Angola´s GDP climbs 0.2 percent in first quarter

  • Luanda city
Luanda – Angola´s Gross Domestic Product (GDP) increased by 0.2% in the first quarter of this year, compared to the fourth quarter of 2020, Angop has learnt.

But compared to the same period last year, GDP slowed down by 3.4%, according to data released Wednesday by the National Institute of Statistics (INE).

 

The figure was presented last Wednesday by the head of the Department of National Accounts and Statistical Coordination, Pedro Calangi.

 

Calangi released the figure during a press conference after the Methodological Seminar on GDP Calculations, designed for  journalists from some public and private media houses.

 

Oil extraction and refining sectors contributed to the results of 0.2%, with 0.043% (0.8% in the fourth quarter of 2020) and the diamond branch with -0.013% (0.3% fourth quarter of 2020).

 

Contributed were also the construction sector contributed with -0.017% (0.4% in the fourth quarter of 2020) and trade, with -0.004% against 0.6% in the last three months of last year.

 

Compared to the previous year, the negative results of 3.4% were influenced by the oil extraction and refining industry, which had a variation of -18.6% against -1.8% in the same period, -31.5 % in construction against -0.1%.

 

Even with the positive results registered in the diamond mining industry, in the first quarter of this year, of 27.9% against -5.2% in 2020 and 29.6% against -5.2% in the trade sector, these did not influenced on the change in GDP, compared to the same period of the previous year.

 

According to the INE technician, in the Quick Information Sheet of the National Accounts, which presents the GDP, a new structure of the National Consumer Price Index (IPCN) was introduced.

 

This is the Value Added Tax (VAT) that was included in the accounting of taxes on products, in the nomenclature of the National Accounts.

 

However, the GDP is the sum of all goods and services produced in the country and serves to measure the evolution of the economy.

 

But compared to the same period last year, GDP slowed down by 3.4%, according to data released Wednesday by the National Institute of Statistics (INE).

 

The figure was presented last Wednesday by the head of the Department of National Accounts and Statistical Coordination, Pedro Calangi.

 

Calangi released the figure during a press conference after the Methodological Seminar on GDP Calculations, designed for  journalists from some public and private media houses.

 

Oil extraction and refining sectors contributed to the results of 0.2%, with 0.043% (0.8% in the fourth quarter of 2020) and the diamond branch with -0.013% (0.3% fourth quarter of 2020).

 

Contributed were also the construction sector contributed with -0.017% (0.4% in the fourth quarter of 2020) and trade, with -0.004% against 0.6% in the last three months of last year.

 

Compared to the previous year, the negative results of 3.4% were influenced by the oil extraction and refining industry, which had a variation of -18.6% against -1.8% in the same period, -31.5 % in construction against -0.1%.

 

Even with the positive results registered in the diamond mining industry, in the first quarter of this year, of 27.9% against -5.2% in 2020 and 29.6% against -5.2% in the trade sector, these did not influenced on the change in GDP, compared to the same period of the previous year.

 

According to the INE technician, in the Quick Information Sheet of the National Accounts, which presents the GDP, a new structure of the National Consumer Price Index (IPCN) was introduced.

 

This is the Value Added Tax (VAT) that was included in the accounting of taxes on products, in the nomenclature of the National Accounts.

 

However, the GDP is the sum of all goods and services produced in the country and serves to measure the evolution of the economy.