Namibia: economy grew by 4.2% in 2023

by: Simona Salvi | March 28, 2024

Namibia recorded a growth rate of 4.2% in 2023, compared to 5.3% the previous year. According to data released by the Namibia Statistics Agency (NSA), in nominal terms in 2023 the economy was estimated at 227.8 billion Namibians (around 12 billion US dollars) compared to 205.5 billion recorded in 2022. The mining sector and extractives was the main driver of the economy, contributing 14.4% to gross domestic product (GDP), followed by manufacturing with 11.2% and wholesale trade with 11%.

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