Angola Economic Outlook
January 25, 2022
The economy bounced back to growth in the third quarter of last year, thanks to firming non-oil sector activity. Manufacturing and trade output picked up pace in annual terms in the quarter, while production in the construction sector swung from a contraction to an expansion in the period. On the other hand, the key oil sector remained downbeat, recording the 23rd consecutive quarter of declining annual output. Moving forward, conditions likely remained fairly stable in Q4: Oil production was stable on average in the quarter compared to the previous period, while oil prices trended higher. However, contractions in the money supply in October and November suggest cooling activity, while rising inflationary pressures likely weighed on household spending. Meanwhile, surging Covid-19 cases in January bode ill for the economy at the outset of the new year.Angola Economic Growth
Angola is forecast to emerge from a six-year recession in 2022 amid a rebounding oil sector. Moreover, activity in the non-oil sector should be buoyed by progress on the vaccination front, moderating price pressures and the halving of the VAT. Social unrest and weakened public finances cloud the outlook, however. FocusEconomics panelists see GDP expanding 2.5% in 2022, which is down 0.1 percentage points from last month’s forecast. In 2023, the economy is seen growing 2.9%.Angola Economy Data
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Angola Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 479.0 | 0.0 % | Jan 01 |
| Stock Market | 0.1 | 0.0 % | Jan 07 |
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Angola Economic News
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Angola: Cabinda prices cool at the close of the year
January 24, 2022
Cabinda oil prices cooled further at the close of last year, averaging USD 74.4 per barrel (pb) in December.
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Angola: Economy rebounds in Q3 on firming non-oil activity
January 15, 2022
National accounts data for the third quarter showed that the economy expanded 0.8% year-on-year, rebounding from the second quarter’s revised 0.2% contraction.
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Angola: Inflation remains steady in December
January 14, 2022
Consumer prices rose 2.20% in December over the previous month, picking up from the 2.13% increase seen in November.
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Angola: Cabinda prices cool slightly in November on resurgent Covid-19 fears
December 13, 2021
Cabinda oil prices dropped to an average of USD 81.7 per barrel (pb) in November.
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Angola: Inflation eases to eight-month low in November
December 13, 2021
Consumer prices increased 2.13% over the previous month in November, a smaller increase than the 2.16% rise recorded in October.
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