Current account balance in Namibia
Namibia: Current account balance was -13.4% in 2024. ◆ Volatile
Current account balance in Namibia, 1990–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for current account balance in Namibia is -13.4%, measured in 2024.
The figure is up 10.8% on the previous year and down 42.3% over ten years.
Over the whole period, current account balance in Namibia peaked at 13.5% in 2006 and was at its lowest, -16.5%, in 2016.
That places Namibia 176th out of 199 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance in Namibia, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1990 | 1.0% | — |
| 1991 | 3.5% | +255.0% |
| 1992 | 1.5% | -58.6% |
| 1993 | 3.4% | +133.6% |
| 1994 | 2.3% | -31.3% |
| 1995 | 4.4% | +90.0% |
| 1996 | 2.9% | -34.4% |
| 1997 | 2.2% | -25.1% |
| 1998 | 4.2% | +92.1% |
| 1999 | -0.7% | -117.1% |
| 2000 | 4.9% | -784.3% |
| 2001 | 0.3% | -93.9% |
| 2002 | 2.6% | +765.2% |
| 2003 | 5.4% | +110.4% |
| 2004 | 6.8% | +25.2% |
| 2005 | 4.5% | -32.7% |
| 2006 | 13.5% | +197.7% |
| 2007 | 8.5% | -37.5% |
| 2008 | -0.1% | -101.3% |
| 2009 | -3.5% | +3211.3% |
| 2010 | -3.9% | +10.7% |
| 2011 | -6.8% | +74.6% |
| 2012 | -8.6% | +25.3% |
| 2013 | -8.2% | -4.0% |
| 2014 | -9.4% | +14.5% |
| 2015 | -13.8% | +45.9% |
| 2016 | -16.5% | +19.9% |
| 2017 | -4.4% | -73.2% |
| 2018 | -3.6% | -19.7% |
| 2019 | -1.8% | -50.3% |
| 2020 | 4.0% | -325.5% |
| 2021 | -10.7% | -370.1% |
| 2022 | -12.6% | +16.9% |
| 2023 | -15.0% | +19.6% |
| 2024 | -13.4% | -10.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 2.5% | -0.7% | 4.4% | 10 |
| 2000s | 4.3% | -3.5% | 13.5% | 10 |
| 2010s | -7.7% | -16.5% | -1.8% | 10 |
| 2020s | -9.6% | -15.0% | 4.0% | 5 |
Countries ranked near Namibia
- 173 Vanuatu -11.1% compare
- 174 Rwanda -12.0% compare
- 175 Antigua and Barbuda -12.0% compare
- 177 Saint Kitts and Nevis -13.7% compare
- 178 Burundi -13.7% compare
- 179 Sierra Leone -14.1% compare
More economy & growth data for Namibia
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.07 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.64 Percent per annum (2029)
- GDP (constant 2015 US$), annual growth rate 1.73 % change on previous year (2025)
- GDP (constant 2015 US$), per unit of GDP 0.8243 constant 2015 US$ per US$ of GDP (2025)
- GDP (constant 2015 US$), per capita 4,019 constant 2015 US$ per person (2025)
- GDP (constant LCU), annual growth rate 1.73 % change on previous year (2025)
- GDP (constant LCU), per unit of GDP 10.62 constant LCU per US$ of GDP (2025)
- GDP (constant LCU), per capita 51,773 constant LCU per person (2025)
- Gross domestic savings (current US$), annual growth rate -528.21 % change on previous year (2025)
- Gross domestic savings (current US$), per unit of GDP -0.0055 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is current account balance in Namibia?
- Current account balance in Namibia was -13.4% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest current account balance recorded in Namibia?
- The highest recorded value was 13.5% in 2006.
- What is the lowest current account balance recorded in Namibia?
- The lowest recorded value was -16.5% in 2016.
- How does Namibia rank for current account balance?
- Namibia ranks 176th out of 199 countries with data for 2024.
- Is current account balance rising or falling in Namibia?
- Over the last ten years it is down 42.3%. The long-run trend across the full record is volatile.
- Where does this Namibia data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Current account balance (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.