Namibia: Slow Start for Economy in 2011

23 November 2011

NAMIBIA's economy grew by 5,6 per cent during the first three months of 2011, one percentage point less than in the same quarter last year.

According to figures released by the Central Bureau of Statistics (CBS), only five out of 14 economic sectors performed better during the first quarter of this year compared to the same time last year. Manufacturing grew by 12,4 per cent compared to 8,0 per cent; wholesale and retail trade was up 11,8 per cent against 3,9 per cent; and transport and communication was up 7,9 per cent versus 5,3 per cent. Construction contacted 38,8 per cent compared to minus 19 per cent during the first quarter of 2010, while hotels and restaurants contracted 5,7 per cent compared to minus 6,3 per cent.

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