Africa-Press – Angola. The Gross Domestic Product (GDP) grew 0.01% from the I quarter of 2022 to the II quarter of 2023, the National Statistics Institute (INE) reported this Monday in Luanda.
According to the Quick Information Sheet (FIR), referring to the National Accounts for the second quarter of 2023, GDP grew 0.2% from the first quarter to the second quarter of 2023, taking into account the seasonally adjusted series.
INE states that the quarter-by-quarter variation (with seasonal adjustment) indicates that the activities that contributed positively to the variation in GDP, in the second quarter of 2023 in relation to the first quarter of 2023, were Agriculture – livestock and forestry 0.12% , fishing 0.18%, oil extraction and refining 1.84% and financial and insurance intermediation 0.25%.
Sector analysis
The FIR indicates that the Gross Value Added of agriculture grew by 1.6%, in the second quarter of 2023, in relation to the previous quarter, contributing positively by 0.002% to the total variation in GDP.
The document justifies that this variation was due to the increase in the production of agricultural crops and livestock, with agricultural products varying by 0.16% and livestock products by 11.0% in this period in the sector.
The Gross Value Added of Fishing grew by 5.6%, in the second quarter of 2023, compared to the same quarter of the previous year, contributing positively by 0.003% to the total variation in GDP.
This growth was due to the increase in some large vessels and the entry of more communal aquaculture projects and larviculture centers. The industrial and semi-industrial fishing product represents a weight of around 70% of the sector, and in this period it had a variation of 8.7%.
The Gross Value Added of Oil fell by 2.9% in the second quarter of 2023 compared to the same quarter of the previous year, contributing negatively by 0.01% to the total variation in GDP.
Although there were positive changes in the production of extracted quantities of natural gas, LNG and condensate, there was a drop in the extraction of crude oil, with the latter having a weight of around 90%.
This variation is the result of the interruption of processing due to the gas leak in the “BL6P1-ST1” well in the Belize field, the activation of the high pressure alarm in the storage tank, in the FPSO Kizomba A and the low performance of some wells in the Ndungu field. , and also the lack of support from the water injection system.
The Gross Value Added from diamond extraction decreased by 21.9% in the second quarter of 2023, compared to the same quarter of the previous year, contributing negatively by 0.01% to the total variation in GDP.
This drop was mainly due to the fact that there was a negative variation in diamond and salt extraction production of around 22.1% and 52.9%, respectively. The two areas of activity account for more than 90%.
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