africa Angola Economy

Angola 2018 first quarter’s GDP falls by 2.2 %

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Angola has recorded a 2.2 percent decrease of its Gross Domestic Product (GDP) in the first quarter of 2018, compared to the previous period of 2017, Angop has learnt.

The negative fluctuation was attributed to the performance of the sectors such as Fisheries (-12.8%), Trade (-8.8%), Extraction and Refining of Crude Oil (-7.3), Extraction of Diamonds and other Minerals (-6.7%), Agro-Livestock and Forestry (-1.5%), respectively.

In its website, the National Institute of Statistics (INE) highlights the activities that contributed to the performance of the activity in the GDP of the first Quarter of 2018.

They include the Extraction and Refining of Crude Oil and natural gas with 33%, followed by Commerce with 15%, Construction with 12% and Public Administration with 6%.

The minister of Finance Archer Mangueira last June predicted a GDP growth of around 2.2 percent this year.

Source: Angop

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