grew most this quarter
Q4 2025
gross domestic product · Q4 2025
N$72.0 bn
What the country produced in three months. Real growth: −0.5% year on year — the first quarter of contraction in 2025.
2025 quarterly nominal gdp
66.2 · 65.2 · 66.4 · 72.0 N$ bn
Country anchor Mining · N$10.1 bn
real growth, year on year
−0.5%
Q1 +3.1% · Q2 +1.9% · Q3 +2.6% · Q4 −0.5%
Quarter’s mover Information · +8.4% YoY
shrank this quarter
What we made, by sector
Mining 15.6%
Wholesale & retail 13.7%
Manufacturing 10.9%
Public admin 9.1%
Financial services 10.0%
Other 40.7%
Shares are of all industries at basic prices (N$65.1 bn). GDP at market prices includes N$6.8 bn in net taxes on products.
Top sectors Q4 2025
Across the currents
Capital
Nominal GDP up to N$72 bn, but real output shrank year-on-year for the first time in 2025. Inflation, not growth, moved the headline.
Trade
Mining anchors both: 16% of Q4 2025 output, 27% of March exports.
Labour
Manufacturing and trade together carry roughly a quarter of output — both labour-heavy. A real contraction puts pressure on hours worked.
Earth
Mining and agriculture together contributed N$14.4 bn of output. The country's ground and water remain the largest single source of value.
People
Per-capita quarterly output around N$26,000 at market prices — before tax, distribution, and the household-versus-business split.
March 2026
trade balance
−N$2.3 bn
Deficit. For every N$100 sold to the world, N$117 was spent buying back.
exports
N$13.2 bn
Top buyer
China
China
imports
N$15.5 bn
Top source
South Africa
South Africa
Top export markets
ChinaUranium
26.7%
South AfricaNon-monetary gold
16.1%
SpainFish
10.9%
ZambiaNickel ores
9.5%
CanadaNickel ores
—
Top import sources
Bahrain, Oman, KuwaitPetroleum oils
16.3%
South Africa, IndiaCommercial vehicles
6.3%
ZambiaNickel ores
5.4%
South Africa, JapanPersonal vehicles
2.8%
China, South AfricaCivil engineering
2.3%
What we sold, by type
Uranium 26.7%
Gold 16.1%
Fish 10.9%
Nickel 9.5%
Other 36.8%
What we bought, by type
Petroleum 16.3%
Vehicles, c. 6.3%
Nickel 5.4%
Vehicles, p. 2.8%
Other 69.2%
sold more than we bought
bought more than we sold
Across the currents
Capital
The deficit pulls on FX reserves and the rand-pegged Namibian dollar.
Trade
Imports outpaced exports by 17%. Uranium and gold did most of the surplus work; petroleum and vehicles, most of the deficit.
Labour
Petroleum imports mean fuel-pricing pressure on transport, retail and household budgets.
Earth
Surplus driven by uranium, gold, fish — what comes from below ground or out of the sea.
People
Wage zones in Erongo and Karas held by mining and fishing strength; urban households absorb the fuel-cost pass-through.
coming soon
Labour.
Namibians at work. Joining a future issue.
coming soon
Earth.
What the country yields. Joining a future issue.
coming soon
People.
Demographics, urbanisation, and migration. Joining a future issue.
What’s next?
Pick the current you’d like to see populated next. We’ll let you know when it lands.