In the second quarter of 2024, Namibia's GDP growth experienced a significant slowdown, dropping to 3.50% from a previous figure of 4.70%. The latest data, updated on 20 September 2024, indicate a year-over-year decline, comparing the current economic performance to the same period in the previous year.
The previous indicator for the second quarter had been 4.70%, suggesting a more robust growth trajectory, making the deceleration to 3.50% notable. This change could reflect various underlying economic challenges that Namibia might be facing, impacting sectors across the board. Analysts and policymakers will likely delve into the specifics behind this downturn to devise strategies for stabilizing and boosting the economic growth in the coming quarters.