Business & Markets · Credit to private sector · Namibia
Namibia’s credit to private sector fell to 55.1% of GDP in 2024.
55.1% of GDP
2024
Down 1 pp from 2023.
Updated 8 Oct 2026
In plain words
55.1% of GDP
What it is. This measure adds up the loans and other claims that banks and other financial institutions hold on households and firms, then compares the total with a year of national output. Dividing by GDP lets the figure be compared across years as the economy grows. Lending to government is left out, and so are informal loans between individuals.
Neither way is good in itself. A high ratio can mean a deep financial system that gives people and businesses access to funding, and it can also mean heavy debts that leave them exposed to shocks. A low ratio can mean cautious borrowing or tight access to credit. The latest figure, 55.1% of GDP in 2024, is down from 56.1% of GDP a year earlier. It is the lowest level since 2015 and well below the high of 72.8% of GDP in 2020.
Why it matters. At 55.1% of GDP, private borrowing in Namibia is still large relative to the size of the economy, so loan repayments matter for many households and firms. The drop from the 2020 level means private debt has grown more slowly than output, which leaves less debt relative to income across the economy. The next annual reading will show whether the ratio stabilises near this level or keeps falling.
| Period | Credit to private sector · Namibia |
|---|---|
| 2015 | 65.6% of GDP |
| 2016 | 68.6% of GDP |
| 2017 | 65.1% of GDP |
| 2018 | 65.8% of GDP |
| 2019 | 71% of GDP |
| 2020 | 72.8% of GDP |
| 2021 | 68.8% of GDP |
| 2022 | 61.4% of GDP |
| 2023 | 56.1% of GDP |
| 2024 | 55.1% of GDP |
Source: World Bank, World Development Indicators (CC BY 4.0) · Licence: CC BY 4.0
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Strata-AF™ Data, Credit to private sector, Namibia, 2024; source World Bank, World Development Indicators (CC BY 4.0), retrieved 8 Oct 2026; https://data.strata-af.com/business/private-sector-credit/namibia
Data insights · Worked out from the published figures
What this means
Working this out from the published figures…
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Methodology
Domestic credit to the private sector as a share of GDP. Unit: % of GDP.
Source: World Bank, World Development Indicators (series FS.AST.PRVT.GD.ZS), retrieved through the World Bank API and published under CC BY 4.0. Updated annually; the World Bank's own source notes apply.