Namibia's GDP shows increase in first quarter of 2025

NAMPA

2025-06-30

WINDHOEK, 21 November 2023 - Statistician General Alex Shimuafeni (Photo: Andreas Thomas) NAMPA

WINDHOEK, 30 JUN (NAMPA) - The Namibia Statistics Agency (NSA) on Monday announced that the country's Gross Domestic Product (GDP) grew in the first quarter of 2025, reaching N. dollars 62.4 billion.
This reflects an increase of N.dollars 4 billion compared to the N.dollars 58 billion recorded in the same quarter of 2024.
A media release issued on Monday by the Statistician-General, Alex Shimuafeni, said tertiary industries such as Health, Wholesale and Retail Trade and Financial Services Activities are the key contributors to the growth of the economy respectively.
“The growth was primarily driven by the tertiary industries, which registered 5.1 per cent increase. Key contributors to tertiary industries include sectors like Health (11.4 per cent), Wholesale and Retail Trade (6.5 per cent), and Financial Services Activities (6.0 per cent),” Shimuafeni said.
In contrast, the secondary industries, experienced slower growth of 0.7 per cent in real value added, compared to 0.9 per cent increase recorded in the first quarter of 2024.
Shimuafeni further added that the performance is primarily due to the Manufacturing sector, which registered a decline of 1.7 per cent compared to 0.9 per cent decrease witnessed in the same quarter of 2024.
On the other hand, primary industry economic activities such as Agriculture and Fishing slowed in progress, registering a decline of 3.1 per cent in real value added, compared to a 5.9 percent increase recorded in the first quarter of 2024.
“The poor performance is attributed to the ‘Agriculture and Forestry’ and ‘Fishing and Fish processing on board’ sectors that registered declines of 20.1 per cent and 8.7 per cent in real value added, respectively. The performance is primarily due to a significant reduction in total animals marketed and a decrease in volume of fish landed,” he said.
Shimuafeni added that the overall percentage in exports of goods and services grew by 15.6 per cent, while imports increased by 6.2 per cent.
(NAMPA)
FHN/EK/AS

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