Angola’s economy contracts by 1.7% in 2018, INE says

16 April 2019

Angola recorded a contraction of 1.7% in its Gross Domestic Product (GDP) for 2018, according to the National Statistics Institute (INE), in figures included in the National Accounts for the fourth quarter and for the whole of last year.

INE added, however, that this annual rate of change may be adjusted when the final results of the National Accounts are published.

The overwhelming majority of economic activities contracted in 2018, with the exceptions being, according to INE, Electricity and Water, with a year-on-year increase of 22.3%, Construction with 0.4%, Post and Telecommunications with 1.8% , Financial intermediation with 11.7%, Public Administration with 1.2% and Real Estate Services with 3.0%.

In the fourth quarter of 2018, Angola’s economy grew by 2.2% when compared to the same period of 2017.

The sectors that contributed most to GDP were Exports and refining of crude oil and natural gas with 33%, followed by Construction with 14%, Trade with 12%, Public Administration with 9%, Agro-Livestock and Forestry with 4%, Real Estate Services and Rentals with 5% and Other Services with 6%. (Macauhub)