Editing Economy of Namibia (section)

==Regional integration==
The trans-African automobile route - the [[Tripoli-Cape Town Highway]] and the [[Trans-Kalahari Corridor]] pass through Namibia. Given its small domestic market but favourable location and a superb transport and communications base, Namibia is a leading advocate of regional economic integration. In addition to its membership in the [[Southern African Development Community]] (SADC), Namibia presently belongs to the [[Southern African Customs Union]] (SACU) with South Africa, [[Botswana]], [[Lesotho]], and [[Eswatini]]. Within SACU, there is no customs on goods produced in, and being transported amidst, its members.<ref name="USDoS">{{Cite news |title=Mineral production |url=https://cirrus.com.na/ |access-date=2024-02-13 |work=Cirrus Data}}</ref><ref>{{Cite web|title=** Welcome to the SACU Website **|url=https://www.sacu.int/show.php?id=566|website=www.sacu.int|access-date=2020-05-30}}</ref> Namibia is a net receiver of SACU revenues; they are estimated to contribute 13.9&nbsp;billion [[Namibian Dollar|NAD]] in 2012.<ref name="NEdebt">{{cite news
 |url         = http://www.economist.com.na/headlines/874-domestic-debt-above-n-17-bn
 |title       = Domestic debt above N$17 bn
 |last        = Nyaungwa
 |first       = Nyasha Francis
 |date        = 5 April 2012
 |work        = [[Namibia Economist]]
 |url-status     = dead
 |archive-url  = https://web.archive.org/web/20120611085533/http://www.economist.com.na/headlines/874-domestic-debt-above-n-17-bn
 |archive-date = 11 June 2012
 |df          = dmy-all
}}</ref>

The Namibian economy is closely linked to [[Economy of South Africa|South Africa]] with the [[Namibian dollar]] pegged to the [[South African rand]]. Privatisation of several enterprises in coming years may stimulate long-run foreign investment, although with the trade union movement opposed, so far most politicians have been reluctant to advance the issue. In September 1993, Namibia introduced its own currency, the Namibia Dollar (N$), which is linked to the South African Rand at a fixed [[exchange rate]] of 1:1. There has been widespread acceptance of the Namibia Dollar throughout the country and, while Namibia remains a part of the [[Common Monetary Area]], it now enjoys slightly more flexibility in monetary policy although interest rates have so far always moved very closely in line with the South African rates.{{Citation needed|date=January 2021}}

Namibia imports almost all of its goods from South Africa. Many exports likewise go to the South African market, or transit that country.<ref name=USDoS/> Namibia's exports consist mainly of diamonds and other minerals, fish products, beef and meat products, karakul sheep pelts, and light manufactures. In recent years, Namibia has accounted for about 5% of total SACU exports, and a slightly higher percentage of imports.<ref>{{Cite web |title=SACU Statistics Dashboard |url=https://stats.sacu.int/dashboard/default |access-date=2024-03-02}}</ref>

Namibia is seeking to diversify its trading relationships away from its heavy dependence on South African goods and services. Europe has become a leading market for Namibian fish and meat, while mining concerns in Namibia have purchased heavy equipment and machinery from Germany, the United Kingdom, the United States, and Canada. The Government of Namibia is making efforts to take advantage of the American-led [[African Growth and Opportunity Act]] (AGOA), which will provide preferential access to American markets for a long list of products. In the short term, Namibia is likely to see growth in the apparel manufacturing industry as a result of AGOA.<ref>{{Cite web |title=AGOA and Namibia |url=https://agoa.info/images/documents/15555/namibia-agoa-guide-and-trade-overview-.pdf |access-date=2024-03-02 |website=AGOA.info}}</ref>