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 June 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.