The economy of Angola contracted 3.4% year-on-year in the first quarter of 2021, the seventh consecutive quarter of falling economic activity. Decreases were seen in construction (-31.5%); extraction & refining of petroleum (-18.6%); transport & storage (-15.6%); financial intermediation services (-9.9%); and postal & telecommunications (-5.8%). Compared with the previous period, the economy advanced 0.2%. source: Instituto Nacional de Estatística, Angola

GDP Annual Growth Rate in Angola averaged 3.49 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 -12.30 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 - values, historical data and charts - was last updated on September of 2021.

GDP Annual Growth Rate in Angola is expected to be 0.60 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 2.40 percent in 2022 and 2.80 percent in 2023, according to our econometric models.

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Angola GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-3.40 -5.50 23.20 -12.30 2000 - 2021 percent Quarterly

Angola GDP Annual Growth Rate
Angola is Africa’s second largest oil producer. As such, oil sector accounts for about 47 percent of total GDP, 98 percent of export earnings and 75 percent of government revenues. Within the non-oil sector the biggest share goes to: wholesale and retail sales (21 percent of total output), agriculture and fishery (10 percent), construction (7.7 percent) and manufacturing (6 percent).