Namibia’s economy recorded a slower pace of growth in the first quarter of 2025, expanding by 2.7% year on year compared to 4.8% growth recorded in the same quarter last year.
This marks the 16th consecutive quarter of positive real gross domestic product growth, according to the Bank of Namibia (BoN).
While the economy maintained positive momentum, the moderation in growth reflects mixed performances across key industries.
“The tertiary sector continues to underpin Namibia’s growth, with robust performances in health, finance, trade, tourism, transport and communication,” says BoN director of strategic communication and international relations Kazembire Zemburuka.
However, he cautions that the primary and secondary industries showed signs of strain.
“In the primary industry, mining remained strong due to increased production of uranium, zinc concentrate, and gold,” Zemburuka notes. “But this was offset by lower diamond output and weakening agricultural activity, particularly in livestock marketing and crop production.”
In the secondary industry, the picture was mixed. Construction recorded a modest uptick, offering a slight boost. However, manufacturing declined as cement and blister copper production slumped due to weak demand and operational constraints.
On a more positive note, production of beer and soft drinks rose during the period, and electricity and water output saw slight gains.
Zemburuka highlights improvements on the expenditure side of the economy with strong performances in exports, gross fixed capital formation, and government consumption, which helped support overall growth.
Agricultural output is expected to recover slightly in the second quarter as harvesting progresses. However, BoN remains cautious about broader structural weaknesses, especially in sectors dependent on climatic conditions and commodity prices.
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