Economic growth and rural poverty context?


Economic growth and rural poverty context?

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safariquestions 2 years 1 Answer 159 views 0

Answer ( 1 )

  1. Namibia is classified as an upper middle-income country with an average per capital income of around USD 4,700 (2012). Overall, in 2012, primary industries accounted for 18.6 % of Gross Domestic Product (GDP), which includes agriculture and forestry (4.1%), fishing and fish processing on board (3%) and mining and quarrying (11.5%).
    The secondary industries accounted for 17.6% (of which 0.3% meat processing and 0.11 fish processing on-shore). The tertiary industries consisting of wholesale and retail trade, hotels and restaurants, transport and communication, financial services, real estate and business services, community, social and personal service activities and government services, accounted for 56.9 percent of GDP.
    Namibia is blessed with rich natural resources, a well-developed physical infrastructure and political stability. Namibia’s economy is linked to that of its major trading partner South Africa, although Europe is increasingly becoming the leading market for fish and meat.

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