FX.co ★ Namibia GDP Growth Picks Up in Q2

Namibia’s annual economic growth accelerated to 4.8% in Q2 2026—its fastest pace since Q1 2024—up from a revised 3.1% in the previous quarter. Tertiary industries remained the primary driver of expansion, growing by 6.1%, with particularly strong performances in health (17.6%), wholesale and retail trade (9%), and information and communication (8.2%).

Primary industries grew by 3%, supported by robust gains in agriculture and forestry (17.8%) and fishing (2.8%). Within agriculture, the crop subsector expanded by 28.5% on the back of higher maize and millet output, aided by favorable rainfall conditions. Fishing activity also improved, benefiting from an increase in fish landings.

Secondary industries recorded a modest 0.8% increase, underpinned by a 3.9% rise in manufacturing. Diamond cutting and polishing surged by 76.5%, while substantial gains were also seen in leather and leather products (32.9%), paper products, publishing and printing (12.9%), dairy products (12.6%), and meat processing (8.0%).

By contrast, the mining sector contracted by 3.1%, reflecting reduced output in uranium, diamond, and metal ore mining.