Namibia's economic growth experienced a slight deceleration, as the country's GDP growth rate settled at 3.10% in the fourth quarter of 2024. This marks a marginal decrease from the 3.20% growth recorded in the same period the previous year, according to data updated on April 4, 2025.
The year-over-year comparison indicates that while growth momentum remains robust, there are signs of cooling down, as the fourth quarter performance of 2024 reflects a slight decrease in economic expansion from the fourth quarter of 2023. Economists suggest that various global and domestic factors could have contributed to this downturn, although specifics were not detailed in the data.
This latest update signals the importance for policymakers and stakeholders to monitor economic activities closely, ensuring that growth is sustained while addressing any potential challenges that may stymie further development. As Namibia progresses into 2025, maintaining a strategic approach to economic policies will be essential to bolster growth and stability in the coming quarters.
