#JustIn: Namibian economy grows by 4.6%

According to the latest national annual accounts, released by the Namibia Statistics Agency (NSA) this morning, the estimated size of the country’s economy, as measured by the nominal gross domestic product (GDP), for the year 2022 is N$206.2 billion.

This is an expansion of N$22.3 billion compared to the N$183.9 billion recorded in 2021.

However, when considering the effects of price changes, the real GDP of the domestic economy grew strongly by 4.6% in 2022, surpassing the 3.5% growth witnessed in 2021.

This positive trajectory was seen across all primary, secondary, and tertiary industries, which demonstrated improved performance during the period under review, the NSA said.