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.

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Angola GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.80 -1.20 23.20 -11.80 2000 - 2019 percent Quarterly
2002=100


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).