Namibia GDP Growth Continues to Slow in Q2

The economy of Namibia advanced by 1.9% year-on-year in Q3 2025, accelerating from a 1.3% expansion in the previous three-month period. Tertiary activities (+4.1%) were the main driver of growth, led by financial services activities (8.4%); wholesale and retail trade (5.5%), education (4.9%), and health (4.7%). At the same time, the industrial sector rose 1.2%, as strong growth in utilities (+12.5%) was offset by declines in construction (-5%) and manufacturing (-1%). Conversely, primary activities witnessed a decrease of 6.9%, amid poor performance in agriculture and forestry (-22.7%) and mining and quarrying (-4.2%). A significant decrease in marketed animals, due to farmer restocking, was observed, along with a decline in diamond and metal ores except uranium ore.

The economy of Namibia expanded by 1.6% year-on-year in Q2 2025, decelerating from an upwardly revised 2.8% advance in the previous period. This marked the slowest pace of growth since a 3.5% contraction observed in Q1 2021, hindered by poor performance in manufacturing (-9.7% vs -1.3% in Q1), fishing activities (-4.4% vs -7.3%) and agriculture & forestry (-3.5% vs -20.1%). At the same time, output slowed markedly in some activities, primarily administrative & support services (0.9% vs 5.7%); health (3% vs 11.4%); transport & storage (1.1% vs 4.6%) and real estate and professional services (1.6% vs 2.1%). On a quarterly basis, the GDP shrank 1.5% in Q2, following a revised 3.1% contraction in the first quarter.

The economy of Namibia grew by 2.7% year-on-year in the first quarter of 2025, the slowest expansion since Q1 2021, easing from an upwardly revised 3.6% in Q4 2024. The slowdown was mainly attributed to a contraction in secondary industries, particularly in manufacturing (-1.7%). Growth also decelerated in primary industries, driven by sharp declines in agriculture and forestry (-20.1%) and fishing and fish processing on board (-8.7%). Meanwhile, tertiary industries remained the key driver of growth, supported by strong performances in health (+11.4%), wholesale and retail trade (+6.5%), financial services activities (+6.0%), and administrative and support services (+5.7%). On a seasonally adjusted quarterly basis, GDP contracted by 3.2% in Q1 2025, following a revised 8.1% expansion in the previous quarter.