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Namibia’s GDP grew by 2.7% in 2021

Namibia’s domestic economy rebounded to record a growth of 2.7% in 2021 relative to a contraction of 8% induced by the COVID-19 pandemic, national accounts figures released by the Namibia Statistics Agency show.

In nominal terms, the country’s Gross Domestic Product grew by N$7.7 billion to N$181.9 billion during the reporting period from N$174.2 billion in 2020.

“The positive performance is attributed to the relaxation of restrictive measures imposed during the height of the pandemic and the revival of economic activities across the world. The performance was notably observed in the Primary and Tertiary Industries. Increases in economic activities were observed in the ‘Mining and quarrying’ sector that saw a resurgence in demand that led to resumption of production in the sector,” NSA Statistician-General & CEO Alex Shimuafeni said on Wednesday. 

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Last modified on Saturday, 03 September 2022 09:03

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