The economy of Angola advanced by 3.6% year-on-year in the second quarter of 2022, following an upwardly revised 2.8% rise in the previous three-month period. It was the strongest growth rate since the first quarter of 2015, mainly due to a strong rebound in diamonds & other minerals extraction (49.3% vs -38.1% in Q1). Positive contributions also came from transport & storage (33.6% vs 31.3%), construction (6.2% vs 5.8%), agriculture (3.5% vs 3%), manufacturing (2.7% vs 2.6%) and oil extraction (2.2% vs 2.3%). Conversely, steep declines were observed in finance & insurance (-38.8% vs -14.7%), due to the fall in bank earnings from commercial activities; and post & telecommunications (-10.6% vs 2.4%). On a quarterly basis, the GDP rose by 0.5%, after increasing by 1.2% in the previous quarter. The government sees the economy expanding by 2.7% in 2022 supported by growth in the non-oil sector of 3.2% and in the oil sector, including gas, of 2.1%. source: Instituto Nacional de Estatística, Angola
GDP Annual Growth Rate in Angola averaged 3.45 percent from 2000 until 2022, 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 November of 2022.
GDP Annual Growth Rate in Angola is expected to be 3.20 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 2.00 percent in 2023 and 1.80 percent in 2024, according to our econometric models.