports, the number 128 in total imports, the number 129 economy in terms of GDP per capita (current US$) and the number 98 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Namibia are Gold ($1.26B), Diamonds ($984M), Radioactive Chemicals ($844M), Non-fillet Frozen Fish ($385M), and Fish Fillets ($385M), exporting mostly to South Africa ($1.71B), China ($752M), Botswana ($504M), Belgium ($424M), and France ($335M).

Imports The top imports of Namibia are Refined Petroleum ($1.52B), Copper Ore ($306M), Electricity ($207M), Delivery Trucks ($135M), and Packaged Medicaments ($125M), importing mostly from South Africa ($2.68B), China ($669M), India ($500M), United Arab Emirates ($319M), and United States ($239M).

Location Namibia borders Angola, Botswana, South Africa, and Zambia by land.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Namibia.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Gold$1.26B
Top Destination (2023)South Africa$1.71B

In 2023, Namibia exported a total of $6.28B, making it the number 124 exporter in the world. During the last five reported years the exports of Namibia have changed by -$1.78B from $8.06B in 2018 to $6.28B in 2023.

The most recent exports are led by Gold ($1.26B), Diamonds ($984M), Radioactive Chemicals ($844M), Non-fillet Frozen Fish ($385M), and Fish Fillets ($385M). The most common destination for the exports of Namibia are South Africa ($1.71B), China ($752M), Botswana ($504M), Belgium ($424M), and France ($335M).

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Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
Belgium$224M (+ 112%)
India$121M (+ 429%)
China$106M (+ 16.4%)
Fastest Growing Import Markets (2022 - 2023)
India$141M (+ 39.4%)
China$119M (+ 21.8%)
Malaysia$108M (+ 359%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Namibia Exports Services (2020)$242M
Namibia Imports Services (2020)$452M

In 2020, Namibia exported $242M worth of services. The top services exported by Namibia in 2020 were Personal travel ($96.8M), Government services, n.i.e. ($40.4M), Air transport ($25.6M), Construction abroad ($22M), and Business travel ($17.7M).

The top services imported by Namibia in 2020 were Miscellaneous business, professional, and technical services ($139M), Other transport ($100M), Personal travel ($57.2M), Government services, n.i.e. ($51.6M), and Computer and information services ($30.1M).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)-0.74Rank 98 of 132
Economic Complexity (Research)-0.43Rank 78 of 140

Most Specialized Products by RCA Index

Namibia has a high level of specialization in Uranium and Thorium Ore (691), Radioactive Chemicals (160), Wood Charcoal (159), Documents of title (bonds etc) and unused stamps (95.2), and Tin Ores (58.9). Specialization is measured using RCA, an index that takes the ratio between Namibia observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Namibia according to the product complexity index (PCI) are Machinery for sorting, screening, separating, washing, crushing, grinding, mixing or kneading earth,... (0.41), Alloy steel bars, rods, shapes and sections; hollow drill bars and rods,... (0.34), New pneumatic tyres, of rubber (0.27), Fermented beverages, n.e.c. in chapter 22; (e.g. cider, perry, mead, sake) (0.018), and Sulphites; thiosulphates (-0.12). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Namibia according to the relatedness index, were Aluminium Ore (0.15), Raw Cotton (0.13), Cocoa Beans (0.13), Other Oily Seeds (0.12), and Niobium, Tantalum, Vanadium and Zirconium Ore (0.12). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Namibia is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Namibia. These are products that tend to be co-exported with the products that Namibia exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Namibia's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨61st to the 98th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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ECI (Trade) Ranking by Country

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