Namibia among Africa’s top 10 most productive economies

Namibia ranks 10th among Africa’s most productive economies, with a labour productivity rate of US$15.6 (about N$274) per hour.

Labour productivity, as defined by the International Labour Organisation (ILO), measures the total volume of output expressed in gross domestic product (GDP) produced per unit of labour.

According to the ILO’s statistics on labour productivity, Namibia’s productivity is primarily supported by its mining sector, with diamonds and uranium playing a crucial role in economic output.

Additionally, agriculture and a steadily growing tourism industry contribute significantly to the country’s economic stability.

“Labour productivity is an important economic indicator that is closely linked to economic growth, competitiveness and living standards within an economy,” the report reads.

It highlights that Libya leads the continent in labour productivity with US$29.8 (about N$545) GDP per hour worked, driven by its vast oil reserves. However, political instability has hampered long-term economic diversification.

Algeria follows closely at US$28.2 (about N$516) per hour, with its hydrocarbon sector fuelling strong economic performance, while Egypt secures third place with US$27.1 (about N$496) per hour, benefiting from a diverse economy spanning tourism, Suez Canal revenues, and industrial activities.

“The indicator allows data users to assess GDP-to-labour input levels and growth rates over time, thus providing general information about the efficiency and quality of human capital in the production process for a given economic and social context, including other complementary inputs and innovations used in production,” the report says.

Other high-ranking nations include Djibouti with US$26.6 (about N$487) per hour, Eswatini with US$25 (about N$457) per hour, and Botswana with US$23.8 (about N$436) per hour, each leveraging unique economic advantages such as trade, manufacturing, and mineral wealth to sustain growth.

South Africa, the continent’s most industrialised nation, ranks seventh with US$21.6 (about N$395) per hour, followed by Tunisia’s US$19.2 (about N$351) per hour, and Equatorial Guinea’s US$18.9 (about N$346) per hour, both benefiting from well-developed industries and natural resource exports.

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