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Economy of Namibia vs United Arab Emirates compared: GDP & Debt

Updated on by Georank team

Namibia has a GDP of $13.4B compared to $537B for the United Arab Emirates, ranking 147/197 and 29/197 by economy size, respectively.

Namibia has $9.05B in government debt (63.9% of GDP), compared to $172B (32.8% of GDP) in the United Arab Emirates.

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 $
United Arab Emirates
GDP, current $

GDP, constant 2015 $
Year GDP
Namibia UAE
Current $ Constant $ Current $ Constant $
1970 - - $685,986,701 $14,070,592,924
1971 - - $939,893,600 $19,222,171,572
1972 - - $1,415,086,929 $26,734,126,559
1973 - - $4,231,243,616 $47,217,855,776
1974 - - $11,651,505,689 $54,063,519,993
1975 - - $14,720,728,249 $57,430,272,387
1976 - - $19,213,158,779 $66,921,691,096
1977 - - $24,871,775,165 $81,269,253,405
1978 - - $23,775,764,225 $79,977,394,655
1979 - - $31,225,659,621 $96,711,523,271
1980 $2,421,990,338 $3,477,739,161 $43,599,160,050 $119,801,181,765
1981 $2,249,908,578 $3,511,523,641 $49,333,424,135 $125,382,930,480
1982 $2,118,710,248 $3,497,544,590 $46,622,718,605 $116,958,054,939
1983 $2,297,400,688 $3,433,768,600 $42,803,323,345 $111,407,435,357
1984 $1,951,260,038 $3,425,634,294 $41,807,954,236 $115,882,617,757
1985 $1,608,237,350 $3,441,535,104 $40,603,650,232 $111,717,244,274
1986 $1,809,048,527 $3,605,602,363 $33,943,612,095 $95,006,426,309
1987 $2,300,068,217 $3,733,737,147 $36,384,908,744 $98,219,526,270
1988 $2,495,094,746 $3,764,097,991 $36,275,674,203 $95,647,247,530
1989 $2,535,135,798 $3,834,060,338 $41,464,995,914 $107,448,100,944
1990 $2,789,921,854 $3,912,561,187 $50,701,443,748 $127,141,173,341
1991 $2,996,869,281 $4,232,045,773 $51,552,165,622 $128,234,691,621
1992 $3,429,521,699 $4,536,302,039 $54,239,171,888 $132,524,071,346
1993 $3,251,188,833 $4,464,649,372 $55,625,170,253 $134,195,452,934
1994 $3,666,503,530 $4,541,882,426 $59,305,093,980 $143,449,770,720
1995 $3,978,514,206 $4,718,971,067 $65,743,666,576 $153,043,528,513
1996 $3,989,163,197 $4,869,568,738 $73,571,233,996 $161,917,610,698
1997 $4,154,989,950 $5,075,069,423 $78,839,008,445 $175,179,308,497
1998 $3,873,109,866 $5,242,119,678 $75,674,336,283 $175,690,822,167
1999 $3,868,551,730 $5,418,741,286 $84,445,473,111 $180,789,745,171
2000 $3,922,232,165 $5,607,973,667 $104,337,372,362 $200,410,321,466
2001 $3,557,341,215 $5,674,032,720 $103,311,640,572 $203,214,232,287
2002 $3,349,169,826 $5,945,742,924 $109,816,201,498 $208,159,362,863
2003 $4,926,439,384 $6,197,830,194 $124,346,358,067 $226,478,512,549
2004 $6,609,205,995 $6,958,275,951 $147,824,370,320 $248,144,435,950
2005 $7,248,374,838 $7,134,269,026 $180,617,467,965 $260,192,198,684
2006 $8,001,779,551 $7,638,888,382 $222,116,541,865 $285,788,137,283
2007 $8,839,536,476 $8,049,405,616 $257,916,133,424 $294,888,746,643
2008 $8,607,431,497 $8,262,699,735 $315,474,615,739 $304,301,112,625
2009 $8,938,847,189 $8,287,154,923 $253,547,358,747 $288,346,842,937
2010 $11,431,412,421 $8,787,636,884 $300,189,052,689 $292,968,610,444
2011 $12,523,359,441 $9,235,045,192 $360,832,739,551 $311,179,896,154
2012 $13,042,053,592 $9,702,493,818 $384,610,125,391 $316,857,313,566
2013 $12,043,307,277 $10,247,261,643 $400,218,529,748 $332,876,224,084
2014 $12,435,430,970 $10,871,578,022 $414,105,366,753 $346,742,821,790
2015 $11,335,161,084 $11,335,161,084 $370,275,469,571 $370,275,469,571
2016 $10,722,018,732 $11,338,991,739 $369,255,326,236 $390,868,305,597
2017 $12,895,153,371 $11,222,512,163 $390,516,804,030 $393,741,456,224
2018 $13,682,019,076 $11,341,464,002 $427,049,432,158 $398,914,879,875
2019 $12,541,928,303 $11,246,291,862 $417,989,721,743 $403,336,245,504
2020 $10,583,748,542 $10,335,184,546 $349,473,015,330 $383,342,656,333
2021 $12,402,486,184 $10,707,646,944 $415,178,792,757 $400,036,290,964
2022 $12,569,449,123 $11,285,723,331 $502,731,935,194 $430,077,804,445
2023 $12,408,271,448 $11,787,126,129 $514,130,432,648 $445,641,058,044
2024 $13,372,354,269 $12,224,610,616 $537,078,829,135 $462,404,360,915

Economic indicators

Namibia UAE
Gross domestic product
$13.4B
2024
$537B
2024
GDP rank
147/197
2024
29/197
2024
GDP growth
7.77%
2023-2024
4.46%
2023-2024
GDP per capita
$4,413
2024
$49,378
2024
GDP per capita rank
126/197
2024
24/197
2024
GDP per capita, PPP
$11,687
2024
$77,959
2024
Government debt
$9.05B
2024
$172B
2024
Debt-to-GDP ratio
63.9%
2025
32.8%
2025
Government debt per person
$2,988
2024
$15,857
2024
Government debt per person rank
100/185
2024
39/185
2024
Average annual personal income after taxes
$7,325
2025
$40,921
2025
Market capitalization of domestic companies
$2.48B
2024
$1.05T
2024
Number of millionaires n/a
202,201
2024
Number of billionaires n/a
6
2025
Income share by richest 10%
47.2%
2015
20.5%
2018
Income share by poorest 10%
1%
2015
2.8%
2018
Government expenditure, % of GDP
39.3%
2025
24%
2025
Consumer prices inflation
3.7%
2024-2025
1.6%
2024-2025
Central bank interest rate
6.75%
2025
4.15%
2025
Unemployment rate
19.9%
2018
1.88%
2024
Population
3141364
11372700

GDP per capita in Namibia vs United Arab Emirates

Namibia's GDP per capita is $4,413, ranking 126/197, compared to $49,378 in the United Arab Emirates, ranking 24/197. Adjusted for purchasing power (GDP per capita PPP), Namibia ranks 126th at $11,687, while the United Arab Emirates ranks 16th at $77,959.

Namibia
GDP per capita

GDP per capita, PPP
United Arab Emirates
GDP per capita

GDP per capita, PPP
Year Current $
Namibia UAE
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1970 - - $2,394 -
1971 - - $2,805 -
1972 - - $3,675 -
1973 - - $9,696 -
1974 - - $23,823 -
1975 - - $27,117 -
1976 - - $31,197 -
1977 - - $35,020 -
1978 - - $29,379 -
1979 - - $34,238 -
1980 $2,468 - $42,925 -
1981 $2,267 - $44,854 -
1982 $2,097 - $39,972 -
1983 $2,214 - $34,650 -
1984 $1,830 - $32,012 -
1985 $1,466 - $29,468 -
1986 $1,599 - $23,132 -
1987 $1,969 - $23,113 -
1988 $2,063 - $21,570 -
1989 $1,967 - $23,167 -
1990 $2,037 $3,875 $26,710 $86,949
1991 $2,117 $4,192 $25,691 $85,765
1992 $2,347 $4,452 $25,648 $86,019
1993 $2,155 $4,345 $25,033 $84,860
1994 $2,356 $4,376 $25,473 $88,427
1995 $2,483 $4,509 $27,003 $92,107
1996 $2,423 $4,612 $28,323 $93,009
1997 $2,460 $4,764 $27,983 $94,374
1998 $2,235 $4,852 $24,889 $88,693
1999 $2,178 $4,961 $25,856 $86,165
2000 $2,157 $5,129 $29,866 $91,318
2001 $1,916 $5,196 $27,745 $88,832
2002 $1,772 $5,433 $27,754 $86,960
2003 $2,569 $5,693 $29,660 $91,059
2004 $3,403 $6,480 $33,377 $96,982
2005 $3,686 $6,767 $38,719 $99,577
2006 $4,017 $7,374 $44,343 $104,995
2007 $4,379 $7,875 $45,855 $99,097
2008 $4,205 $8,125 $50,054 $93,017
2009 $4,303 $8,079 $37,803 $83,337
2010 $5,418 $8,538 $43,697 $83,671
2011 $5,835 $9,002 $50,789 $87,709
2012 $5,943 $9,364 $52,034 $87,340
2013 $5,347 $9,699 $52,024 $85,515
2014 $5,378 $10,365 $51,381 $85,248
2015 $4,774 $10,466 $43,535 $71,720
2016 $4,396 $10,200 $41,326 $67,702
2017 $5,144 $9,888 $42,341 $68,043
2018 $5,309 $9,854 $45,690 $75,071
2019 $4,732 $9,609 $44,251 $76,885
2020 $3,879 $9,354 $37,174 $65,353
2021 $4,413 $9,709 $43,360 $67,401
2022 $4,350 $10,663 $49,899 $73,778
2023 $4,188 $11,251 $49,041 $76,110
2024 $4,413 $11,687 $49,378 $77,959

Spending and national debt comparison

In 2024, Namibia's government spending was $5.34B, accounting for 39.3% of its GDP, while the United Arab Emirates' spent $125B, or 24% of GDP.

Debt-to-GDP ratio is 63.9% in Namibia and 32.8% in the United Arab Emirates, ranking 70/185 and 156/185, respectively.

Namibia
Government spending

Government debt
United Arab Emirates
Government spending

Government debt
Year % of GDP
Namibia UAE
Government spending Government debt Government spending Government debt
1990 30.2% 12.9% - -
1991 33% 11.8% 36% 4.97%
1992 32.8% 14.1% 29.6% 5.31%
1993 32.4% 17.2% 31.5% 6.01%
1994 28.7% 16.4% 30.1% 5.58%
1995 29.6% 18% 26.1% 5.06%
1996 30.4% 18.7% 27.6% 3.48%
1997 30.9% 17.7% 22.6% 2.86%
1998 31.3% 19.6% 25.8% 4.18%
1999 31.8% 21.8% 24.3% 4.73%
2000 30.1% 20.9% 21.8% 3.12%
2001 30.7% 24.4% 25.2% 2.69%
2002 29.8% 22.2% 21.3% 3.43%
2003 31.1% 27.1% 20% 3.33%
2004 28.4% 29.2% 17.7% 4.08%
2005 27.7% 26.9% 15.7% 4.48%
2006 27.4% 26.1% 15.6% 5.05%
2007 26.1% 19.4% 17.7% 8.89%
2008 28.4% 19.1% 22% 8.95%
2009 32% 15.9% 35% 21.1%
2010 33.5% 16.3% 31.1% 18.8%
2011 38.5% 27.4% 30.3% 20.9%
2012 35% 24.6% 28.4% 20.7%
2013 38.3% 26.1% 29.6% 15.6%
2014 41.8% 27.6% 32.2% 13.8%
2015 43.7% 42.1% 27.2% 16.1%
2016 41.8% 45.8% 32.8% 19.3%
2017 38.1% 43.8% 28.1% 21.9%
2018 36.3% 48.7% 26.7% 21.3%
2019 37.4% 57.6% 28.4% 26.8%
2020 41.5% 64.3% 31.1% 41.3%
2021 39.3% 69.6% 26.4% 36.3%
2022 36.6% 69.4% 23.1% 32.1%
2023 37% 67.2% 23% 32.4%
2024 39.9% 67.7% 23.2% 32.1%
2025 39.3% 63.9% 24% 32.8%

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 the United Arab Emirates' surplus of $25.9B, or 4.83% of GDP.

Over the past 34 years, Namibia recorded a fiscal deficit in 31 of those years, while the United Arab Emirates ran a deficit in 8 years. On average, Namibia posted an annual deficit equal to -3.19% of GDP, compared to surplus of +4.22% of GDP for the United Arab Emirates.

Deficit/surplus
Namibia

United Arab Emirates
Year Deficit/surplus, % of GDP
Namibia UAE
1990 1.08% -
1991 -1.59% 3.89%
1992 -2.55% 3.34%
1993 -2.73% -2.89%
1994 -0.57% -1.78%
1995 -1.74% 3.58%
1996 -3.7% 0.92%
1997 -2.38% 6.71%
1998 -2.76% 1%
1999 -1.88% 1.31%
2000 -0.79% 10.7%
2001 -2.01% 1.21%
2002 -1.38% -1.24%
2003 -4.47% 2.35%
2004 -2.67% 6.4%
2005 -0.31% 16%
2006 3.41% 20.2%
2007 6.01% 17.1%
2008 3.48% 17.6%
2009 -0.4% -6.13%
2010 -4.98% 0.53%
2011 -7.09% 5.17%
2012 -3.1% 8.77%
2013 -4.69% 8.18%
2014 -6.44% 1.79%
2015 -8.3% -6.56%
2016 -9.3% -3.05%
2017 -4.99% -0.16%
2018 -5.09% 3.77%
2019 -5.49% 2.59%
2020 -8.07% -2.47%
2021 -8.68% 4.03%
2022 -6.33% 9.97%
2023 -3.14% 5.91%
2024 -3.59% 4.83%
2025 -5.24% 2.89%

Inflation comparison by year

Over the past 30 years, Namibia has recorded an average annual inflation rate of 6.29%, compared with 2.72% in the United Arab Emirates. In 2025, inflation was 3.7% in Namibia and 1.6% in the United Arab Emirates.

Inflation
Namibia

United Arab Emirates
Year Inflation
Namibia UAE Namibia UAE
1996 8.7% 3%
1997 9.7% 3%
1998 6.6% 2%
1999 9.4% 2.1%
2000 10.2% 1.3%
2001 10.2% 2.8%
2002 12.7% 2.9%
2003 7.2% 3.1%
2004 4.1% 5%
2005 2.3% 6.2%
2006 5% 9.3%
2007 6.5% 11.1%
2008 9.1% 12.3%
2009 9.5% -4.7%
2010 4.9% 0.9%
2011 5% 0.9%
2012 6.7% 0.7%
2013 5.6% 1.1%
2014 5.3% 2.3%
2015 3.4% 4.1%
2016 6.7% 1.6%
2017 6.1% 2%
2018 4.3% 3.1%
2019 3.7% -1.9%
2020 2.2% -2.1%
2021 3.6% -0.1%
2022 6.1% 4.8%
2023 5.9% 1.6%
2024 4.2% 1.7%
2025 3.7% 1.6%

Top exports between countries

Namibia
Export category Export value
Precious metals & jewellery $156M
Metals $15.5M
Raw materials & minerals $8.82M
Machinery & equipment $5.42M
Wood & paper products $2.9M
Raw agricultural goods $2.54M
Animal & marine products $1.66M
Miscellaneous $135K
Chemicals & pharma $86K
Textiles & consumer goods $11K
UAE
Export category Export value
Machinery & equipment $10.9M
Raw materials & minerals $9.43M
Chemicals & pharma $1.98M
Precious metals & jewellery $1.5M
Raw agricultural goods $768K
Metals $764K
Processed food, beverages & tobacco $632K
Textiles & consumer goods $482K
Animal & marine products $327K
Wood & paper products $26K

Balance of trade

Namibia UAE
Current account balance
-$1.92B
2024
n/a
Current account balance ranking
140/189
2024
n/a
Current account balance, % of GDP
-14.4%
2024
n/a
Goods imports
$6.77B
2024
n/a
Goods exports
$4.67B
2024
n/a
Service imports
$2.47B
2024
n/a
Service exports
$1.29B
2024
n/a
Imports of goods and services, % of GDP
68%
2024
93.7%
2023
Exports of goods and services, % of GDP
41.6%
2024
108.6%
2023

Economic freedom indices

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

Namibia UAE
Economic freedom 58.7 71.6
Economic freedom ranking 104/197 29/197
Property rights 65 65.4
Government integrity 51.2 65.9
Judicial effectiveness 67.3 35.2
Tax burden 69.4 96.9
Government spending 57.9 82.3
Fiscal health 34.2 97.9
Business freedom 61.9 84.2
Labor freedom 62.9 62.1
Monetary freedom 74.9 80.5
Trade freedom 70 78.4
Investment freedom 50 50
Financial freedom 40 60

Economic freedom by year comparison

The Economic Freedom Index for Namibia is 58.7, ranking 104/197, compared to 71.6 for the United Arab Emirates, ranking 29/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Namibia
United Arab Emirates
Year Economic freedom index
Namibia UAE
1996 - 71.6
1997 61.6 71.9
1998 66.1 72.2
1999 66.1 71.5
2000 66.7 74.2
2001 64.8 74.9
2002 65.1 73.6
2003 67.3 73.4
2004 62.4 67.2
2005 61.4 65.2
2006 60.7 62.2
2007 63.5 62.6
2008 61.4 62.6
2009 62.4 64.7
2010 62.2 67.3
2011 62.7 67.8
2012 61.9 69.3
2013 60.3 71.1
2014 59.4 71.4
2015 59.6 72.4
2016 61.9 72.6
2017 62.5 76.9
2018 58.5 77.6
2019 58.7 77.6
2020 60.9 76.2
2021 62.6 76.9
2022 59.2 70.2
2023 57.7 70.9
2024 57.5 71.1
2025 58.7 71.6

More economic indicators

Namibia UAE
Services, % of GDP
54.5%
2024
51.6%
2023
Industry, % of GDP
28.9%
2024
47.7%
2023
Agriculture, forestry, and fishing, % of GDP
7.29%
2024
0.7%
2023
GNI, Atlas method
$12.8B
2024
$538B
2024
GNI per capita, PPP
$11,300
2024
$78,110
2024
Total reserves including gold
$3.36B
2024
$238B
2024
Total reserves ranking
115/177
2024
14/177
2024
Net foreign direct investment
-$1.92B
2024
n/a
Net inflows of foreign direct investment
$1.96B
2024
$45.6B
2024
Net outflows of foreign direct investment
$46.1M
2024
$23.4B
2024
Poverty at national poverty lines
17.4%
2015
19.5%
2020
Gross capital formation, % of GDP
25.6%
2024
27.1%
2023

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.