Angola GDP


Angola: Economy accelerates in 2014

July 15, 2015

In 2014, the economy expanded 4.7%, according to a preliminary estimate from the Central Bank. The figure was a slowdown over the 6.8% expansion observed in 2013 and marked the slowest increase in three years. The deceleration came mainly on the back of a slowdown in the oil sector, which contracted 2.6%. In addition, the non-oil GDP sector decelerated from a 10.9% increase in 2013 to a 8.2% rise in 2014.

In 2014, the agricultural sector grew 11.9%, which was significantly below the 41.7% growth observed in the previous year. The decrease in production came on the back of adverse weather conditions. In addition, the energy sector expanded 17.3%, which was down from the 36.4% rise recorded in the previous year. On the contrary, merchant services and the fishery sector recorded an improvement over the previous year.

FocusEconomics Consensus Forecast participants see the economy growing 5.6% in 2015, which is down 0.1 percentage points from last month’s forecast. For 2016, panelists project that the economy will expand 5.9%.

Author:, Senior Economist

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Angola GDP Chart

Angola GDP Annual July 2015 1

Note: Year-on-year changes of GDP in %
Source: National Bureau of Statistics.

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