Namibia’s economic growth declined to 3.1 percent in the first quarter of 2015 compared to 5.6 percent recorded in the same period last year, the Namibia Statistics Agency said on Wednesday.


The slow performance was mainly due to wholesale and retail trade that recorded a decline of 2.4 percent in real value added.
This was mainly a function of declining supermarket revenues that slowed down by 2.8 percent in compared to an increase of 35.6 percent in the same quarter of 2014.
Hotels and restaurants, and the fishing sectors also recorded slow growths of 7.1 percent and 2.5 percent, respectively.
Despite this poor performance, the economy showed improvements in agriculture, construction and utility sectors that recorded growth in real value added of 7.4 percent, 26 percent and 7.5 percent, respectively.
The construction sector is estimated to have recorded a growth of 26 percent compared to an increase of 19.4 percent registered in the corresponding quarter of 2014. Enditem


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