China’s economy
China’s economy

Namibia’s domestic economy contracted by 11.1 percent in the second quarter this year compared to a decline of 3.6 percent recorded in the corresponding quarter of 2019, the country’s statistics agency said Thursday.

The contraction in the economic performance during the second quarter is observed across the entire sectors as domestic activities were under pressure due to the impact of the COVID-19 measures that were put in place for the country to mitigate the spread of the virus, Namibia Statistic Agency, statistician-general Alex Shimuafeni said.

“The measures entailed among others, closing of the country’s borders and only allowing businesses that provides essential services to operate,” he added.

According to Shimuafeni, double digit reductions were recorded in some of the sectors of the economy. Hotels and restaurants recorded the highest decline of 64.2 percent compared to a growth of 12.3 percent of the same quarter of 2019.

Shimuafeni said, however, of the 16 sectors under observations, three sectors recorded positive performance during the period under review.

The improved performance were observed in agriculture and forestry, information and communication and health sectors that recorded growth rates of 47.2 percent, 11 percent and 6 percent, respectively, he added.

“The positive performance in agriculture and forestry is due to a bumper harvest by the farmers resulting from good rainfalls experienced during the period under review,” he said.

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