GDP in Angola
Angola - GDP
Economy returns to growth in Q4 2018
The economy returned to growth in the final quarter of 2018, according to national accounts data released by the Statistical Institute (INE) on 17 April. The economy expanded 2.2% on an annual basis in Q4, rebounding solidly from a poor third-quarter outturn (Q3: -1.6% year-on-year). However, for the year as a whole, GDP still shrank 1.2%, more severely than the 0.1% contraction logged in 2017.
The all-important Angolan oil sector, which accounts for a third of GDP, continued to deteriorate as output tumbled 9.6% year-on-year in Q4. That said, the decline was somewhat softer than that recorded in Q3 (Q3: -11.6% yoy). This, alongside the sharp pick-up in activity in the construction and commerce sectors compared to their near-stagnant growth in Q3, was largely behind the fourth-quarter upturn.
Looking ahead, the economy is expected to exit its three-year long recession this year, mainly on the back of more upbeat domestic demand. Angola is also undergoing reforms to address macroeconomic imbalances as part of the IMF loan program approved back in December, which should also bode well for near-term prospects. The economy’s high dependence on the oil industry remains a major downside risk to the outlook, however, as potential disruptions in production and/or lower oil prices would adversely impact external and fiscal accounts.
FocusEconomics panelists see GDP expanding 1.9% in 2019, which is down 0.4 percentage points from last month’s forecast, and 2.3% in 2020.
Angola - GDP Data
|Economic Growth (GDP, annual variation in %)||5.0||4.8||0.9||-2.6||-2.5|
5 years of economic forecasts for more than 30 economic indicators.
Angola GDP Chart
Source: National Statistical Institute of Angola
|Exchange Rate||310.5||0.0 %||Jan 30|
|Stock Market||0.1||0.0 %||Jan 30|
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April 17, 2019
The economy returned to growth in the final quarter of 2018, according to national accounts data released by the Statistical Institute (INE) on 17 April.
April 15, 2019
According to the Statistical Institute (Instituto Nacional de Estadística), consumer prices in the province of Luanda rose 1.2% in March from the previous month, up slightly from February’s 1.0% increase.
April 11, 2019
The average price of Angola’s Cabinda crude oil rose from USD 65.2 per barrel (pb) in February to a five-month high of USD 66.8 pb in March.
March 29, 2019
At its meeting on 29 March, the Monetary Policy Committee (MPC) of the National Bank of Angola (Banco Nacional de Angola, BNA) kept the key policy rate stable at 15.75%.
March 19, 2019
The economic climate indicator (ICE, Indicador de Clima Económico) published by the Statistical Institute improved from minus 16 points in the third quarter to minus 12 points in the fourth quarter.