Namibia: Trade balance, percent of GDP
* indicates monthly or quarterly data series
| Namibia |
Trade balance as percent of GDP |
|---|---|
| Latest value | -18.30 |
| Year | 2022 |
| Measure | percent |
| Data availability | 1980 - 2022 |
| Average | -7.78 |
| Min - Max | -26.50 - 14.11 |
| Source | The World Bank |
The latest value from 2022 is -18.3 percent, a decline from -18.29 percent in 2021. In comparison, the world average is -4.42 percent, based on data from 149 countries. Historically, the average for Namibia from 1980 to 2022 is -7.78 percent. The minimum value, -26.5 percent, was reached in 2015 while the maximum of 14.11 percent was recorded in 1980.
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* indicates monthly or quarterly data series
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The trade balance for Namibia and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 103.72 | 2021 | percent |
| Trade openness | 109.61 | 2023 | percent |
| Financial openness | -1.242 | 2021 | index points |
| Exports, percent of GDP | 43.41 | 2023 | percent |
| Exports, billion dollars | 5.36 | 2023 | billion U.S. dollars |
| Growth of exports | 14.06 | 2023 | percent |
| Imports, percent of GDP | 66.20 | 2023 | percent |
| Imports, billion dollars | 8.18 | 2023 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 8.18 | 2022 | percent |
| Foreign Direct Investment, billion dollars | 1.06 | 2022 | billion U.S. dollars |
| Portfolio investment inflows, equities | 1.83 | 2023 | million dollars (current) |
| Current account, percent of GDP | -10.30 | 2023 | percent |
| Current account, in dollars | -1.85 | 2023 | billion U.S. dollars |
| Trade balance, percent of GDP | -18.30 | 2022 | percent |
| Trade balance, in dollars | -2.64 | 2023 | billion U.S. dollars |
| Reserves | 2.96 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 0.50 | 2023 | percent |
| Remittances | 61.87 | 2023 | million U.S. dollars |
| Net errors and omissions | 46.44 | 2023 | million USD |
| Foreign exchange reserves | 57.63 | 6/2024 | billion |