The Namibian economy contracted 2.6 percent year-on-year in the second quarter of 2019, following an upwardly revised 2.9 percent decline in the prior period. Main negative contributions came from mining & quarrying (-20.2% vs -1.0% in Q1) namely diamonds (-34.3%), uranium (-6.4%) and other mining (-5.3%); and agriculture (-28.1% vs -31.4%) as the severe drought which affected crops and livestock production. Output also fell in construction (-5.5% vs -27.8%); wholesale & retail trade (-2.0% vs -7.0%), hotels & restaurants (-2.8% vs -8.7%), transport & communication (-0.9% vs -0.5%); public administration (-2.7% vs -1.2%); education (-0.9% vs 1.3%); health (-2.6% vs 2.4%) and other private services (-0.6% vs -1.1%). In contrast, growth was recorded in manufacturing (18.8% vs 3.6%), boosted by beverages (20.1%), basic metals (54.1%), and diamond processing (22.4%); financial services (1.9% vs 1.4%); utilities (2.7%, the same as in Q1) and fishing (0.7% vs 3.3%). GDP Annual Growth Rate in Namibia averaged 4.04 percent from 1990 until 2019, reaching an all time high of 21 percent in the third quarter of 2004 and a record low of -6.10 percent in the first quarter of 2009.

GDP Annual Growth Rate in Namibia is expected to be -2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Namibia to stand at 0.30 in 12 months time. In the long-term, the Namibia GDP Annual Growth Rate is projected to trend around 1.20 percent in 2020, according to our econometric models.

Namibia GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-12-17 12:00 PM GDP Growth Rate YoY Q3 -0.8% -0.3% 0.5%
2019-03-29 11:50 AM GDP Growth Rate YoY Q4 -1.7% -0.1% -0.2%
2019-06-20 02:55 PM GDP Growth Rate YoY Q1 -2.0% -1.9% -0.6%
2019-09-19 09:30 AM GDP Growth Rate YoY Q2 -2.6% -2.9% -1.5%
2019-12-13 12:30 PM GDP Growth Rate YoY Q3 -2.6% -2.3%


Namibia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.80 -0.57 13.30 -8.80 percent [+]
GDP Annual Growth Rate -2.60 -2.90 21.00 -6.10 percent [+]
GDP 14.52 13.57 14.52 1.61 USD Billion [+]
GDP Constant Prices 25515.00 26788.00 28302.10 10269.00 NAD Million [+]
Gross National Product 180548.92 173754.81 180548.92 1417.00 NAD Million [+]
Gross Fixed Capital Formation 19971.00 23147.00 42913.00 2916.00 NAD Million [+]
GDP per capita 6073.20 6193.20 6412.10 3505.60 USD [+]
GDP per capita PPP 9897.63 10093.23 10449.95 5713.20 USD [+]
GDP From Agriculture 900.90 679.50 1492.00 643.00 USD Million [+]
GDP From Construction 718.10 789.60 1961.10 167.00 USD Million [+]
GDP From Manufacturing 2980.40 2832.90 3378.00 1292.00 USD Million [+]
GDP From Mining 2376.70 2995.10 3024.10 1075.00 USD Million [+]
GDP From Public Administration 2611.70 3265.40 4024.40 839.00 USD Million [+]
GDP From Services 2257.80 2257.80 2257.80 1578.80 USD Million [+]
GDP From Transport 1347.81 1425.24 1594.12 323.00 USD Million [+]
GDP From Utilities 638.00 593.10 638.00 158.60 USD Million [+]


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. 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 - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-2.60 -2.90 21.00 -6.10 1990 - 2019 percent Quarterly




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