The economy of Namibia shrank 6.5 percent year-on-year in the first quarter of 2021, following a downwardly revised 5.9 percent decline in the previous three-month period. It was the fifth consecutive quarter of declines in the GDP amid the ongoing pandemic crisis. The poor performance was observed across the major sectors of the economy, namely construction (-23.9 percent), manufacturing (-22.3 percent), mining and quarrying (-19.0 percent), financial services activities (-13.8 percent), hotels and restaurants (-12.0 percent), transport & storage (-8.7 percent) and wholesale and retail (-8.2 percent). source: Central Bureau of Statistics, Namibia
GDP Annual Growth Rate in Namibia averaged 3.16 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 July of 2021.
GDP Annual Growth Rate in Namibia is expected to be 8.00 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 2.30 in 12 months time. In the long-term, the Namibia GDP Annual Growth Rate is projected to trend around 2.40 percent in 2022 and 2.00 percent in 2023, according to our econometric models.