Mining accounts for around 11.5% of Namibia's GDP, but provides more than 50% of foreign exchange earnings. Indeed, rich alluvial deposits make Namibia a primary source for gem-quality diamonds.
Namibia is the world's fourth-largest producer of uranium, whilst also producing vast quantities of zinc and is a small producer of gold and other minerals.
The Namibian economy is closely linked to South Africa with the Namibian dollar pegged one-to-one to the South African rand.
Namibian authorities have reacted to the rising cost of mining diamonds and emphasised the need to increase higher value raw materials, manufacturing and services, especially in the logistics and transportation sectors.
Composition of GDP