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Economy of Namibia vs Trinidad and Tobago compared: GDP & Debt

Updated on by Georank team

Namibia has a GDP of $13.4B compared to $26.4B for Trinidad and Tobago, ranking 147/197 and 114/197 by economy size, respectively.

Namibia has $9.05B in government debt (63.9% of GDP), compared to $17B (67.2% of GDP) in Trinidad and Tobago.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Namibia
GDP, current $

GDP, constant 2015 $
Trinidad and Tobago
GDP, current $

GDP, constant 2015 $
Year GDP
Namibia Trinidad
Current $ Constant $ Current $ Constant $
1960 - - $535,673,252 $3,630,222,802
1961 - - $584,964,621 $4,139,799,750
1962 - - $619,322,810 $4,253,332,232
1963 - - $678,239,329 $4,491,714,373
1964 - - $711,897,520 $4,834,454,628
1965 - - $736,573,159 $4,867,998,505
1966 - - $723,739,857 $5,065,484,518
1967 - - $761,981,912 $5,168,947,937
1968 - - $758,899,950 $5,438,515,892
1969 - - $779,200,000 $5,587,024,608
1970 - - $821,850,000 $5,784,449,703
1971 - - $896,765,215 $5,844,627,406
1972 - - $1,083,391,758 $6,182,467,140
1973 - - $1,308,785,431 $6,284,874,810
1974 - - $2,042,001,071 $6,524,177,955
1975 - - $2,442,669,825 $6,620,603,046
1976 - - $2,500,424,955 $7,044,662,296
1977 - - $3,138,666,667 $7,687,261,624
1978 - - $3,562,333,458 $8,457,254,686
1979 - - $4,602,416,625 $8,761,662,363
1980 $2,421,990,338 $3,477,739,161 $6,235,833,333 $9,672,070,064
1981 $2,249,908,578 $3,511,523,641 $6,992,083,333 $10,114,780,883
1982 $2,118,710,248 $3,497,544,590 $8,140,416,667 $10,499,073,581
1983 $2,297,400,688 $3,433,768,600 $7,763,750,000 $9,417,634,514
1984 $1,951,260,038 $3,425,634,294 $7,757,083,333 $8,876,035,190
1985 $1,608,237,350 $3,441,535,104 $7,375,918,367 $8,510,394,061
1986 $1,809,048,527 $3,605,602,363 $4,794,444,444 $8,231,324,363
1987 $2,300,068,217 $3,733,737,147 $4,797,777,778 $7,855,829,575
1988 $2,495,094,746 $3,764,097,991 $4,496,910,569 $7,547,902,734
1989 $2,535,135,798 $3,834,060,338 $4,323,058,824 $7,485,261,616
1990 $2,789,921,854 $3,912,561,187 $5,068,000,000 $7,598,226,778
1991 $2,996,869,281 $4,232,045,773 $5,307,905,882 $7,834,714,586
1992 $3,429,521,699 $4,536,302,039 $5,439,552,941 $8,625,470,724
1993 $3,251,188,833 $4,464,649,372 $4,669,491,134 $8,567,756,425
1994 $3,666,503,530 $4,541,882,426 $4,947,181,646 $8,873,383,771
1995 $3,978,514,206 $4,718,971,067 $5,329,217,747 $9,211,451,985
1996 $3,989,163,197 $4,869,568,738 $5,759,570,336 $9,868,640,951
1997 $4,154,989,950 $5,075,069,423 $5,737,771,523 $10,611,044,464
1998 $3,873,109,866 $5,242,119,678 $6,043,686,654 $11,473,145,562
1999 $3,868,551,730 $5,418,741,286 $6,808,982,521 $12,393,844,571
2000 $3,922,232,165 $5,607,973,667 $8,154,342,116 $13,249,188,352
2001 $3,557,341,215 $5,674,032,720 $8,824,849,191 $13,801,483,946
2002 $3,349,169,826 $5,945,742,924 $9,008,298,229 $14,896,867,659
2003 $4,926,439,384 $6,197,830,194 $11,305,459,802 $17,048,122,760
2004 $6,609,205,995 $6,958,275,951 $13,280,291,990 $18,403,457,301
2005 $7,248,374,838 $7,134,269,026 $15,982,389,018 $19,546,116,532
2006 $8,001,779,551 $7,638,888,382 $18,369,361,094 $22,127,779,059
2007 $8,839,536,476 $8,049,405,616 $21,641,620,050 $23,179,780,078
2008 $8,607,431,497 $8,262,699,735 $27,871,587,350 $23,965,977,273
2009 $8,938,847,189 $8,287,154,923 $19,172,165,226 $22,913,456,440
2010 $11,431,412,421 $8,787,636,884 $22,157,920,592 $23,674,922,086
2011 $12,523,359,441 $9,235,045,192 $25,433,007,437 $23,605,233,909
2012 $13,042,053,592 $9,702,493,818 $27,147,349,937 $25,189,164,853
2013 $12,043,307,277 $10,247,261,643 $28,560,536,917 $26,031,643,292
2014 $12,435,430,970 $10,871,578,022 $29,474,180,442 $26,993,607,567
2015 $11,335,161,084 $11,335,161,084 $26,841,143,095 $26,841,143,095
2016 $10,722,018,732 $11,338,991,739 $23,624,333,664 $24,853,971,610
2017 $12,895,153,371 $11,222,512,163 $23,847,765,529 $23,656,360,891
2018 $13,682,019,076 $11,341,464,002 $23,888,910,152 $23,423,221,520
2019 $12,541,928,303 $11,246,291,862 $23,588,037,787 $23,533,735,415
2020 $10,583,748,542 $10,335,184,546 $20,991,339,707 $21,438,575,322
2021 $12,402,486,184 $10,707,646,944 $24,177,305,760 $21,243,057,044
2022 $12,569,449,123 $11,285,723,331 $28,510,328,245 $21,472,954,153
2023 $12,408,271,448 $11,787,126,129 $25,489,373,405 $21,779,397,559
2024 $13,372,354,269 $12,224,610,616 $26,428,963,758 $22,138,889,024

Economic indicators

Namibia Trinidad
Gross domestic product
$13.4B
2024
$26.4B
2024
GDP rank
147/197
2024
114/197
2024
GDP growth
7.77%
2023-2024
3.69%
2023-2024
GDP per capita
$4,413
2024
$19,315
2024
GDP per capita rank
126/197
2024
60/197
2024
GDP per capita, PPP
$11,687
2024
$36,021
2024
Government debt
$9.05B
2024
$17B
2024
Debt-to-GDP ratio
63.9%
2025
67.2%
2025
Government debt per person
$2,988
2024
$12,454
2024
Government debt per person rank
100/185
2024
45/185
2024
Average annual personal income after taxes
$7,325
2025
$11,432
2025
Market capitalization of domestic companies
$2.48B
2024
$3.89B
2001
Income share by richest 10%
47.2%
2015
29.9%
1992
Income share by poorest 10%
1%
2015
2.1%
1992
Government expenditure, % of GDP
39.3%
2025
32.4%
2025
Consumer prices inflation
3.7%
2024-2025
0.53%
2023-2024
Central bank interest rate
6.75%
2025
3.5%
2020
Unemployment rate
19.9%
2018
3.36%
2023
Population
3141364
1372940

GDP per capita in Namibia vs Trinidad and Tobago

Namibia's GDP per capita is $4,413, ranking 126/197, compared to $19,315 in Trinidad and Tobago, ranking 60/197. Adjusted for purchasing power (GDP per capita PPP), Namibia ranks 126th at $11,687, while Trinidad and Tobago ranks 62nd at $36,021.

Namibia
GDP per capita

GDP per capita, PPP
Trinidad and Tobago
GDP per capita

GDP per capita, PPP
Year Current $
Namibia Trinidad
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 - - $634 -
1961 - - $678 -
1962 - - $704 -
1963 - - $756 -
1964 - - $780 -
1965 - - $793 -
1966 - - $768 -
1967 - - $797 -
1968 - - $783 -
1969 - - $795 -
1970 - - $829 -
1971 - - $894 -
1972 - - $1,067 -
1973 - - $1,273 -
1974 - - $1,962 -
1975 - - $2,319 -
1976 - - $2,345 -
1977 - - $2,907 -
1978 - - $3,258 -
1979 - - $4,155 -
1980 $2,468 - $5,559 -
1981 $2,267 - $6,160 -
1982 $2,097 - $7,091 -
1983 $2,214 - $6,690 -
1984 $1,830 - $6,613 -
1985 $1,466 - $6,212 -
1986 $1,599 - $3,985 -
1987 $1,969 - $3,941 -
1988 $2,063 - $3,656 -
1989 $1,967 - $3,482 -
1990 $2,037 $3,875 $4,047 $6,878
1991 $2,117 $4,192 $4,205 $7,274
1992 $2,347 $4,452 $4,277 $8,129
1993 $2,155 $4,345 $3,647 $8,209
1994 $2,356 $4,376 $3,840 $8,631
1995 $2,483 $4,509 $4,115 $9,099
1996 $2,423 $4,612 $4,427 $9,883
1997 $2,460 $4,764 $4,394 $10,769
1998 $2,235 $4,852 $4,613 $11,735
1999 $2,178 $4,961 $5,179 $12,812
2000 $2,157 $5,129 $6,179 $13,953
2001 $1,916 $5,196 $6,657 $14,797
2002 $1,772 $5,433 $6,763 $16,141
2003 $2,569 $5,693 $8,445 $18,743
2004 $3,403 $6,480 $9,871 $20,674
2005 $3,686 $6,767 $12,346 $23,536
2006 $4,017 $7,374 $14,153 $27,393
2007 $4,379 $7,875 $16,607 $29,355
2008 $4,205 $8,125 $21,299 $30,807
2009 $4,303 $8,079 $14,634 $29,602
2010 $5,418 $8,538 $16,815 $30,778
2011 $5,835 $9,002 $19,151 $31,078
2012 $5,943 $9,364 $20,332 $31,883
2013 $5,347 $9,699 $21,305 $31,746
2014 $5,378 $10,365 $21,908 $32,027
2015 $4,774 $10,466 $19,887 $29,825
2016 $4,396 $10,200 $17,449 $28,232
2017 $5,144 $9,888 $17,579 $28,505
2018 $5,309 $9,854 $17,576 $28,680
2019 $4,732 $9,609 $17,293 $29,454
2020 $3,879 $9,354 $15,359 $26,863
2021 $4,413 $9,709 $17,679 $30,425
2022 $4,350 $10,663 $20,874 $32,989
2023 $4,188 $11,251 $18,639 $34,620
2024 $4,413 $11,687 $19,315 $36,021

Spending and national debt comparison

In 2024, Namibia's government spending was $5.34B, accounting for 39.3% of its GDP, while Trinidad and Tobago's spent $8.51B, or 32.4% of GDP.

Debt-to-GDP ratio is 63.9% in Namibia and 67.2% in Trinidad and Tobago, ranking 70/185 and 63/185, respectively.

Namibia
Government spending

Government debt
Trinidad and Tobago
Government spending

Government debt
Year % of GDP
Namibia Trinidad
Government spending Government debt Government spending Government debt
1988 - - 45.3% 65.3%
1989 - - 30.9% 51.9%
1990 30.2% 12.9% 26.9% 47.7%
1991 33% 11.8% 29.6% 49.5%
1992 32.8% 14.1% 28.6% 49.2%
1993 32.4% 17.2% 26.9% 58.8%
1994 28.7% 16.4% 25.4% 52.6%
1995 29.6% 18% 26.2% 50.1%
1996 30.4% 18.7% 27.6% 47%
1997 30.9% 17.7% 27.2% 46.1%
1998 31.3% 19.6% 26.9% 42.8%
1999 31.8% 21.8% 24.1% 42.2%
2000 30.1% 20.9% 23.1% 38.9%
2001 30.7% 24.4% 24.8% 36.6%
2002 29.8% 22.2% 24.4% 37%
2003 31.1% 27.1% 22.2% 30.2%
2004 28.4% 29.2% 22.5% 24.2%
2005 27.7% 26.9% 26.7% 19.8%
2006 27.4% 26.1% 31.6% 16.9%
2007 26.1% 19.4% 25.7% 16.2%
2008 28.4% 19.1% 26.7% 13.5%
2009 32% 15.9% 37% 20.7%
2010 33.5% 16.3% 30.4% 16.8%
2011 38.5% 27.4% 29.4% 26.4%
2012 35% 24.6% 29.5% 21.8%
2013 38.3% 26.1% 31.3% 21.6%
2014 41.8% 27.6% 32.8% 23.5%
2015 43.7% 42.1% 35% 27.1%
2016 41.8% 45.8% 31.9% 35.4%
2017 38.1% 43.8% 30.7% 39.8%
2018 36.3% 48.7% 30.2% 41.5%
2019 37.4% 57.6% 31% 46%
2020 41.5% 64.3% 36% 62.2%
2021 39.3% 69.6% 30.4% 58.5%
2022 36.6% 69.4% 27.1% 51%
2023 37% 67.2% 32.9% 61.1%
2024 39.9% 67.7% 32.2% 64.5%
2025 39.3% 63.9% 32.4% 67.2%

Government deficit by year

In 2024, Namibia's government deficit, the difference between spending and revenue, was -$480M, equivalent to -3.59% of GDP. This compares to Trinidad and Tobago's deficit of -$1.57B, or -5.92% of GDP.

Over the past 35 years, Namibia recorded a fiscal deficit in 31 of those years, while Trinidad and Tobago ran a deficit in 22 years. On average, Namibia posted an annual deficit equal to -3.06% of GDP, compared to deficit of -1.96% of GDP for Trinidad and Tobago.

Deficit/surplus
Namibia

Trinidad and Tobago
Year Deficit/surplus, % of GDP
Namibia Trinidad
1988 - -9.34%
1989 - -4.46%
1990 1.08% -1.27%
1991 -1.59% -0.21%
1992 -2.55% -2.74%
1993 -2.73% 0.23%
1994 -0.57% -0.02%
1995 -1.74% 0.17%
1996 -3.7% -0.45%
1997 -2.38% 0.11%
1998 -2.76% -1.8%
1999 -1.88% -0.88%
2000 -0.79% 0.17%
2001 -2.01% 0.61%
2002 -1.38% -0.2%
2003 -4.47% 1.8%
2004 -2.67% 1.84%
2005 -0.31% 2.36%
2006 3.41% 1.56%
2007 6.01% 3.12%
2008 3.48% 5.39%
2009 -0.4% -5.42%
2010 -4.98% 0.13%
2011 -7.09% -0.67%
2012 -3.1% -1.26%
2013 -4.69% -2.67%
2014 -6.44% -4.31%
2015 -8.3% -7.56%
2016 -9.3% -10.1%
2017 -4.99% -10.4%
2018 -5.09% -5.89%
2019 -5.49% -3.72%
2020 -8.07% -12.1%
2021 -8.68% -8.1%
2022 -6.33% 0.92%
2023 -3.14% -1.19%
2024 -3.59% -5.92%
2025 -5.24% -3.39%

Inflation comparison by year

Over the past 29 years, Namibia has recorded an average annual inflation rate of 6.38%, compared with 4.83% in Trinidad and Tobago. In 2024, inflation was 3.7% in Namibia and 0.53% in Trinidad and Tobago.

Inflation
Namibia

Trinidad and Tobago
Year Inflation
Namibia Trinidad Namibia Trinidad
1996 8.7% 3.4%
1997 9.7% 3.63%
1998 6.6% 5.61%
1999 9.4% 3.44%
2000 10.2% 3.56%
2001 10.2% 5.54%
2002 12.7% 4.15%
2003 7.2% 3.81%
2004 4.1% 3.72%
2005 2.3% 6.87%
2006 5% 8.33%
2007 6.5% 7.89%
2008 9.1% 12%
2009 9.5% 6.98%
2010 4.9% 10.5%
2011 5% 5.11%
2012 6.7% 9.26%
2013 5.6% 5.2%
2014 5.3% 5.68%
2015 3.4% 4.66%
2016 6.7% 3.07%
2017 6.1% 1.88%
2018 4.3% 1.02%
2019 3.7% 1%
2020 2.2% 0.6%
2021 3.6% 2.06%
2022 6.1% 5.83%
2023 5.9% 4.63%
2024 4.2% 0.53%
2025 3.7% -

Top exports between countries

Namibia
Export category Export value
Machinery & equipment $8K
Metals $2K
Miscellaneous $1K
Raw materials & minerals $1K
Trinidad
Export category Export value
Machinery & equipment $1.16M
Metals $153K
Textiles & consumer goods $26K
Raw materials & minerals $2K
Chemicals & pharma $1K

Balance of trade

Namibia Trinidad
Current account balance
-$1.92B
2024
$1.23B
2024
Current account balance ranking
140/189
2024
52/189
2024
Current account balance, % of GDP
-14.4%
2024
+4.67%
2024
Goods imports
$6.77B
2024
$7.54B
2024
Goods exports
$4.67B
2024
$10B
2024
Service imports
$2.47B
2024
$2.71B
2024
Service exports
$1.29B
2024
$1.26B
2024
Imports of goods and services, % of GDP
68%
2024
n/a
Exports of goods and services, % of GDP
41.6%
2024
45%
2025

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Namibia Trinidad
Economic freedom 58.7 63.6
Economic freedom ranking 104/197 76/197
Property rights 65 58.3
Government integrity 51.2 44.7
Judicial effectiveness 67.3 58.5
Tax burden 69.4 79.5
Government spending 57.9 74.5
Fiscal health 34.2 80.9
Business freedom 61.9 72.6
Labor freedom 62.9 60.4
Monetary freedom 74.9 76.3
Trade freedom 70 67.6
Investment freedom 50 50
Financial freedom 40 40

Economic freedom by year comparison

The Economic Freedom Index for Namibia is 58.7, ranking 104/197, compared to 63.6 for Trinidad and Tobago, ranking 76/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Namibia
Trinidad and Tobago
Year Economic freedom index
Namibia Trinidad
1996 - 69.2
1997 61.6 71.3
1998 66.1 72
1999 66.1 72.4
2000 66.7 74.5
2001 64.8 71.8
2002 65.1 70.1
2003 67.3 68.8
2004 62.4 71.3
2005 61.4 71.5
2006 60.7 70.4
2007 63.5 70.6
2008 61.4 69.5
2009 62.4 68
2010 62.2 65.7
2011 62.7 66.5
2012 61.9 64.4
2013 60.3 62.3
2014 59.4 62.7
2015 59.6 64.1
2016 61.9 62.9
2017 62.5 61.2
2018 58.5 57.7
2019 58.7 57
2020 60.9 58.3
2021 62.6 59
2022 59.2 58.8
2023 57.7 59.5
2024 57.5 60.4
2025 58.7 63.6

More economic indicators

Namibia Trinidad
Services, % of GDP
54.5%
2024
59.9%
2023
Industry, % of GDP
28.9%
2024
35%
2023
Agriculture, forestry, and fishing, % of GDP
7.29%
2024
0.82%
2023
GNI, Atlas method
$12.8B
2024
$27.4B
2024
GNI per capita, PPP
$11,300
2024
$36,280
2024
Total reserves including gold
$3.36B
2024
$5.6B
2024
Total reserves ranking
115/177
2024
94/177
2024
Net foreign direct investment
-$1.92B
2024
$1.57B
2024
Net inflows of foreign direct investment
$1.96B
2024
-$1.04B
2024
Net outflows of foreign direct investment
$46.1M
2024
$527M
2024
Poverty at national poverty lines
17.4%
2015
20%
2020
Gross capital formation, % of GDP
25.6%
2024
20.1%
2021

GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.