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Bank of Namibia to conduct balance of payments comprehensive census

Bank of Namibia to conduct balance of payments comprehensive census

The central bank intends to conduct a Balance of Payments (BoP) Census in order to increase Namibia’s BoP sample size and statistics, an executive said Monday.

A BoP census is a comprehensive count of all organizations and persons residing in Namibia who have foreign assets or liabilities or engage in transactions with non-residents, Bank of Namibia spokesperson Kazembire Zemburuka said in a statement.

The exploratory survey began in June 2021 and will continue until December 2021, he said.

“To perform its function, the bank maintains a database of various economic indicators, gathered from individuals and organizations across the country. In particular, the bank collects data on economic transactions between Namibian resident enterprises and the rest of the world (non-residents) in the form of foreign ownership, foreign assets, and/or liabilities,” he added.

In this regard, Zemburuka said a census which is conducted every ten years shall strengthen the BoP database.

“Stakeholders can be confident that their participation will have an impact, particularly on economic policy formulation and decision-making in the country. In this regard, the Bank is dedicated to conducting a successful census that meets international standards and informs Namibia’s economic development trajectory,” he concluded.


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