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.
In an age of information overload, Sunrise is The Namibian’s morning briefing, delivered at 6h00 from Monday to Friday. It offers a curated rundown of the most important stories from the past 24 hours – occasionally with a light, witty touch. It’s an essential way to stay informed. Subscribe and join our newsletter community.
The Namibian uses AI tools to assist with improved quality, accuracy and efficiency, while maintaining editorial oversight and journalistic integrity.
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!
