The 2023 GDP composition of Namibia is predominantly led by the services sector (42.56%), with mining, manufacturing, and utilities following at 26.55%. Wholesale trade, restaurants, and hotels account for 14.96%, while agriculture, hunting, forestry, and fishing stand at 6.77%. Transport, storage, and communications contribute 4.81%, and construction rounds off with 4.35%. Over the last two years, the services sector has shown consistent growth with a year-on-year increase, whereas construction has remained relatively stable. The Compound Annual Growth Rate (CAGR) over the past five years indicates a steady increase in the dominance of the services sector.
Future trends to watch include potential growth in the mining sector due to technological advancements and policy shifts, as well as possible expansions in renewable energy within the utilities domain. Enhanced trade agreements could stimulate wholesale and retail trade, positively impacting GDP composition favorably towards these sectors.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 42.56 | 2016 | |
| 2 | 2 Mining, Manufacturing, Utilities | 26.55 | 2016 | |
| 3 | 3 Wholesale, retail trade, restaurants and hotels | 14.96 | 2016 | |
| 4 | 4 Agriculture, hunting, forestry, fishing | 6.77 | 2016 | |
| 5 | 5 Transport, storage and communication | 4.81 | 2016 | |
| 6 | 6 Construction | 4.35 | 2016 |
