Namibia’s economy contracts 1.7 percent in second quarter

A general view of the city and Christ Church in Windhoek, Namibia, February 24, 2017. REUTERS/Siphiwe Sibeko

WINDHOEK (Reuters) – Namibia’s economy shrank by 1.7 percent in the second quarter of this year after a revised contraction of 1.7 percent in the first quarter, the statistics agency said on Thursday.

“The poor performance is mainly attributed to the construction, wholesale and retail trade as well as the fishing sector that all contracted,” statistician general Alex Shimuafeni said in a report.

Reporting by Nyasha Nyaungwa; Writing by Nqobile Dludla; Editing by Matthew Mpoke Bigg


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.