Angola GDP Annual Growth Rate

Last Release

Mar 31, 2024

Actual

0.02

Units In

0.3

Frequency

Quarterly

Next Release

Apr 09, 2025

Time to Release

3 Months 16 Days 18 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 5.5% yoy in Q3 of 2024, marking the strongest expansion since Q1 2015, following a 4.1% rise in the previous period. The activities that contributed the most, in terms of participation, and constituted important factors for the performance of the activity in the GDP in the third quarter of 2024 were extraction and refining of crude oil and natural gas with a weight of 29.3%, trade with 22.5%, agriculture and forestry (11.4%), other services (7.2%), products and manufacturing industry (8.6%) and fishing with 5.8%. On a quarterly basis, GDP rose by 2.9% in Q3, rebounding from a 0.1% decrease in the previous quarter.