http://www.polity.org.za
Deepening Democracy through Access to Information
Home / News / All News RSS ← Back
Construction|Africa|Building|Business|Manufacturing|Mining|Namibia|Tourism|Water|Africa|Manufacturing |Services
Construction|Africa|Building|Business|Manufacturing|Mining|Namibia|Tourism|Water|Africa|Manufacturing |Services
construction|africa-company|building|business|manufacturing|mining|namibia|tourism|water|africa|manufacturing-industry-term|services
Close

Email this article

separate emails by commas, maximum limit of 4 addresses

Verification Image. Please refresh the page if you cannot see this image.

Sponsored by

Close

Article Enquiry

Namibia’s economy could grow by 4,4% in 2010 – economist

Verification Image. Please refresh the page if you cannot see this image.
Close

Embed Video

Namibia’s economy could grow by 4,4% in 2010 – economist

19th November 2009

By: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

SAVE THIS ARTICLE      EMAIL THIS ARTICLE

Font size: -+

The Namibian economy, which would contract by about 1,1% in 2009, would likely grow by 4,4% in 2010 as the mining sector, as well as secondary sectors like the tourism sector, start to recover, Bank of Namibia senior economist Gerson Kadhikwa said on Thursday.

Speaking at an intra-Africa business investment function, in Johannesburg, he noted that the country's mining sector had been the worst affected by the global economic downturn.

Advertisement

Diamond output for 2009 was expected to be down 63% on that of 2008. This would, however, be offset to some extent by an expected increase in uranium output for the year, Kadhikwa said.

Further, its secondary industries were expected to perform better during this year, owing to continued construction activity. The electricity, water and manufacturing sectors would also contribute positively to the country's gross domestic product (GDP), this year.

Advertisement

Namibia's GDP had been growing at around 4% a year for the past five years and stood at about N$79-billion.

With the slowdown in the economy, Namibia was facing challenges in terms of accelerating its economic growth, diversifying the economy, attracting more investment and building its skills capacity, said the economist.

He noted that the country's economy was dominated by the services sector, which contributed about 51% of GDP in 2008, and that the country had to invest more in its manufacturing sector, among others.

Kadhikwa pointed out that the Namibia's savings rates were healthy at around 30% of GDP. Its investment, however, only stood at about 23% of GDP.

He suggested that the country should take some of its savings and invest more on diversifying and growing its economic sectors.

 

EMAIL THIS ARTICLE      SAVE THIS ARTICLE

To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here

Comment Guidelines

About

Polity.org.za is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Mining Weekly
Research Channel Africa

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Polity.org.za is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now