According to data from the National Institute of Statistics (INE), consulted this Wednesday by Lusa, the angolan economy registered an expansion of 1.2 percent from April to June this year, which represents the highest growth since the first quarter of 2019, even before the covid-19 pandemic, when Angola had also grown 1.2 percent.
The rise in economic activity in the second quarter of this year is due to the very low effect of economic activity from April to June of last year, in the most accentuated period of the pandemic, when Angola's economy had fallen 8.4 percent, by that the result of 1.2 percent this year does not compensate for the previous drop.
"The performance of economic activities in the second quarter of 2021 in relation to the second quarter of 2020, in terms of positive variation, was mainly due to the activities of Agriculture, Livestock and Forestry (8.5 percent); Fishing (104, 2 percent); Manufacturing Industry Products (1.4 percent); Electricity and Water (2.4 percent); Trade (14.5 percent); Transport and Storage (80.4 percent); Posts and Telecommunications (8.6 percent); Financial and Insurance Intermediation (5.5 percent); Public Administration, Defense and Mandatory Social Security (5.0 percent); Real Estate and Rental Services (5.0 percent); Financial Intermediation, Indirectly Measured (8.9 percent)", reads the statement available on the INE website.
Last year, the Angolan economy contracted by 5.4 percent, following four years of negative growth driven by the drop in oil prices since mid-2016 and then by the effects of the covid-19 pandemic.
