GDP grows by 2.7% in seasonally adjusted accounts

  • INE: Instituto Nacional de Estatística
Luanda - Angola's Gross Domestic Product (GDP) recorded a 2.7% growth in the third quarter of 2020, compared to the second quarter.

This was announced Friday by the National Statistics Office (INE), which based on the seasonally adjusted accounts.

INE director general, Chaney John, mentioned the Commerce, as the sector that  contributed the most, with 1.6%, followed by real estate and rental services (0.7%) and Manufacturing industry (0.6 %).

While the sectors of Agribusiness and miscellaneous  services come with 02% and (0.3%) respectively.

She attributed the results to the Executive decision on lockdown easing, after almost 30 days of the State of Emergency, due to the Covid-19 pandemic.

Chaney John explained that “the seasonal adjustment, made for the first time by the National Institute of Statistics, followed the variation of the period.

However, the official stressed, with regard to the year-on-year variation, GDP varied by 5.8% less in the third quarter of 2020, compared to the same period in 2019, with the extraction of oil and diamonds showing negative results.

Under the supervision of the Ministry of Economy and Planning, INE is tasked with producing and disseminating, in an efficient manner, official statistical information of quality and relevant to support the economic and social development of the country.

This was announced Friday by the National Statistics Office (INE), which based on the seasonally adjusted accounts.

INE director general, Chaney John, mentioned the Commerce, as the sector that  contributed the most, with 1.6%, followed by real estate and rental services (0.7%) and Manufacturing industry (0.6 %).

While the sectors of Agribusiness and miscellaneous  services come with 02% and (0.3%) respectively.

She attributed the results to the Executive decision on lockdown easing, after almost 30 days of the State of Emergency, due to the Covid-19 pandemic.

Chaney John explained that “the seasonal adjustment, made for the first time by the National Institute of Statistics, followed the variation of the period.

However, the official stressed, with regard to the year-on-year variation, GDP varied by 5.8% less in the third quarter of 2020, compared to the same period in 2019, with the extraction of oil and diamonds showing negative results.

Under the supervision of the Ministry of Economy and Planning, INE is tasked with producing and disseminating, in an efficient manner, official statistical information of quality and relevant to support the economic and social development of the country.