The economy of Angola advanced by 2.2% year-on-year in the fourth quarter of 2021, following an upwardly revised 0.9% rise in the previous three-month period. It was the second consecutive quarter of expansion and at the fastest pace since the last quarter of 2018. The better economic performance was mainly attributed to growth in transportation & storage (39.4%); diamonds & other minerals extraction (20%); fisheries (37.7%); construction (5.3%) and manufacturing (3.2%). By contrast, declines were observed in finance & insurance (-36.3%); oil extraction & refining (-2.8%) and post & telecommunications (-1.7%). On a seasonally adjusted quarterly basis, the GDP rose 1.6%. The Angolan GDP grew 0.7% in 2021, after five consecutive years of recession that began in 2016, helped by higher oil prices. The government predicts a 2.4% expansion in 2022, with the non-oil sector growing by around 3.1% and the oil sector by 1.6%. source: Instituto Nacional de Estatística, Angola
GDP Annual Growth Rate in Angola averaged 3.38 percent from 2000 until 2021, reaching an all time high of 23.20 percent in the fourth quarter of 2007 and a record low of -11.80 percent in the fourth quarter of 2015. This page provides - Angola GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Angola GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.
GDP Annual Growth Rate in Angola is expected to be 1.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Angola GDP Annual Growth Rate is projected to trend around 3.30 percent in 2023 and 3.20 percent in 2024, according to our econometric models.