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View of Navachab gold mine. Mining is the biggest contributor to Namibia's economy in terms of revenue. It accounts for 25% of the country's income. [1] Its contribution to the gross domestic product (10.4% in 2009, 8.5% in 2010, 9.5% in 2011, 12.3% in 2012, 13.2% in 2013, 11.6% in 2014) is also very important and makes it one of the largest economic sectors of the country. [2]
The United Nations Council for Namibia enacted in 1974 a Decree for the Protection of the Natural Resources of Namibia, under which no person or entity could search for, take or distribute any natural resources found in Namibia without the council's permission.
Skorpion Zinc is a zinc mine in the ǁKaras Region of southern Namibia, producing Special High Grade (SHG) zinc. The mine is situated near Rosh Pinah. It was established at a cost of US$450 million by Anglo American in 2003. [2] [3] It is the tenth-largest zinc mine in the world, and the largest employer in Rosh Pinah, providing 1,900 jobs. [4] [5]
Sale of crafts Production and sale of local crafts creates income for local residents, especially women. Crafts are mainly manufactured from natural resources, and these need to be used sustainably if the industry is to continue to grow. NACSO partners provide support in terms of craft development, quality improvement and marketing.
Uranium mining in Namibia is of considerable importance to the national economy. In 2020, Namibia produced 11% of uranium worldwide, ranked as the second largest producer, behind Kazakhstan. [1] [2] Uranium is one of the five mineral resources that were declared "strategic" by the Namibian government in 2011. [3]
Although there is a variety of phosphate minerals in Namibia the most common one is found in sand form pellets on the organic rich muds of the seabed. [4] Those pellets can be found as a continuous layer in the Namibian waters at approximately 180 to 300 meters below the sea level. In the Namibia's case the formation consists of two layers.
Office vacancies climbed more than 5% in six of the top 25 US markets this year, according to CommercialEdge. Sale prices, meanwhile, dropped again, down 9% from the average price in 2023.
Tourism is a major contributor (14.5%) to Namibia's GDP, creating tens of thousands of jobs (18.2% of all employment) directly or indirectly and servicing over a million tourists per annum. [47] The country is among the prime destinations in Africa and is known for ecotourism which features Namibia's extensive wildlife .