Namibia’s GDP contracts by 1.1% in 2019


By Agencies

Namibia’s economy contracted by 1.1% in 2019 compared to growth of 0.7 percent in 2018, as the worst drought in a century took its toll, the central bank said on Thursday.

The contraction was mainly due to its primary industries, which declined by 7.8% in 2019 compared with an increase of 8.5% in 2018, preliminary national accounts figures released by the statistics office showed.