Investment in Angola
Angola - Investment
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.
FocusEconomics see GDP expanding 1.0% in 2021, which is unchanged from last month’s forecast. In 2022, the economy is seen growing 2.3%.
Angola - Investment Data
|Investment (annual variation in %)||-1.9||-19.5||3.0||-6.2||-|
5 years of economic forecasts for more than 30 economic indicators.
|Exchange Rate||479.0||0.0 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 07|
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February 19, 2021
Consumer prices increased 1.94% from the previous month in January, marking the softest monthly rise since September last year and coming in above December’s 2.19% increase.
February 16, 2021
Angola’s Cabinda oil sold at USD 55.4 per barrel (pb) on average in January, which was up from December’s USD 51.1 pb.
January 29, 2021
At its 28–29 January meeting, the Monetary Policy Committee of the National Bank of Angola (BNA) maintained its basic reference rate at 15.50%, where it has been since 24 May 2019.
January 21, 2021
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).
January 14, 2021
Consumer prices increased 2.19% from the previous month in December, largely in line with the 2.14% rise seen in November.