Namibia GDP Annual Growth Rate

Last Release

Dec 31, 2023

Actual

4.4

Units In

Frequency

Quarterly

Next Release

Sep 19, 2025

Time to Release

2 Months 22 Days 12 Hours

Highest	Lowest	Average	Date Range	Source
21 Sep 2004	-12.4 Sep 2020	3.2 %	1990-2023	N/A

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.

Latest Updates

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.