Angola GDP Growth Rate

The Gross Domestic Product (GDP) in Angola expanded 3.40 percent in 2011. Historically, from 2000 until 2010, Angola's average quarterly GDP Growth was 12.28 percent reaching an historical high of 20.60 percent in December of 2005 and a record low of -0.60 percent in December of 2009. Angola is one of the fastest growing countries in the world. Angola's economy is highly dependent on oil production which accounts for 85% of GDP. Still, despite its vast natural resources (diamonds, hydroelectric potential, and rich agricultural land) the country remains poor and a third of the population relies on subsistence agriculture. Corruption and public sector mismanagement are the main obstacles in lifting the poverty. This page includes: Angola GDP Growth Rate chart, historical data, forecasts and news. Data is also available for Angola GDP Annual Growth Rate, which measures growth over a full economic year.

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GDP Growth Rate
The Gross Domestic Product growth rate measures the increase in value of the goods and services produced by an economy. Economic growth is usually calculated in real terms or inflation-adjusted terms, in order to net out the effect of changes on the price of the goods and services produced. The Gross Domestic Product can be determined using three different approaches, which should give the same result. These different methods are the product technique, the income technique , and the expenditure technique. In sum, the product technique sums the outputs of every class of enterprise to arrive at the total. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes. The real GDP per capita of an economy is often used as an indicator of the average standard of living of individuals in that country, and economic growth is therefore often seen as indicating an increase in the average standard of living. However, there are some problems in using growth in GDP per capita to measure the general well-being of a country´s population. In fact, GDP was first developed by Simon Kuznets for a US Congress report in 1934, who immediately said not to use it as a measure for welfare. First, GDP per capita does not provide much information relevant to the distribution of income in a country. Second, GDP per capita does not take into account negative externalities such as pollution consequent to economic growth. Third, GDP per capita does not take into account positive externalities that may result from services such as education and health. Finally, GDP per capita excludes the value of all the activities that take place outside of the market place such as free leisure activities or less positive activities like organized crime.

Global News

U.K. Unemployment Rate Down to 8.2 in March
Published: 5/16/2012 4:26:31 PM By: TradingEconomics.com, ONS
The unemployment rate was 8.2 per cent of the economically active population for January-March 2012, down 0.2 on the quarter. There were 2.63 million unemployed people, down 45,000 on the quarter.

Euro Area External Trade Surplus Widens in March
Published: 5/16/2012 2:52:37 PM By: TradingEconomics.com, Eurostat
The first estimate for the euro area (EA17) trade in goods balance with the rest of the world in March 2012 gave a 8.6 bn euro surplus, compared with +1.0 bn in March 2011. The February 2012 balance was +2.3 bn, compared with -2.9 bn in February 2011. In March 2012 compared with February 2012, seasonally adjusted exports fell by 0.9% and imports by 1.1%.

Euro Area Annual Inflation Down to 2.6%
Published: 5/16/2012 2:50:32 PM By: TradingEconomics.com, Eurostat
Euro Area annual inflation was 2.6% in April 2012, down from 2.7% in March. A year earlier the rate was 2.8%. Monthly inflation was 0.5% in April 2012.

U.S. Annual Inflation Down to 2.3% in April
Published: 5/15/2012 1:35:37 PM By: TradingEconomics.com, U.S. Bureau of Labor Statistics
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in April on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.3 percent before seasonal adjustment.

U.K. Trade Deficit Narrows in March
Published: 5/15/2012 12:47:10 PM By: TradingEconomics.com, ONS
The UK’s deficit in Trade in Goods and Services narrowed to £2.7 billion in March, down £0.2 billion from £2.9 billion in February.

Canada's Unemployment Rate Up to 7.3% in April
Published: 5/11/2012 1:39:49 PM By: TradingEconomics.com, Statistics Canada
Canada's employment increased by 58,000 in April, mostly in full-time work. This was the second consecutive month of notable gains after four months of little change. With more people searching for work, the unemployment rate increased by 0.1 percentage points to 7.3%.

China's Inflation Rate Down to 3.4% in April
Published: 5/11/2012 11:31:49 AM By: TradingEconomics.com, National Bureau of Statistics of China
In April, the consumer price index (CPI) went up by 3.4 percent year-on-year. The prices grew by 3.4 percent in cities and 3.3 percent in rural areas.

Canada's Trade Surplus Widens in March
Published: 5/10/2012 1:50:11 PM By: TradingEconomics.com, Statistics Canada
Canada's merchandise exports edged down 0.4% and imports decreased 0.6%. As a result, Canada's trade surplus increased from $273 million in February to $351 million in March.

U.S. Trade Deficit Widens in March
Published: 5/10/2012 1:41:51 PM By: TradingEconomics.com, U.S. Census Bureau
Total March exports of $186.8 billion and imports of $238.6 billion resulted in a goods and services deficit of $51.8 billion, up from $45.4 billion in February, revised. March exports were $5.3 billion more than February exports of $181.5 billion. March imports were $11.7 billion more than February imports of $226.9 billion.

Bank of England Keeps Monetary Policy Unchanged
Published: 5/10/2012 12:10:23 PM By: TradingEconomics.com, Bank of England
The Bank of England’s Monetary Policy Committee voted on May 10th to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £325 billion.