The economy of Namibia rebounded by 1.6 percent year-on-year in the second quarter of 2021, compared to an upwardly revised 6.7 percent contraction in the previous quarter. It was the first expansion since the last quarter of 2019, helped by the relaxation COVID-19 regulations coupled with the roll-out of COVID-19 vaccines. The main positive performances were observed in hotels & restaurants (34.3 percent vs -10.4 percent in Q1), wholesale and retail (17.3 percent vs -5.2 percent), transport & storage (1.1 percent vs -8.7 percent), administrative & support services (15.6 percent -10.6 percent). Meanwhile, declines were seen in manufacturing (-5 percent vs -20.1 percent), construction (-16.9 percent vs -22 percent), financial service activities (-17 percent vs -9.8 percent), mining (-1.5 percent vs -21.5 percent) and agriculture (-6.9 percent vs -4.4 percent). source: Central Bureau of Statistics, Namibia
GDP Annual Growth Rate in Namibia averaged 3.14 percent from 1990 until 2021, reaching an all time high of 21 percent in the third quarter of 2004 and a record low of -11.90 percent in the third 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 October of 2021.
GDP Annual Growth Rate in Namibia is expected to be 2.00 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 2.20 percent in 2022 and 2.50 percent in 2023, according to our econometric models.