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. source: Instituto Nacional de Estatística, Angola

The Gross Domestic Product (GDP) in Angola expanded 5.50 percent in the third quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Angola averaged 3.35 percent from 2000 until 2024, reaching an all time high of 23.20 percent in the fourth quarter of 2007 and a record low of -11.80 percent in the fourth quarter of 2015. This page provides - Angola GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Angola GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2025.

The Gross Domestic Product (GDP) in Angola expanded 5.50 percent in the third quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Angola is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Angola GDP Annual Growth Rate is projected to trend around 2.70 percent in 2025 and 3.20 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-10-02 12:45 AM
GDP Growth Rate YoY
Q2 4.1% 4.6% 4.2%
2024-12-19 12:30 PM
GDP Growth Rate YoY
Q3 5.5% 4.1% 3.5%
2025-04-09 12:45 PM
GDP Growth Rate YoY
Q4 5.5% 2.5%


Related Last Previous Unit Reference
Full Year GDP Growth 0.90 3.00 percent Dec 2023
GDP Growth Rate YoY 5.50 4.10 percent Sep 2024
GDP Constant Prices 403532.00 361368.00 AOA Million Sep 2024
GDP from Agriculture 25307.00 27075.00 AOA Million Sep 2024
GDP from Construction 34620.00 16942.00 AOA Million Sep 2024
GDP from Manufacturing 16849.00 14478.00 AOA Million Sep 2024
GDP from Mining 13271.00 11434.00 AOA Million Sep 2024
GDP from Public Administration 38517.00 25202.00 AOA Million Sep 2024
GDP from Services 65044.00 50939.00 AOA Million Sep 2024
GDP from Transport 8427.00 5052.00 AOA Million Sep 2024
GDP from Utilities 3374.00 3885.00 AOA Million Sep 2024

Angola GDP Annual Growth Rate
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).
Actual Previous Highest Lowest Dates Unit Frequency
5.50 4.10 23.20 -11.80 2000 - 2024 percent Quarterly
2014=100


News Stream
Angola GDP Growth Strongest in Over 9 Years
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.
2024-12-19
Angola Q2 GDP Growth Eases from 9-Year Peak
Angola's economy advanced by 4.1% yoy in Q2 of 2024, slowing from the fastest growth since Q1 2015 of 4.6% in the previous period. However, the latest result marked the 14th successive quarter of economic expansion, with growth in the key oil sector easing after logging the strongest increase since Q3 2015 (2.6% vs 6.9% in Q1). Additionally, there was moderation in the output of utilities (7.0% vs 10.5%) and transportation & storage (9.8% vs 19.4%), amid a fall in finance & insurance activity (-0.9% vs 10.2%). On the other hand, output growth accelerated for agriculture (4.2% vs 3.8%), domestic trade (6.0% vs 3.3%), manufacturing (1.5% vs 1.3%), public administration (4.6% vs 2.5%), and real estate (3.0% vs 2.9%). On a quarterly basis, GDP shrank by 0.05% in Q2, the first contraction since Q1 2023, following a 2.1% rise in Q1, which was the strongest pace since Q4 2016.
2024-10-02
Angola Q1 GDP Growth Strongest Since 2015
Angola's economy expanded by 4.6% yoy in Q1 of 2024, after an upwardly revised 2.0% growth in the previous three-month period. It marked the 13th successive quarter of economic expansion, marking the fastest pace since Q1 of 2015, with the key oil sectors growing the most since Q3 of 2015 (6.9% vs 2.2% in Q4 of 2023). Output expanded faster was also seen in agriculture (6.2% vs 4.2%); utilities (7.0% vs 3.8%); internal trade (6.0% vs 2.9%); and finance & insurance (10.2% vs 7.2%) while rebounding in transportation & storage (19.4% vs -15.4%) and public administration (2.5% vs -2.5%). Meanwhile, activities eased for manufacturing (1.3% vs 3.6%) and real estate (2.9% vs 3.1%). On a quarterly basis, the GDP grew by 2.1% in Q1, the fastest pace since Q4 of 2016, following a revised 0.3% gain in the previous period.
2024-07-03