The Namibian economy is closely linked to that of neighboring South Africa with the exchange rate between the Namibian Dollar and the South African Rand being 1:1. Overall, the economy is highly dependent on the mining and processing of ores and minerals, which is mainly exported all over the world. Rich diamond deposits make Namibia a primary source for these highly sought after gems.
Visitors to Namibian can expect to eat a lot of MEAT. The agricultural sector and especially cattle farming is the second largest contributor to the economy. The agricultural sector has seen more diversification over the past years.
Namibia is well-know for its safe and friendly atmosphere which makes it an ideal travel destination. It is thus no surprise that tourism contributes a whopping 14.5% to the Namibian economy. It is also one of the fastest developing sectors of the economy as the private and public sectors are expanding their services to accommodate the influx of visitors.
Although the economy has seen a slight downward growth during 2016 and 2017, economists are optimistic that the economic growth will steadily improve throughout 2018 and 2019.