| Share
 

Namibia

Economy

Because of inadequate rainfall, crops are not widely raised and pastoralism forms the backbone of the agricultural sector. Goats and sheep are raised mainly in the south, and cattle are herded chiefly in the north. About half the people make their living by agriculture, mainly from Karakul pelts, livestock, and dairy goods. Millet, peanuts, sorghum, and grapes are grown. Unemployment is high, and much of the agricultural land remains in the hands of several thousand white farmers; this has led to pressure for land redistribution, and the government has gradually transferred ownership to black Namibians through land purchases, some of which have involved expropriation.

The country's few manufactures are made up mostly of processed food. There is an extensive mining industry, run principally by foreign-owned companies. Namibia is a major producer of gem-quality diamonds, the country's principal export; the most significant diamond deposits are offshore. Other important minerals are uranium, lead, zinc, tin, silver, tungsten, and copper. There are significant but yet unexploited natural gas deposits offshore and iron deposits in NW Namibia. Fishing fleets operate in the Atlantic. Unrestricted fishing by commercial companies severely depleted the country's supply of certain types of fish, but stocks are being replenished.

The central part of the country is served by roads and rail lines that are linked with those of South Africa, its largest trading partner. The main exports are diamonds, copper, gold, zinc, lead, uranium, cattle, fish, and Karakul pelts. Foodstuffs, petroleum products, machinery and equipment, and chemicals are imported.

The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.

More on Namibia Economy from Infoplease:

  • Namibia: Economy - Economy Because of inadequate rainfall, crops are not widely raised and pastoralism forms the ...
  • Namibia - Namibia Profile: People, History, Government and Political Conditions, Economy, National Security, Foreign Relations, U.S.-Namibian Relations

See more Encyclopedia articles on: Namibia Political Geography

24 X 7

Private Tutor

Click Here for Details
24 x 7 Tutor Availability
Unlimited Online Tutoring
1-on-1 Tutoring