Namibia GDP Growth Remains Robust in Q3

The economy of Namibia grew by 2.8% year-on-year in the third quarter of 2024, following a downwardly revised 2.7% gain in the previous three-month period.

This marked the fourteenth consecutive period of expansion, with the largest positive contribution coming from the health sector, which added 0.5 percentage points due to an increase in the number of healthcare personnel.

Additionally, wholesale and retail trade contributed 0.5 percentage points.

In contrast, the largest negative contributions came from mining and quarrying (-0.8 percentage points) and agriculture and forestry (-0.2 percentage points).

On a quarterly basis, the country's economy contracted by 2.03% in the third quarter of 2024, after stalling in the previous three-month period.