The economy of Angola shrank 0.8% from a year ago in the fourth quarter of 2019, following an upwardly revised 1.2 percent contraction in the previous period which was the sharpest in a year. This was the fourth consecutive quarter of declines in domestic activity prompted by oil extraction & refining (-6.6% vs -8.7% in Q3); diamonds & other minerals extraction (-11.3% vs 52.2%); post & telecommunications (-1.1% vs -0.5%); public administration (-0.2% vs 5.3%) and fishing (-24.9% vs -19.9%). In addition, activity slowed markedly in finance & insurance (0.2% vs 5.2%) and agriculture (0.1% vs 1.1%). More positively, strong growth was recorded in transportation & storage (44.1% vs 2.4%); internal trade (9% vs 8.5%); manufacturing (5.6% vs 0.1%) and utilities (5.7% vs 3.1%). In 2019, the GDP contracted 0.9% compared to a 2% slump a year earlier.
GDP Annual Growth Rate in Angola averaged 4.35 percent from 2000 until 2019, 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 - values, historical data and charts - was last updated on May of 2020. source: Instituto Nacional de Estatística, Angola
GDP Annual Growth Rate in Angola is expected to be -5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Angola to stand at 2.00 in 12 months time. In the long-term, the Angola GDP Annual Growth Rate is projected to trend around 1.50 percent in 2021 and 2.30 percent in 2022, according to our econometric models.