Namibia BIP Veränderung zum Vorjahr

The economy of Namibia advanced by 3.1% year-on-year in the fourth quarter of 2024, following an upwardly revised 3.2% rise in the previous three-month period. This marked the weakest expansion since a contraction (-3.5%) was recorded in Q1 2021, as output growth slowed in activities such as financial services (3.5% vs 6.4% in Q3); transport & storage (7.9% vs 14.3%); and wholesale and retail trade (6.2% vs 11.7%). Moreover, steep declines were observed in agriculture (-5.9% vs 3.5%) and fishing activities (-9.9% vs -13%). The country's economy grew by 3.7% in 2024, slowing from the 4.4% expansion recorded in 2023. Finance Minister Erica Shafudah stated in her budget speech in late March that Namibia's economy is now expected to experience a modest acceleration, with growth forecasted at 4.5% this year and 4.7% in 2026.