The economy of Angola shrank 0.8 percent year-on-year in Q3 2019, the most in a year, following a 0.1 percent contraction in the previous period. Main negative contributions came from oil extraction and refining (-8.7 percent vs -4.1 percent in Q2), coupled with falling crude oil prices; manufacturing (-1.5 percent vs 1.1 percent); post & telecommunications (-0.5 percent vs -2.1 percent) and fishing (-19.9 percent vs -19.3 percent). Meantime, growth softened in construction (2.8 percent vs 3.5 percent) while it remained stable in real estate activities (at 3 percent) and agriculture (at 1.1 percent). On a more positive note, activity strengthened in extraction of diamonds & other minerals (41.4 percent vs -8.1 percent); public administration (5.2 percent vs 0.4 percent); internal trade (8 percent vs -7.4 percent); transportation & storage (2.4 percent vs -0.8 percent); finance & insurance (6.4 percent vs -17.3 percent) and utilities (3.1 percent vs 2.4 percent). GDP Annual Growth Rate in Angola averaged 4.52 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 -11.70 percent in the fourth quarter of 2015. source: Instituto Nacional de Estatística, Angola

GDP Annual Growth Rate in Angola is expected to be 0.80 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 1.50 in 12 months time. In the long-term, the Angola GDP Annual Growth Rate is projected to trend around 2.80 percent in 2020, according to our econometric models.

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Angola GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.80 -0.10 23.20 -11.70 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).

Angola GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate -0.80 -0.10 23.20 -11.70 percent [+]
GDP 105.75 122.12 145.71 4.44 USD Billion [+]
GDP per capita 3229.60 3409.90 3843.20 1726.30 USD [+]
GDP per capita PPP 5725.33 6044.97 6813.05 3060.34 USD [+]
Gdp Constant Prices 394217.00 365016.00 443991.00 305946.00 AOA Million [+]
GDP From Agriculture 19019.00 21409.00 21716.00 10805.00 AOA Million [+]
GDP From Construction 46962.00 27930.00 54942.00 23501.00 AOA Million [+]
GDP From Manufacturing 16729.00 14972.00 17869.00 9683.00 AOA Million [+]
GDP From Mining 7292.00 6985.00 8230.00 5158.00 AOA Million [+]
GDP From Public Administration 34820.00 23013.00 46488.00 22930.00 AOA Million [+]
GDP From Services 48150.00 46631.00 66156.00 32726.00 AOA Million [+]
GDP From Transport 11629.00 9933.00 12067.00 4979.00 AOA Million [+]
GDP From Utilities 3350.00 3633.00 3858.00 1522.00 AOA Million [+]