{"id":311895,"date":"2021-12-20T20:00:00","date_gmt":"2021-12-20T18:00:00","guid":{"rendered":"https:\/\/informante.web.na\/?p=311895"},"modified":"2021-12-20T12:20:03","modified_gmt":"2021-12-20T10:20:03","slug":"economy-grows-by-n1-1-billion","status":"publish","type":"post","link":"https:\/\/informante.web.na\/?p=311895","title":{"rendered":"Economy grows by N$1.1 billion"},"content":{"rendered":"

Business Reporter<\/p>\n

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THE domestic economy remained in a positive trajectory in the third quarter of 2021, recording a growth of 2.4 % compared to a decline of 12.3 % recorded in the corresponding quarter of 2020.<\/p>\n

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Statistician-General Alex Shimuafeni said the economy increased by N$1.1 billion over a year.<\/p>\n

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The positive growth comes in a time where the Namibian economy has seen subdued growth and a sizeable number of job losses on the back of the Covid-19 pandemic.<\/p>\n

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The statistics were released by the Namibia Statistics Agency (NSA) recently.<\/p>\n

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UPWARD: Statistician-General Alex Shimuafeni. Photo: File<\/figcaption><\/figure><\/div>\n\n\n

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The expansion of economic activities in the third quarter of 2021 was observed in almost all sectors of the economy. Double-digit growth rates were registered in mining and quarrying (41.9%), and hotels and restaurants (19.5%).<\/p>\n

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Other sectors that also showed strong growth during the period under review were health (7.3%); agriculture and forestry (5.9%); transport and storage (5.6%); and real estate and professional services (4.2%).<\/p>\n

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However, decreased economic activities were observed in the secondary and some tertiary industries. The construction sector recorded the deepest contraction, of 43.7%, followed by the financial services sector declining by 10.9 %. The manufacturing sector declined by 2.6 %, and wholesale and retail trade registered a contraction of 0.7%.<\/p>\n

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Shimuafeni stated that investment stood at N$6.0 billion in the quarter under review, down from N$7.7 billion in the corresponding quarter of 2020.<\/p>\n

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In real terms, investment declined by 43.3 % in the third quarter of 2021.<\/p>\n

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For the quarter under review, exports of goods and services stood at N$13.4 billion while imports of goods and services stood at N$21.5 billion, resulting in a trade deficit of N$8.1 billion.<\/p>\n

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In real terms, exports of goods and services increased by 3.4 % while imports of goods and services increased by 6.1 %.<\/p>\n

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<\/div>\n","protected":false},"excerpt":{"rendered":"

Business Reporter THE domestic economy remained in a positive trajectory in the third quarter of 2021, recording a growth of 2.4 % compared to a decline of 12.3 % recorded in the corresponding quarter of 2020. Statistician-General Alex Shimuafeni said the economy increased by N$1.1 billion over a year. The positive growth comes in a …<\/p>\n","protected":false},"author":10,"featured_media":311899,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,24],"tags":[],"class_list":["post-311895","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news"],"yoast_head":"\nEconomy grows by N$1.1 billion - Informant\u00e9<\/title>\n<meta name=\"description\" content=\"THE domestic economy remained in a positive trajectory in the third quarter of 2021, recording a growth of 2.4 % compared to a decline...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/informante.web.na\/?p=311895\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy grows by N$1.1 billion - 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