People visit the expo of the 4th Industrial Revolution Conference in Windhoek, Namibia, on June 7, 2022. (Photo by Ndalimpinga Iita/Xinhua)
Namibia's economy rebounded and registered a growth of 2.7 percent in 2021 after a contraction of 8 percent induced by the COVID-19 pandemic in 2020, showed the national accounts figures released by the Namibia Statistics Agency (NSA) Wednesday.
WINDHOEK, Sep. 1 (Xinhua) -- Namibia's economy rebounded and registered a growth of 2.7 percent in 2021 after a contraction of 8 percent induced by the COVID-19 pandemic in 2020, showed the national accounts figures released by the Namibia Statistics Agency (NSA) Wednesday.
NSA Statistician-General Alex Shimuafeni said in a statement that the positive performance was attributed to the relaxation of restrictive measures imposed during the height of the pandemic and the revival of economic activities across the world.
An exhibitor showcases products at Namibia's 9th Expo and Conference in Windhoek, on Aug. 31, 2022.(Photo by Musa C Kaseke/Xinhua)
"The performance was notably observed in the primary and tertiary industries. Increases in economic activities were observed in the mining and quarrying sector that saw a resurgence in demand that led to the resumption of production in the sector," he said.
Shimuafeni also said the gradual opening of movement of people between countries has led to improved economic activities in the hotels and restaurants as well as transport and storage sectors during the period under review.
The primary sector recorded a growth rate of 6.2 percent and the tertiary 1.9 percent, while the secondary sector recorded a contraction of 3.3 percent as opposed to double-digit contractions in prior years, he said. ■
