The economy of Angola advanced by 3.9% year-on-year in the third quarter of 2022, accelerating from a 3.6% rise in the previous three-month period. This marks the sixth consecutive quarter of economic expansion and at the quickest pace since the first quarter of 2015, driven by the positive performance of activities in the primary sector, such as agriculture (4.7% vs 3.5% in Q2) and fisheries (12.3% vs -8.2%); transportation & storage (25.8% vs 33.6%) and the extraction of diamonds & other minerals (8.3% vs 40.3%). Also, strong growth was recorded in finance & insurance (41.6% vs -38.8%). Meanwhile, the oil sector expanded slightly faster (2.7% vs 2.2%). On the other hand, manufacturing activity slowed markedly (0.8% vs 2.7%) and output declined further in post & telecommunications (-8.1% vs -10.6%). On a quarterly basis, the GDP rose by 0.8%, after increasing by 0.5% in the previous quarter. Angola's economy was stuck in recession between 2016 and 2020, having grown by 1.1% in 2021. source: Instituto Nacional de Estatística, Angola

GDP Annual Growth Rate in Angola averaged 3.46 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 January of 2023.

GDP Annual Growth Rate in Angola is expected to be 2.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Angola GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-10-03 02:00 PM Q2 3.6% 2.8% 2.8%
2023-01-04 11:00 AM Q3 3.9% 3.6% 3.4%
2023-04-10 10:30 AM Q4 3.9% 3.3%


Related Last Previous Unit Reference
GDP Annual Growth Rate 3.90 3.60 percent Sep 2022
GDP from Utilities 3124.00 3351.00 AOA Million Sep 2022
GDP from Transport 7929.00 4484.00 AOA Million Sep 2022
GDP from Services 61088.00 47999.00 AOA Million Sep 2022
GDP from Public Administration 37440.00 23573.00 AOA Million Sep 2022
GDP from Mining 6297.00 8403.00 AOA Million Sep 2022
GDP from Manufacturing 16273.00 14263.00 AOA Million Sep 2022
GDP from Construction 33903.00 16489.00 AOA Million Sep 2022
GDP from Agriculture 23692.00 25664.00 AOA Million Sep 2022
GDP Constant Prices 375163.00 346819.00 AOA Million Sep 2022

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).
Actual Previous Highest Lowest Dates Unit Frequency
3.90 3.60 23.20 -11.80 2000 - 2022 percent Quarterly
2014=100

News Stream
Angola GDP Growth Quickens to 3.9% in Q3
The economy of Angola advanced by 3.9% year-on-year in the third quarter of 2022, accelerating from a 3.6% rise in the previous three-month period. This marks the sixth consecutive quarter of economic expansion and at the quickest pace since the first quarter of 2015, driven by the positive performance of activities in the primary sector, such as agriculture (4.7% vs 3.5% in Q2) and fisheries (12.3% vs -8.2%); transportation & storage (25.8% vs 33.6%) and the extraction of diamonds & other minerals (8.3% vs 40.3%). Also, strong growth was recorded in finance & insurance (41.6% vs -38.8%). Meanwhile, the oil sector expanded slightly faster (2.7% vs 2.2%). On the other hand, manufacturing activity slowed markedly (0.8% vs 2.7%) and output declined further in post & telecommunications (-8.1% vs -10.6%). On a quarterly basis, the GDP rose by 0.8%, after increasing by 0.5% in the previous quarter. Angola's economy was stuck in recession between 2016 and 2020, having grown by 1.1% in 2021.
2023-01-04
Angola GDP Growth Strongest Since 2015
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%.
2022-10-04
Angola GDP Growth at Over 3-Year High
The economy of Angola expanded by 2.6% year-on-year in the first quarter of 2022, following an upwardly revised 2.4% rise in the previous three-month period. It was the fourth consecutive quarter of expansion and at the fastest pace since the last quarter of 2018. The transport sector grew the most (31.3%), namely the airline industry, as a result of the increase in flight frequencies, as well as the entry into operation of new companies. Additionally, the oil sector rose 1.9% in the first quarter, for the first time since 2016, amid higher oil prices and strengthening demand. On the other hand, diamonds & other minerals extraction registered the biggest drop, with a contraction of 28.3%. On a seasonally quarterly basis, the GDP rose 4.3%, the most since the last quarter of 2014.
2022-07-04