The agricultural sector contracted by 1.5 percent during the first three quarters of 2022, compared to the same period in 2021, with the 14.2 percent contraction in 3Q2022 is the largest decline since 2Q2019, research firm, Simonis Storm has said.
The biggest contributors the 3Q2022’s decline include livestock farming (down 18.9 percent y/y) and crop farming coming off a high base, only growing by 2.7 percent y/y in 3Q2022 following an expansion of 10.5 percent y/y in 3Q2021.
“The foot and mouth disease in Botswana and South Africa prevented exports to Namibia’s usual markets in 3Q2022. Weak to moderate growth in crop farming and improved livestock production support a sluggish growth outlook for the agriculture sector,” the firm further said.
During December 2022, total livestock slaughtering contracted by 10.1 percent as butchers lost 12.4 percent market share to export abattoirs. At the same time, livestock exports increased by 7.8 percent on average, with goat live exports increasing 40.7 percent y/y in December 2022, but cattle and sheep contracting by 15.8 percent y/y and 1.5 percent y/y respectively.