(MENAFN)
A yearly report released by the Namibian central bank on Friday showed that the real gross domestic product (GDP) in Namibia has declined 1.1 percent in the earlier year in comparsion with a 0.7 percent rise in 2018.
The report said that the dim 2019 economic performance resulted from the production loss seen in the industries of mining, agriculture, electricity and water, retail trade and public.
The report said that "The domestic economy is expected to have contracted in 2019 mainly due to slower activity in the primary industry and some sectors in the secondary and tertiary industries."
It has also said that the global reserves stock has posted losses in the nomibal terms but stayed over adequate levels recording an import cover for 4.1 months by the end of December of 2019.
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