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.