Flash Note

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

In Q1 2021, Angolan GDP grew 2.6% compared to the same period – the third consecutive quarter of year-on-year increase and the highest value since Q4 2018. The non-oil economy slowed again, growing 2.8% (compared to +4.3% in Q4 2021 and +6.6% in Q3 2021); at the same time, the oil economy grew 1.9%, the first year-on-year increase since Q1 2016 – in the previous quarter, the decline had been 2.8% yoy.

The Transport sector grew sharply, with moderate growth in all other sectors, with the exception of Retail, where activity rose only 1.9% yoy, and the Mining and Financial Intermediation sectors, which recorded decreases of 28.3% yoy and 14.7% yoy respectively. The Oil and Construction sectors remain significantly below their level in the same quarter of 2019, before the pandemic. Similarly, the Mining and Financial Intermediation sectors are also below the pre-pandemic level – all other sectors are already above 2019 levels, in particular Fisheries, Transport and Retail.

Best regards,
BFA

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