The gross domestic product of Namibia advanced by 5.3% year-on-year in the first quarter of 2022, following an upwardly revised 3.5% rise in the previous period. It was the fourth consecutive quarter of expansion, largely driven by the resurgent mining and quarrying sector which registered robust growth (23.5% vs 30.7% in Q4). Significant increases were also recorded in manufacturing (7.5% vs -5.4%); transport and storage (6.3% vs 3.9%); financial services (5.1% vs -5.2%) and agriculture (5.9% vs 5.4%). On the other hand, construction activity remained subdued (-7.5% vs -18.7%). source: Central Bureau of Statistics, Namibia

GDP Annual Growth Rate in Namibia averaged 3.35 percent from 1990 until 2021, reaching an all time high of 21 percent in the third quarter of 2004 and a record low of -11.50 percent in the second quarter of 2020. This page provides the latest reported value for - Namibia GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Namibia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.

GDP Annual Growth Rate in Namibia is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Namibia GDP Annual Growth Rate is projected to trend around 2.30 percent in 2023 and 2.10 percent in 2024, according to our econometric models.

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Namibia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-04-13 09:00 AM Q4 3.3% 6.3% 2.7%
2022-06-30 09:30 AM Q1 5.3% 3.5% 2.8%
2022-09-23 09:30 AM Q2 5.3%


Related Last Previous Unit Reference
GDP Growth Rate -0.56 2.64 percent Mar 2022
GDP Annual Growth Rate 5.30 3.50 percent Mar 2022
GDP Constant Prices 33994.00 36415.00 NAD Million Mar 2022
Gross National Product 177995.29 173343.23 NAD Million Dec 2021
Gross Fixed Capital Formation 20227.00 19366.00 NAD Million Dec 2021
GDP From Utilities 830.00 795.00 USD Million Mar 2022
GDP From Transport 1087.00 844.00 USD Million Mar 2022
GDP From Services 3114.00 3397.00 USD Million Mar 2022
GDP From Public Administration 3781.00 4321.00 USD Million Mar 2022
GDP From Mining 3647.00 3842.00 USD Million Mar 2022
GDP From Manufacturing 3564.00 3995.00 USD Million Mar 2022
GDP From Construction 609.00 655.00 USD Million Mar 2022
GDP From Agriculture 1017.00 1919.00 USD Million Mar 2022

Namibia GDP Annual Growth Rate
Namibia is a small and relatively open economy that is rich in mineral resources. Services account for around 60 percent of GDP. Within services the most important are wholesale and retail trade (13 percent), public administration and defense (11 percent); education (9 percent) and real estate (8 percent). Mining and quarrying (mainly diamonds and uranium) account for 12.3 percent of the output, manufacturing for 12.3 percent and agriculture and fishing for 9 percent.
Actual Previous Highest Lowest Dates Unit Frequency
5.30 3.50 21.00 -11.50 1990 - 2022 percent Quarterly
2015=100

News Stream
Namibia Economy Gains Traction
The gross domestic product of Namibia advanced by 5.3% year-on-year in the first quarter of 2022, following an upwardly revised 3.5% rise in the previous period. It was the fourth consecutive quarter of expansion, largely driven by the resurgent mining and quarrying sector which registered robust growth (23.5% vs 30.7% in Q4). Significant increases were also recorded in manufacturing (7.5% vs -5.4%); transport and storage (6.3% vs 3.9%); financial services (5.1% vs -5.2%) and agriculture (5.9% vs 5.4%). On the other hand, construction activity remained subdued (-7.5% vs -18.7%).
2022-06-30
Namibia's Economy Loses Steam in Q4
The gross domestic product of Namibia rose by 3.3% year-on-year in the fourth quarter of 2021, following an upwardly revised 6.3% growth in the previous period. It was the third consecutive quarter of expansion after a pandemic-induced recession, although at a slower pace. Growth slowed primarily in mining & quarrying (31.4% vs 52.4% in Q3); hotels & restaurants (6.1% vs 20.1%); transport & storage (3.9% vs 9.5%) and agriculture & forestry (5.3% vs 8.6%). The Namibian economy rebounded to positive growth for the first time in two years, growing by 2.4% in 2021 compared to a contraction of 7.9% recorded in 2020 during the height of COVID-19 pandemic. The improved performance was mainly driven by the primary and tertiary industries that recorded growth rates of 8% and 1.9%, respectively. The secondary industries performance remained weak albeit showing signs of improvement, with a 6.6% slump smaller than a double-digit contraction of 12.1% in 2020.
2022-04-13
Namibia GDP Expands for 2nd Quarter
The economy of Namibia rose by 2.4 percent year-on-year in the third quarter of 2021, following an upwardly revised 3 percent growth in the previous period. It was the second consecutive expansion since a contraction was recorded in the first quarter of 2020. The main contributors to the growth were mining and quarrying (41.9 percent vs -1.5 percent in Q2) and hotels and restaurants (19.5 percent vs 34.3 percent), followed by agriculture & forestry (5.9 percent vs -6.3 percent); transport & storage (5.6 percent vs 1.2 percent); real estate & professional services activities (4.2 percent vs 6 percent) and health (7.3 percent vs 7.4 percent). Meanwhile, declines were seen in manufacturing (-2.6 percent vs 0.1 percent); construction (-43.7 percent vs -14.8 percent); financial service activities (-10.9 percent vs -12.2 percent); and wholesale & retail trade (-0.7 percent vs 19.7 percent).
2021-12-16