Namibia’s economy expanded to N$245.1 billion in 2024, up from N$228.9 billion in 2023, reflecting an expansion of N$16.2 billion, according to the Namibia Statistics Agency (NSA).
“The domestic economy has maintained a growth trend since 2021, recording a 3.7% increase in real value added in 2024, compared to the 4.4% growth seen in 2023,” the NSA reports.
The slower economic performance in 2024 is primarily attributed to a decline in the growth rate of primary industries, which contracted by 1.8%, in stark contrast to growth of 10% recorded in 2023.
The main contributor to this decline was the agriculture, forestry and fishing sector, which shrank by 2.7%.
This contraction was driven by weaker crop farming output and a drop in the production of preserved and prepared fish.
Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for
only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!
