Angola GDP Q3 2020

Angola: Activity falls at slower pace in the third quarter

GDP contracted at a slower rate of 5.8% year-on-year in the third quarter, above the 8.3% contraction logged in the second quarter.

Sector-level data revealed that the improvement came on the back of a softer drop in the key oil sector, which accounts for roughly one third of GDP, as output fell 5.1% year-on-year (Q2: -8.2% yoy). That said, Q3 marked the 18th consecutive quarter of contracting activity in the sector. Moreover, output in the fishing sector also declined at a reduced rate. Meanwhile, activity in the manufacturing sector swung from contraction to expansion and output growth in the agricultural sector accelerated. That said, activity in the extractive and construction sectors dropped at a sharper pace, weighing on the headline reading.

The economy remained in a dire situation in the final quarter of last year due to the lingering impact of the Covid-19 pandemic. However, activity is expected to recover this year, albeit marginally, from years of recession amid the reopening of the global economy and firming of international trade, which should strengthen aggregate demand. The balance of risks remains tilted to the downside, however, amid uncertainty over the strength of the global recovery as well as the rollout and availability of vaccines.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest