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Angola GDP Annual Growth Rate
Last Release
Mar 31, 2024
Actual
0.02
Units In
%
Previous
0.3
Frequency
Quarterly
Next Release
Jun 30, 2025
Time to Release
3 Months 16 Days 12 Hours
Highest | Lowest | Average | Date Range | Source |
23.2 Dec 2007 | -11.8 Dec 2015 | 3.27 % | 2000-2024 | Instituto Nacional de Estatística, Angola |
Angola is Africa’s second largest oil producer. As such, oil sector accounts for about 47 percent of total GDP, 98 percent of export earnings and 75 percent of government revenues. Within the non-oil sector the biggest share goes to: wholesale and retail sales (21 percent of total output), agriculture and fishery (10 percent), construction (7.7 percent) and manufacturing (6 percent).
Latest Updates
Angola's economy grew by 3.6% in the fourth quarter of 2024, marking the 15th consecutive quarter of expansion, following a 5.5% advance in the previous three-month period. This growth was largely driven by the strong performance in diamond and mineral extraction, which increased by 62.4%, compared to 42.4% in the previous quarter. Significant positive contributions also came from activities such as post & telecommunications (6.4% vs +4.3%); public administration, defense, and mandatory social security (5.9% vs 4.4%); utilities (5.1% vs 3.1%); transport & storage (4% vs 6.7%) and trade (4% vs 4.7%). Conversely, declines were seen in finance & insurance activity (-18.6% vs -6.8%) and extraction and refining of crude oil and natural gas (-0.8% vs 3%). On a quarterly basis, GDP rose by just 0.1% in Q4, following a downwardly revised 2.2% rise in Q3. For 2024 as a whole, the GDP rose by 4.4%, marking strongest expansion in a decade, with the last similar growth recorded in 2014 at 4.8%.
Angola GDP Annual Growth Rate History
Last 12 readings