TIRI MASAWI
The size of the Namibian economy has expanded from N$58.8 billion recorded in the corresponding quarter of 2024 to N$64.8 billion in the second quarter of this year.
This represents an expansion of about N$6 billion in the period under review.
According to the latest economic figures released by the Namibia Statistics Agency the domestic economy grew in real terms by 1.6% compared to a 3.3% growth registered in the same period last year.
The statistics agency attributed the performance to the tertiary industries that recorded a growth of 3.9 % in real value added,compared to a 5.0% growth recorded in the corresponding period of 2024.
“Tertiary industries were driven by the following sectors compared to the corresponding period of 2024. Wholesale and retail trade grew by 5.2% compared to 9.1%, education 5.6% from 1.0%, financial services activities 5.0% compared to 9.1% and public administration and defence 3.7% in comparison to 4.3%,” Statistician General Alex Shimufeni said.
He said economic activities in the primary industries improved marginally, witnessing an increase of 0.1% in real value added compared to a 2.7% decline recorded in the second quarter of 2024.
“ The growth is attributed to the ‘Agriculture and forestry’ and ‘Fishing and Fish Processing on board’ sectors, which registered declines in real value added of 3.5% and 4.4%, respectively. The declines are reflected in the significant reduction of total animals marketed and a decrease in volume of fish landed.
“ On the other hand, a decline was witnessed in the Secondary industries during the period under review, down by 5.8% in real value added relative to a growth of 2.0% registered in the corresponding quarter of 2024. This performance emanates from the Manufacturing sector that registered a 9.7 % decline in real value added, compared to an increase of 1.2 percent witnessed in the same
quarter of 2024,” Shimufeni said.
The Statistician General said Government Final Consumption Expenditure maintained a positive performance, registering a 4.2% increase during the second quarter of 2025 compared to a growth of 2.6% registered in the corresponding quarter of 2024.
The performance is owed to an increased number of public servants.
“Moreover, Gross Fixed Capital Formation recorded a 5.0 percent increase during the quarter under review, relative to a decrease of 0.6 percent posted in the corresponding quarter of 2024. This is due to increase in investment of ‘Machinery and transport equipment’, and Construction activities. Export of goods and services accelerated during the second quarter of 2025, growing by 18.5 percent, while import of goods and services for the same period declined by 1.6 percent, resulting in the external balance deficit to shrink, an encouraging feat for the economy,” he said.
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