Namibia: New businesses registered (number)

Key figures

What the numbers say

In 2024, Namibia's new businesses registered (number) rose 5.1% on 2023 (from 11,533 to 12,117).

Across the 17 yearly changes before that (2007 to 2023), the average change was +10.5% and a typical year strayed about 21.7% from that (the standard deviation). This year's change was 0.2 standard deviations below 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 48.2% in 2008 and the biggest yearly fall was 23.9% in 2017. 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 the straight-line trend is downward, about 574.48 a year. A straight line explains 43% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Namibia had the 66th highest value of the 127 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.

Closest to Namibia in the 2024 ranking

• Azerbaijan — 63rd of 127: 14,215
• Senegal — 64th of 127: 13,136
• Mauritius — 65th of 127: 12,614
• Guatemala — 67th of 127: 11,909
• Cayman Islands — 68th of 127: 11,197
• Burkina Faso — 69th of 127: 10,046

What this measures

New businesses registered are the number of new limited liability corporations (or its equivalent) registered in the calendar year.

Limitations: The definition of entrepreneurship used is limited to the formal sector. Yet, it should be noted that the exclusion of the informal sector is based on the difficulties of quantifying the number of firms that compose it, rather than on its relevance for developing economies. Data collected from economies categorized as offshore financial centers by Eurostat are excluded from the analysis, because registered entities in these countries may not fit the objective of the Entrepreneurship Database aiming at measuring formally registered companies with actual economic activities.

All 19 values

New businesses registered (number) in nearby economies

• Angola — 30,956 (2024)
• Benin — 5,522 (2024)
• Botswana — 21,456 (2024)
• Burkina Faso — 10,046 (2024)
• Burundi — 7,263 (2024)
• Cabo Verde — 7,719 (2024)
• Central African Republic — 258 (2024)
• Chad — 1,391 (2024)
• Comoros — 387 (2024)
• Congo, Dem. Rep. — 6,095 (2024)
• Congo, Rep.

More private sector & trade data for Namibia

• Merchandise trade (% of GDP) — 102.45% (2025)
• Import unit value index (2015 = 100) — 138 (2025)
• Merchandise imports (current US$) — US$8.43 billion (2025)
• Export unit value index (2015 = 100) — 152.1 (2025)
• Merchandise exports (current US$) — US$7.02 billion (2025)
• Insurance and financial services (% of commercial service imports) — 1.88% (2024)
• Computer, communications and other services (% of commercial service imports) — 80.23% (2024)
• Commercial service imports (current US$) — US$2.44 billion (2024)
• Transport services (% of commercial service imports) — 13.22% (2024)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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Questions people ask

What is Namibia's new businesses registered (number)?

12,117 in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2006?

It is up 320% from 2,885 in 2006 (8.3% a year on average, compounded). The highest value was 17,999 in 2016 and the lowest 2,885 in 2006.

How does Namibia rank?

66th highest of 127 economies with data for 2024.

Is the latest change in new businesses registered (number) unusual for Namibia?

In 2024, Namibia's new businesses registered (number) rose 5.1% on 2023 (from 11,533 to 12,117). Across the 17 yearly changes before that (2007 to 2023), the average change was +10.5% and a typical year strayed about 21.7% from that (the standard deviation). This year's change was 0.2 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator IC.BUS.NREG, licensed CC BY 4.0. Original source: Entrepreneurship Database, World Bank (WB), uri: https://www.worldbank.org/en/programs/entrepreneurship 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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