Angola GDP Growth Rate

The Gross Domestic Product (GDP) in Angola expanded 7.40 percent in 2013 from the previous year. GDP Growth Rate in Angola is reported by the Ministerio das Financas Angola. From 2000 until 2013, Angola GDP Growth Rate averaged 11.2 Percent reaching an all time high of 23.2 Percent in December of 2007 and a record low of 2.4 Percent in December of 2009. Angola is Africa’s second largest oil producer. As such, oil production is the main sector of the economy, accounting for about 47 percent of total GDP. Within the non-oil sector, Wholesale and Retail Sales (21 percent of total output) and Agriculture and Fishery (10 percent) are the biggest. Other sectors include: Construction (7.7 percent), Other Sectors (7.2 percent ), Manufacturing (6 percent) and Diamonds (1 percent). This page provides - Angola GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-16

Actual Previous Highest Lowest Forecast Dates Unit Frequency
7.40 5.20 23.20 2.40 7.84 | 2014/06 2000 - 2013 Percent Yearly

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Angola GDP Growth Rate
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP per capita 2685.83 2012-12-31 2593.84 2685.83 993.90 2788.51 2013-12-31 USD [+]
GDP per capita PPP 5262.03 2012-12-31 5081.80 5262.03 1947.23 5463.19 2013-12-31 USD [+]
GDP 114.20 2012-12-31 104.11 114.20 4.10 126.85 2013-12-31 USD Billion [+]
GDP Growth Rate 7.40 2013-12-31 5.20 23.20 2.40 7.84 2014-06-30 Percent [+]
GDP Annual Growth Rate 7.40 2013-12-31 5.20 23.20 2.40 11.50 2014-06-30 Percent [+]
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GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. 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.


RELATED NEWS

Angola Leaves Key Rate on Hold; Changes Lending and Absorption Facility Rates  
At its March 31st, 2014 meeting, central bank of Angola decided to leave the benchmark interest rate on hold at 9.25 percent, but raised the liquidity absorption rate by 25 bps to 1.5 percent and cut the standing lending facility rate by 25 bps to 10 percent.
Angola Inflation Rate Decelerates  
In February of 2014, Angolan annual inflation rate slowed to 7.48 percent, after accelerating in January for the first time in eight months.
Angola Holds Key Rate Steady  
At its February 2014 meeting, central bank of Angola decided to leave the benchmark interest rate on hold at 9.25 percent, while raising the liquidity absorption rate by 50 bps to 1.25 percent. The standing lending facility rate was kept unchanged at 10.25 percent.
Angola Inflation Rate Accelerates in January  
In the first month of 2014, Angola’s annual inflation accelerated for the first time in eight months to 7.84 percent.
National Bank of Angola Leaves Rate Unchanged at 9.25%  
In its January 2014 meeting, the National Bank of Angola decided to leave the benchmark interest rate unchanged at 9.25 percent. It also decided to reduce the required reserve ratio in local currency from 15 percent to 12.5 percent, aiming to increase credit to the economy and reduce the cost of financial intermediation.
Angola Inflation Rate at 7.69% in December  
In December of 2013, Angola inflation rate kept its downward trend and slowed even further to 7.69 percent. On a monthly basis, prices accelerated for the third straight month mainly due to higher food and housing cost.
National Bank of Angola Leaves Monetary Policy Unchanged  
The National Bank of Angola decided on December 23rd to leave the benchmark interest rate unchanged at 9.25 percent, following last month’s cut. The Board kept its recommendation to take the LUIBOR as the benchmark interest rate on bank loans.
Angola Inflation Rate Slows Even Further in November  
In November of 2013, Angola annual inflation rate eased to 7.94 percent, from 8.38 percent in October. A year ago, the inflation rate slightly accelerated to 9.83 percent.
National Bank of Angola Cuts Rate by 50 bps  
The National Bank of Angola decided on November 25th to cut the benchmark interest rate for the second time this year by 50 bps to 9.25 percent, citing falling inflation. The Board kept its recommendation to take the LUIBOR as the benchmark interest rate on bank loans.
Angolan Inflation Rate Down to Record Low in October  
In October of 2013, Angolan annual inflation rate slowed to 8.38 percent, its lowest level on record. Inflation a year ago was recorded at 9.76 percent.
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