Impact of COVID-19 on projected GDP growth in Angola 2020-2022

Economic activity in Angola may contract in 2020, due to disruptions caused by the coronavirus (COVID-19) outbreak. According to estimates done in December 2020, the country’s Gross Domestic Product is expected to shrink by 4.5 percent. The forecast is, however, slightly better than that elaborated by the same source in June 2020, when the Angolan economy was expected to slow down by 5.3 percent considering the persistence of the pandemic.

Aside from COVID-19, Angola's economy also suffered the impact of the collapse in global commodity prices. Heavily dependent on the oil sector, the country was challenged by weaker external demand and lower prices. For 2021, an economic recovery is projected and the GDP growth is estimated at 3.1 percent.