The Namibian GDP expanded by 4.3% year-on-year in the third quarter of 2022, slowing from an upwardly revised 6% growth in the previous quarter. On the production side, manufacturing (12.9%), mining (14.9%), and wholesale and retail trade (17.9%) made the biggest upward contribution, while agriculture and forestry (-14.2%) was the biggest drag amid a reduction in livestock marketed for exports due to restrictive measures imposed by South Africa to curtail the spread of Food and Mouth Disease within their borders. On the expenditure side, consumption increased by 9.4%, way below the 20.9% registered a year earlier, as high prices led consumers to reduce spending in anticipation of further increases. Exports were up 14.1% and imports 13.2%. Also, gross fixed capital formation sank by 12.8%. source: Central Bureau of Statistics, Namibia

GDP Annual Growth Rate in Namibia averaged 3.32 percent from 1990 until 2022, reaching an all time high of 21.00 percent in the third quarter of 2004 and a record low of -11.30 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 March of 2023.

GDP Annual Growth Rate in Namibia is expected to be 5.00 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 3.70 percent in 2023 and 2.80 percent in 2024, according to our econometric models.

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Namibia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-09-28 09:30 AM Q2 5.6% 6.5% 6%
2022-12-15 09:30 AM Q3 4.3% 6% 5.8%
2023-04-13 09:00 AM Q4 4.3% 5%


Related Last Previous Unit Reference
GDP Growth Rate -1.45 2.97 percent Sep 2022
GDP Annual Growth Rate 4.30 6.00 percent Sep 2022
GDP Constant Prices 35465.70 36190.70 USD Million Sep 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 837.80 821.20 USD Million Sep 2022
GDP from Transport 887.20 953.80 USD Million Sep 2022
GDP from Services 3014.70 3269.70 USD Million Sep 2022
GDP from Public Administration 4915.40 3880.20 USD Million Sep 2022
GDP from Mining 4018.60 3910.10 USD Million Sep 2022
GDP from Manufacturing 4326.10 4020.00 USD Million Sep 2022
GDP from Construction 479.00 443.90 USD Million Sep 2022
GDP from Agriculture 991.60 2805.70 USD Million Sep 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
4.30 6.00 21.00 -11.30 1990 - 2022 percent Quarterly
2015=100

News Stream
Namibia GDP Growth Slows in Q3
The Namibian GDP expanded by 4.3% year-on-year in the third quarter of 2022, slowing from an upwardly revised 6% growth in the previous quarter. On the production side, manufacturing (12.9%), mining (14.9%), and wholesale and retail trade (17.9%) made the biggest upward contribution, while agriculture and forestry (-14.2%) was the biggest drag amid a reduction in livestock marketed for exports due to restrictive measures imposed by South Africa to curtail the spread of Food and Mouth Disease within their borders. On the expenditure side, consumption increased by 9.4%, way below the 20.9% registered a year earlier, as high prices led consumers to reduce spendings in anticipation of further increases. Exports were up 14.1% and imports 13.2%. Also, gross fixed capital formation sank by 12.8%.
2022-12-16
Namibia GDP Growth Remains Strong in Q2
The economy of Namibia advanced by 5.6% year-on-year in the second quarter of 2022, following an upwardly revised 6.5% rise in the previous period. It was the fifth consecutive quarter of expansion, mainly driven by the key mining & quarrying sector (29.4% vs 21.3% in Q1), with the diamond mining subsector contributing the most (53.7%), followed by metal ores (26.4%) and uranium (3.7%) subsectors. Solid growth was also recorded in financial services activities (16% vs 16.9%); transport and storage (10.5% vs 6.1%) and health (10% vs 8.7%) and hotels & restaurants (8.9% vs 3.7%). Meanwhile, output slowed markedly in manufacturing (3% vs 11.9%); agriculture & forestry (1.9% vs 8.9%) and information & communication (0.2% vs 2.2%), while it contracted in construction (-25.3% vs -7.2%) and public administration (-2.1% vs -2.8%).
2022-09-28
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