Economic growth positive in second quarter
Jo-Maré Duddy – Namibia’s economy in the second quarter grew by 1.6% on annual basis, recovering from -6.7% the previous quarter and -11.6% in the same three months in 2020.
Data released by the Namibia Statistics Agency (NSA) this morning shows significant contractions in construction and financial services, with annual growth of -16.9% and -17% respectively. In the second quarter of 2020, these sectors reported growth of -23% and -12.2% respectively.
Annual second-quarter growth for other major sectors were: hotels and tourism 34.3% (2020: -50%); wholesale and retail 17.3% (2020: -25.4%); manufacturing -5% (2020: -27.8%); mining and quarrying -1.5% (2020: -5.1%); and agriculture -6.9% (2020: 67%).
Data released by the Namibia Statistics Agency (NSA) this morning shows significant contractions in construction and financial services, with annual growth of -16.9% and -17% respectively. In the second quarter of 2020, these sectors reported growth of -23% and -12.2% respectively.
Annual second-quarter growth for other major sectors were: hotels and tourism 34.3% (2020: -50%); wholesale and retail 17.3% (2020: -25.4%); manufacturing -5% (2020: -27.8%); mining and quarrying -1.5% (2020: -5.1%); and agriculture -6.9% (2020: 67%).
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