However, the INE points out in its flash estimate for the National Accounts for the second quarter of 2024 that, compared to the first quarter of the year (4.6 percent), and taking into account the seasonally adjusted series, GDP grew less.
The Quick Information Sheet (FIR) explains that "due to the blinding method used in the compilation of the Quarterly National Accounts, the direct method was chosen to seasonally adjust the quarterly series".
GDP in the second quarter of 2024 totaled 18.7 trillion kwanzas.
The data show that construction, trade, transport and storage, postal services and telecommunications, real estate services and rentals, and other services contributed negatively to the variation in GDP between the first and second quarters of 2024.
The accumulated variation throughout the year, in relation to the same period in 2023, shows that GDP grew by the aforementioned 4.1 percent in relation to the same period of the previous year, mainly due to agricultural activities (4.0 percent), oil extraction and refining (4.6 percent), electricity and water (8.7 percent), trade (4.9 percent), transport and storage (15.0 percent), extraction of diamonds, metallic minerals and others (33.3 percent), other services (4.7 percent) and fishing (5.7 percent).
The activities with the greatest weight and which are important factors for the performance of GDP in the second quarter of 2024 were the extraction and refining of crude oil and natural gas with 31.8 percent, trade with 18.3 percent, followed by agriculture and forestry with 12.7 percent, other services with 11.8 percent, manufacturing products with 7.7 percent and fishing with 5.3 percent.
The sectors of construction, trade, transport and storage, postal and telecommunications, real estate services and rental and other services contributed negatively to the variation in GDP between the first and second quarters of 2024.
