Angola GDP Annual Progress Fee

Angola’s economic system rose by 1.4% over a yr in the past within the third quarter of 2023, following a interval of near-stagnation within the earlier three months. This upturn marked the strongest enlargement since This fall 2022, largely propelled by a major revival within the extraction of diamonds and different minerals sector (+41.7% vs -21.9% in Q2). This notable efficiency was pushed by heightened manufacturing from varied corporations, notably within the diamond sector, contributing a considerable 84.76% to the whole output. Different actions corresponding to Fishing (+15.8% vs +5.6%) and utilities (+4.8% vs +4.9%) additionally supported the general development. Conversely, the all-important oil sector shrank 0.8%, impacted by a complete shutdown of platforms stemming from a malfunction within the gasoline compression system on the Mafumeira Sul platform, which occurred in the midst of the quarter. On a quarterly foundation, the GDP expanded by 1.9% in Q3, essentially the most for the reason that second quarter of 2019, after rising by solely 0.2% within the prior quarter. supply: Instituto Nacional de Estatística, Angola

The Gross Home Product (GDP) in Angola expanded 1.40 % within the third quarter of 2023 over the identical quarter of the earlier yr. GDP Annual Progress Fee in Angola averaged 3.31 % from 2000 till 2023, reaching an all time excessive of 23.20 % within the fourth quarter of 2007 and a report low of -11.80 % within the fourth quarter of 2015. This web page supplies – Angola GDP Annual Progress Fee – precise values, historic information, forecast, chart, statistics, financial calendar and information. Angola GDP Annual Progress Fee – information, historic chart, forecasts and calendar of releases – was final up to date on January of 2024.

The Gross Home Product (GDP) in Angola expanded 1.40 % within the third quarter of 2023 over the identical quarter of the earlier yr. GDP Annual Progress Fee in Angola is predicted to be 1.50 % by the tip of this quarter, in keeping with Buying and selling Economics world macro fashions and analysts expectations. Within the long-term, the Angola GDP Annual Progress Fee is projected to pattern round 1.80 % in 2025, in keeping with our econometric fashions.

Angola is Africa’s second largest oil producer. As such, oil sector accounts for about 47 % of whole GDP, 98 % of export earnings and 75 % of presidency revenues. Inside the non-oil sector the most important share goes to: wholesale and retail gross sales (21 % of whole output), agriculture and fishery (10 %), building (7.7 %) and manufacturing (6 %).