China’s economy made a stronger-than-expected start to the year, even as the crisis in its property sector deepened. According to official data, gross domestic product (GDP) expanded by 5.3% in the first three months of 2024, compared to a year earlier. That beat expectations the world’s second largest economy could see growth slow to 4.6%...
Business Reporter THE Namibian economy continued to demonstrate growth during the fourth quarter of 2023, with a real GDP expansion of 4.4%, exceeding the growth rate observed in 4Q2022 (3.3%). According to analysts from Simonis Storm Securities, Halleluya Ndimulunde, this positive growth expansion suggests that underlying economic momentum remained solid. “On an annual basis, 2023...
NAMIBIA’S economy displayed resilience in the third quarter of 2023, largely due to the strength of its primary industries – particularly mining and agriculture. This is according to an overview by Simonis Storm Securities, which says the economy continues to demonstrate growth rates not seen in a decade, as indicated by the latest data for...
In the three months from July to September 2023, retailers and wholesalers saw a 6,1% increase in their activities, earning a total of N$17 billion. This is according to the Namibia Statistics Agency’s gross domestic product (GDP) report released yesterday. According to the report, though businesses made N$1,7 billion more compared to last year, it...
During the third quarter (Q3) of 2023, the Gross Domestic Product (GDP) surged, recording a robust expansion of 7.2%, surpassing the 5.4% growth observed in the corresponding quarter of the previous year, as revealed by the country’s statistics agency on Thursday. Alex Shimuafeni, the statistician-general of the Namibia Statistics Agency, highlighted the economy’s commendable trend,...
Stefanus Nashama The Namibia Statistics Agency (NSA) has recorded the economic expansion of N$6.8 billion of the Gross Domestic Product (GDP) for the third quarter of 2023. NSA Statistician-General, Alex Shimuafeni, announced this yesterday and said the size of the Namibian economy, as quantified by the GDP at current prices, reached N$59.7 billion during the...
Namibia’s 2023 third quarter gross domestic product (GDP) stood at N$38,7 billion compared to N$36,1 billion over the same period in 2022. This is according to the Namibian Statistics Agency’s GDP report released on Thursday. This is a N$2,6 billion growth from last year during the same period. According to the report, GDP expanded by...
**Namibia’s Beef Exports Surge in Q3 2023, Reflecting Robust Agricultural Growth** In the third quarter of 2023, Namibia experienced a substantial increase in beef exports, as reported by the Meat Board of Namibia. The review revealed a notable surge in cattle marketing, with 91,154 cattle marketed during this period, indicating a significant 52.03% rise from...
Vehicle sales got off to a subdued note in the fourth quarter of 2023 with new vehicle sales for October marking the fourth consecutive month of decline, totalling only 922 units – a 12,5% month-on-month (m/m) reduction, following a 4,3% m/m decrease is September. According to Simonis Storm Securities economic researcher Halleluya Ndimulunde, on an...
Shell plans to spend a quarter of its deep-water exploration budget for 2023 and 2024 on its oil and gas discoveries in Namibia’s Orange Basin. “To give you a sense of our belief in Namibia, roughly a quarter of our deepwater exploration spending in 2023 and 2024 will be directed to Namibia. It is a...