Economy · Current account balance · Namibia
Namibia’s current account balance rose to −13.4% of GDP in 2024.
−13.4% of GDP
2024
Up 1.6 pp from 2023.
Updated 8 Oct 2026
In plain words
−13.4% of GDP
What it is. The current account balance adds up what a country earns from the rest of the world and what it pays out, across trade in goods and services, investment income and transfers such as remittances and aid. A positive figure means the country is a net lender to the world, and a negative figure means it is a net borrower. Dividing by GDP lets years be compared as the economy grows. Because it tracks yearly flows, the stock of foreign debt and the central bank's reserves sit outside it.
Higher is better. A higher balance is better because it shows the economy earning more abroad than it spends, which reduces the need for foreign financing. Namibia's latest figure, for 2024, is −13.4% of GDP, up 1.6 percentage points from −15% of GDP a year earlier. Since 2015 the balance has ranged from a low of −16.5% of GDP in 2016 to a high of 4% of GDP in 2020. The 2024 reading sits much closer to the bottom of that range than to the top, so the deficit remains deep even after the latest improvement.
Why it matters. A deficit of 13.4 per cent of GDP means Namibia has to finance a large gap with foreign investment, borrowing or drawdowns of reserves. Firms that import machinery and fuel depend on those inflows continuing. For the state, a gap this size ties borrowing costs and the strength of foreign reserves to the confidence of external lenders and investors. The smaller deficit in 2024 eases that dependence a little.
| Period | Current account balance · Namibia |
|---|---|
| 2015 | −13.8% of GDP |
| 2016 | −16.5% of GDP |
| 2017 | −4.4% of GDP |
| 2018 | −3.6% of GDP |
| 2019 | −1.8% of GDP |
| 2020 | 4% of GDP |
| 2021 | −10.7% of GDP |
| 2022 | −12.6% of GDP |
| 2023 | −15% of GDP |
| 2024 | −13.4% of GDP |
Source: World Bank, World Development Indicators (CC BY 4.0) · Licence: CC BY 4.0
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Strata-AF™ Data, Current account balance, Namibia, 2024; source World Bank, World Development Indicators (CC BY 4.0), retrieved 8 Oct 2026; https://data.strata-af.com/economy/current-account-balance/namibia
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Methodology
Current account balance as a share of GDP. Unit: % of GDP. A negative value is a deficit.
Source: World Bank, World Development Indicators (series BN.CAB.XOKA.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.