Angola’s GDP grows 8.74% in second quarter

Non-oil activities expand 9.24%, outpacing the oil sector’s 5.64% growth

Annual growth accelerates from 5.32% in the first quarter

Non-oil activities account for 83.96% of nominal GDP

Manufacturing makes the largest contribution to quarterly growth

JOHANNESBURG — Angola’s economy expanded 8.74% in the second quarter of 2026 from a year earlier, according to quarterly national accounts data from the National Statistics Institute, or INE.

Growth accelerated from 5.32% in the first quarter and was the strongest since the second quarter of 2022, when gross domestic product increased 13.85%. On a seasonally adjusted quarter-on-quarter basis, the economy grew 2.75%.

Non-oil activities expanded 9.24% year-on-year, outpacing the oil sector’s 5.64% growth. At current prices, non-oil activities accounted for 83.96% of GDP, while oil represented 16.04%.

Diamond mining recorded the fastest annual growth among the industries covered, expanding 16.46%. It was followed by information and communication at 14.30%, accommodation and food services at 12.59%, and manufacturing at 12.22%.

Despite recording the highest growth rate, diamond mining was not the largest contributor to the economy’s annual expansion. Trade and vehicle repair added the most, contributing 1.67 percentage points, followed by manufacturing at 1.48 percentage points.

On a quarterly basis, accommodation and food services grew 10.33%, the strongest increase among the industries covered.

Manufacturing expanded by a more modest 6.10% but made the largest contribution to quarterly GDP growth. It added 0.54 percentage points to the overall 2.75% increase, followed by other services at 0.45 percentage points and trade and vehicle repair at 0.42 percentage points.

Not every industry expanded during the quarter. Transport and storage contracted 19.03%, while public administration, defense and social security subtracted 0.50 percentage points from growth, making it the largest sectoral drag.

GDP increased 7.15% year-on-year during the first half of 2026. On a rolling four-quarter basis, the economy grew 5.40%.

Information and communication recorded the strongest growth on that measure, expanding 31.55%. The increase alone, however, does not establish whether the sector’s share of GDP also rose.

At current prices, second-quarter GDP stood at 43.43 trillion kwanza. Taxes on products net of subsidies were negative at 149.13 billion kwanza, meaning subsidies on products exceeded the corresponding taxes during the quarter.

Using an indicative exchange rate of about 918 kwanza per dollar, the amounts would be equivalent to approximately $47.31 billion and negative $162.45 million, respectively.

The dollar figures should be treated with caution. The conversion uses an August reference rate rather than the average exchange rate during the second quarter and is therefore indicative.

The figures are contained in INE’s Folha de Informação Rápida covering Angola’s Quarterly National Accounts for the second quarter of 2026.