Namibia GDP Annual Growth Rate1990-2019 Data | 2020-2022 Forecast | Calendar

The Namibian gross domestic product shrank 0.8% year-on-year in the third quarter of 2019, following an upwardly revised 2.9% decline in the prior period. This was the fourth straight quarter of economic downturn, mainly attributable to mining (-8.2% vs -24.5 % in Q2), due to lower production of diamonds; electricity & water (-18.9% vs 3.8 %), amid the lingering effects of power shortages in South Africa from which the country imports electricity; transport & storage (-3.3% vs -1.6%) and administrative & support services (-11.8% vs 8.8%). In addition, growth slowed markedly in manufacturing (0.3% vs 5.6%); information & communication (5.2% vs 14.4%) and fishing (1.4% vs 2.9%). Conversely, activity expanded faster in real estate activities (7.5% vs 7%); restaurants & hotels (2.9% vs 0.2%) and financial services (1.5% vs 0.8%). Also, output rebounded in construction (20% vs -0.3%), boosted by roads projects; agriculture (1.5% vs -29.3%) and public administration (0.8% vs -1.3%).

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%).

The Namibian economy contracted 2.0 percent year-on-year in the first quarter of 2019, the most since Q4 2017, after an upwardly revised 1.9 percent decline in the previous period. Main negative contributions came from construction (-27.8% vs -30.6% in Q4); hotels & restaurants (-8.7% vs -4.2%); wholesale & retail trade (-6.7% vs -9.7%); agriculture (-6.7% vs -5.5%); public administration (-1.2% vs -0.4%); transport & communication (-0.5% vs 5.1%) and mining & quarrying (-1.1% vs 5.7%). In addition, output slowed markedly in fishing (1.1% vs 10.8%); electricity & water (2.7% vs 9.6%) and financial intermediation (1.4% vs 2.5%). In contrast, growth accelerated in manufacturing (3.6% vs 3.5%) and education rebounded (1.3% vs -3.2%).

The Namibian economy shrank 1.7 percent in the last quarter of 2018, following a downwardly revised 0.1 percent contraction in the previous period. It was the largest contraction in a year, as output fell in fisheries (-2.6 percent vs 0.7 percent in Q3); and public administration (-0.4 percent vs 1.4 percent). Additionally, output dropped further in wholesale and retail trade (-9.6 percent vs -7.3 percent) and education (-3.9 percent vs -1.3 percent). Also, growth slowed in mining and quarrying (11.1 percent vs 24.8 percent); utilities (7.4 percent vs 11.6 percent) and real estate (0.6 percent vs 1.0 percent). Meanwhile, output contracted less in construction (-31.7 percent vs -32.2 percent); agriculture (-2.1 percent vs -7.6 percent); hotels and restaurants (-5.3 percent vs -10.3 percent) and health (-0.9 percent from -2.8 percent). In addition, output accelerated in financial services (2.5 percent vs 0.7 percent) and rose at the same pace in manufacturing (3.5 percent).