GDP per capita expected to increase

Phillepus Uusiku
Gross domestic product (GDP) per capita in Namibia (GDP/population) is expected to increase, according to projections by PSG.

With a population of about 2.5 million, Namibia’s nominal GDP in 2021 stood at N$ 181.9 billion. Therefore, GDP per capital stood at N$71 907.

PSG estimated Namibia’s population to have been at 2.6 million in 2022. PSG further estimates the local population to be stagnant at 2.6 million in 2023 and 2024, before increasing to 2.7 million in 2025.

Namibia’s nominal gross domestic product is estimated at N$197.2 billion in 2022.

In addition, nominal GDP is estimated at N$211.7 billion, N$227.6 billion and N$245.2 billion in 2023, 2024 and 2025, respectively.

Looking at the projections, gross domestic product is expected to grow at a fast pace relative to the population. Hence, GDP per capita is expected to [email protected]