Global Competitiveness Report – Namibia ranked 100 out of 140
The World Economic Forum has released its Global Competitiveness Report (GCR) 2018 on 17 October 2018. The GCR 2018 uses a new approach to capture the countries’ readiness for the 4th Industrial Revolution. The new Global Competitiveness Index 4.0 (GCI 4.0) therefore focuses on factors that are relevant for being at the forefront of the […]
September 2018 inflation rate – high oil prices start to bite
The Namibia Statistics Agency has released the Consumer Price Index (CPI) for September 2018 on 11 October 2018. The CPI is being used to calculate the month-on-month (compared to the previous month) and year-on-year (compared to the same month in the previous year) inflation rates. The annual inflation rate rose from 4.4% in August 2018 […]
Private sector credit extension August 2018 – strong demand by businesses
The Bank of Namibia has released selected statistical data for August 2018 that cover among others the extension of credit to the private sector (PSCE). We cover some of the highlights: Total credit extended to the private sector rose by 1.5% from NAD93,409 million in July to NAD94,783 million in August 2018. This is the […]
Fuel price increase Oct. 2018 – Large under-recoveries result in price hikes
The Ministry of Mines and Energy announced on 28 September 2018 a fuel price increase of NAD0.50 per litre for petrol and diesel countrywide with effect of 3 October 2018 midnight. Two factors continue to contribute to the upward price pressure: the depreciation of the Namibia dollar against the US dollar and rising global oil […]
Second quarter 2018 Gross Domestic Product growth – strong headwinds prevail
The Namibia Statistics Agency has released the Gross Domestic Product (GDP) figures for the second quarter 2018 on 20 September 2018. GDP in real terms dropped by 0.2% during the second quarter 2018 compared with the second quarter 2017. It is the ninth consecutive quarter of economic contraction. The last positive economic growth was recorded […]
Second quarter 2018 trade statistics – some worrying trends
The Namibia Statistics Agency (NSA) has released the trade statistics for the second quarter 2018 on 13 September 2018. The trade statistics refer to trade in goods only and exclude the trade in services. Namibia usually achieves a surplus in the trade of services. Herewith a few highlights: The value of exports increased by 19.6% […]
August 2018 inflation rate – inflation eases slightly
The Namibia Statistics Agency has released the Consumer Price Index (CPI) for August 2018 on 13 September 2018. The CPI is being used to calculate the monthly (compared to the previous month) and year-on-year (compared to the same month in the previous year) inflation rates. The annual inflation rate eased slightly from 4.5% in July […]
Fuel price increase Sep. 2018 – National Energy Fund continues to subsidise motorists
The Ministry of Mines and Energy announced a fuel price increase of NAD0.40 per litre for petrol and diesel countrywide on 3 September 2018 with effect of 5 September 2018 midnight. The reason for the price hike is the depreciation of the Namibia dollar against the US dollar. The Namibia dollar depreciated by 6.6% from […]
Private sector credit extension continued to increase in July 2018
The Bank of Namibia has released selected statistical data for July 2018 that cover among others the extension of credit to the private sector (PSCE). Herewith our main findings: Total credit extended to businesses and to individuals amounted to NAD93,409.2 million in July 2018. Overall credit extension grew by 0.3% compared to June 2018 or […]
National Accounts 2017 – Economic contraction slightly stronger
The Namibia Statistics Agency released the final National Accounts for 2017 on 15 August 2018. Gross Domestic Product (GDP) contracted slightly stronger than estimated in the Preliminary National Accounts released in March 2018 – 0.9% rather than 0.8%. It is only the second drop in real GDP since Independence after a contraction by 1.6% in […]