Angola Records Highest Economic Growth Since 2014

Angola achieved a 4.4% Gross Domestic Product (GDP) growth rate in 2024 – its strongest economic expansion since 2014. According to the World Bank’s latest Angola Economic Update, this growth was largely attributed to a rebound in the oil sector, increased diamond extraction and growth in the commerce and fishing industries.

Looking ahead from 2025 to 2027, real GDP growth is projected to average 2.9% during the time period. The slight decline is owed to the country’s reliance on oil, highlighting a strategic opportunity for gas-led diversification and growth.

“There is optimism that the comprehensive economic reforms currently being implemented by the government will produce positive outcomes and unlock the country’s potential. The country must intensify its support for key sectors that can significantly contribute to the essential process of economic diversification,” stated Juan Carlos Alvarez, World Bank Country Manager for Angola.