Economy performs in first quarter

Namibia's economy grew by 5.3% in the first three months for 2022, compared to -4.9% in the corresponding quarter of last year.

Figures released by the Namibia Statistics Agency (NSA) this morning show mining and quarrying recorded growth of 23.5%, while health expanded by 8.9%, manufacturing by 7.5% and transport and storage by 6.3%.

Construction declined for the third consecutive quarter, registering a contraction of 7.5% in real value added.

Hotels and restaurants - an indication of the performance of tourism - recorded an increase in real value added of 4.4%.

Agriculture and forestry is estimated to have registered a strong growth of 5.9% in real value added.