Namibian economy experiences slight improvement in tertiary industries amid overall challenge

Namibia Map
Namibia Map

Namibia saw a positive growth of 17.4 percent in the country’s tertiary industries, including information and communication technology, health and real estate activities, amid overall contraction last year, the Namibian Statistics Agency (NSA) said Thursday.

While announcing the Namibia’s final accounts of last year, NSA Statistician General Alex Shimuafeni said in nominal terms, the level of the domestic economy was estimated to be 174.8 billion Namibia dollars (about 11.7 billion U.S. dollars) in 2020 relative to 180.6 billion Namibia dollars in 2019.

“In real terms, the domestic economy was estimated to have recorded a contraction of 8.5 percent compared to a decline of 0.9 percent recorded in 2019,” Shimuafeni said.

According to the NSA, the contraction performance was mainly attributed to the impact of the COVID-19 pandemic on secondary industries which recorded a decline of 13 percent. Enditem

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