Namibia

The Republic of Namibia is a country in southwestern Africa, on the Atlantic coast. It is bordered by Angola and Zambia to the north, Botswana to the east, and South Africa to the south. It gained independence from South Africa in 1990, and as such it is one of the youngest nations in the world. Its capital is Windhoek.

Economy

Main article: Economy of Namibia

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The economy is heavily dependent on the extraction and processing of minerals for export. Mining accounts for 20% of the GDP. Namibia is the fourth largest exporter of non-fuel minerals in Africa, and the world's fifth largest producer of uranium. Rich alluvial diamond deposits make Namibia a primary source for gem-quality diamonds. Namibia also produces large quantities of lead, zinc, tin, silver, and tungsten.

Related Topics:
Mineral - Mining - GDP - Africa - Uranium - Diamond - Lead - Zinc - Tin - Silver - Tungsten

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About half of the population depends on agriculture (largely subsistence agriculture) for its livelihood. Namibia must import some of its food. Although per capita GDP is five times the per capita GDP of Africa's poorest countries, the majority of Namibia's people live in pronounced poverty because of large-scale unemployment, the great inequality of income distribution, and the large amount of wealth going to foreigners. The Namibian economy has many close links to South Africa. Agreement has been reached on the privatisation of several more enterprises in coming years, which should stimulate long-run foreign investment.

Related Topics:
Agriculture - Subsistence agriculture - Unemployment - South Africa - Privatisation

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