Africa-Press – Angola. Angola’s gross domestic product (GDP) grew by 4.6 percent in the first quarter of 2024, marking the highest quarterly growth rate since 2015.
The result reflects a positive and widespread performance across all sectors of the economy, highlighting the impact of effective economic policies and strategic investments.
An analysis of the indicators reveals that all major sectors of the Angolan economy recorded growth during the period, demonstrating a robust and uniform recovery.
The oil sector, traditionally one of the pillars of the country’s economy, showed a recovery, with an increase of 3.5 percent, driven by the stability of international oil prices and the increase in production.
The agricultural sector, with an expansion of 6.2 percent, contributed significantly to GDP growth. This performance is attributed to several government initiatives to support family farming and the implementation of new agricultural technologies that have improved productivity.
Growing by 4.8 percent, the industrial sector reflected an increase in manufacturing output and construction. Ongoing infrastructure projects, financed by both the government and private investors, were crucial to this growth.
On the other hand, the services sector, including Trade, Transport and Telecommunications, grew by 5.1 percent. Increasing digitalization and improvements in Telecommunications services contributed significantly to this increase, in addition to a recovery in the Tourism and Hospitality sectors.
The data are contained in the INE’s Quick Information Sheet (FIR), referring to the National Accounts for the first quarter of 2024, which provides a detailed analysis of quarterly growth with seasonal adjustment, year-on-year variation, and accumulated growth rates throughout the year.
The report includes a methodological note, the main results obtained and their justifications, as well as general tables and a set of concepts to facilitate understanding of the content. The publication offers a comprehensive overview of Angola’s economic performance, allowing a better understanding of current economic dynamics and assisting in the formulation of future policies.
For More News And Analysis About Angola Follow Africa-Press
