Economic Policy & Debt · Namibia
Yearly data from 1990 to 2024, from the World Bank.
Namibia's current account balance (% of GDP) was -13.41% in 2024, the latest year in the World Bank's World Development Indicators. That is down 3.98 percentage points from -9.43% in 2014.
| Value | Year | |
|---|---|---|
| Latest | -13.41% | 2024 |
| Five years earlier | -1.76% | 2019 |
| Ten years earlier | -9.43% | 2014 |
| Highest | 13.53% | 2006 |
| Lowest | -16.5% | 2016 |
| Average since 2015 | -8.78% | 2015–2024 |
| First recorded | 0.99% | 1990 |
Over five years it is down 11.65 percentage points from -1.76% in 2019. Since 1990 it is down 14.4 percentage points from 0.99% in 1990.
In 2024, Namibia's current account balance (% of GDP) rose 1.62 percentage points on 2023 (from -15.03% to -13.41%).
Across the 30 yearly changes before that (1994 to 2023), the average change was −0.61 percentage points and a typical year strayed about 5.04 percentage points from that (the standard deviation). This year's change was 0.4 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 12.08 percentage points in 2017 and the biggest yearly fall was 14.73 percentage points in 2021. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 there is no clear straight-line trend: a straight line explains 1% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
In 2024, Namibia had the 27th highest value of the 30 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
| Year | Current account balance (% of GDP) |
|---|---|
| 2024 | -13.41 |
| 2023 | -15.03 |
| 2022 | -12.57 |
| 2021 | -10.75 |
| 2020 | 3.98 |
| 2019 | -1.76 |
| 2018 | -3.55 |
| 2017 | -4.42 |
| 2016 | -16.5 |
| 2015 | -13.76 |
| 2014 | -9.43 |
| 2013 | -8.24 |
| 2012 | -8.58 |
| 2011 | -6.85 |
| 2010 | -3.92 |
| 2009 | -3.54 |
| 2008 | -0.1071 |
| 2007 | 8.46 |
| 2006 | 13.53 |
| 2005 | 4.55 |
| 2004 | 6.75 |
| 2003 | 5.39 |
| 2002 | 2.56 |
| 2001 | 0.2963 |
| 2000 | 4.88 |
| 1999 | -0.7136 |
| 1998 | 4.18 |
| 1997 | 2.17 |
| 1996 | 2.9 |
| 1995 | 4.42 |
| 1994 | 2.33 |
| 1993 | 3.39 |
| 1992 | 1.45 |
| 1991 | 3.51 |
| 1990 | 0.9878 |
Every indicator for Namibia is on the Namibia data page.
World Bank, World Development Indicators, indicator BN.CAB.XOKA.GD.ZS, licensed CC BY 4.0. Original source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF); World Development Indicators Database, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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