According to data released this Friday by the National Institute of Statistics of Angola (INE), the economy grew by 2.2 percent in the last quarter of 2021, benefiting from the 0.9 percent expansion in the third quarter, making it possible to offset negative growth of 0.47 and 0.13 percent recorded in the first two quarters of 2021.
"The activities that contributed positively to the change in GDP in the fourth quarter compared to the third quarter of 2021 were Fishing, with 0.29 percentage points, Oil extraction and refining, with 0.25 points, Diamond extraction and others with 0.53 points; Transport and storage with 0.61 points, Financial intermediation, with 0.03 points, Real estate and rental services, with 0.41 points, and Other services, with 0.07 points", read in the Quick Information Sheet.
Looking at last year's total, INE writes that "GDP accumulated over the year until the fourth quarter of 2021 grew by 0.7 percent compared to the same period in 2020", attributing the positive variation, the first since 2015, to "fundamentally, agriculture and forestry activities with 5.1 percent; Fisheries with 46.4 percent; Diamonds with 10.4 percent; Manufacturing industry with 0.6 percent; Electricity and water with 1.8 percent ; Commerce with 13.5 percent; Transport and storage with 28.9 percent; Post and Telecommunications with 1.4 percent; Public Administration with 2.6 percent and Real estate and rental services with 3.0 percent".
Angola thus emerges from the recession it has been in since 2016, the year in which GDP contracted by -2.6 percent. In 2017, GDP fell by 0.1 percent, and then by 2 percent in 2018, recording a further fall of 0.7 percent in 2019 and 5.6 percent in 2020.