Lagos, Nigeria – Angola’s industrial sector demonstrated notable resilience in the third quarter of 2024, achieving a 3.4% increase in the Industrial Production Index (IPI) compared to the same period last year. This growth, according to data from the National Institute of Statistics (INE), reflects a strengthening economic recovery driven by strategic diversification and enhanced productivity across key sectors.
AfricaHeadline Reports Team
editorial@africaheadline.com
The transformative industries played a pivotal role in this expansion, contributing 2.7 percentage points to the overall increase. This sector continues to underline Angola’s progress in adding value to its production chain, reducing dependence on raw material exports.
Simultaneously, the electricity, gas, and steam production and distribution segment added 0.5 percentage points to the growth figures, while extractive industries made a modest but positive contribution of 0.2 percentage points.
These performances collectively indicate an improving industrial framework that is increasingly aligned with the country’s broader economic objectives.
Among the categories of goods, intermediate goods stood out with an extraordinary year-on-year increase of 25.2% and a 19.0% rise from the previous quarter. This surge positions the category as the most dynamic contributor to the industrial recovery.
Consumer goods maintained stability, with marginal increases of 0.4% year-on-year and 0.1% quarter-on-quarter, reflecting consistent domestic demand. Energy products recorded modest growth of 1.2% compared to the previous year, demonstrating the sector’s steady performance in meeting essential energy needs.
Labour productivity also showed encouraging signs of improvement, as the service personnel index climbed 3.1% compared to both the same quarter in 2023 and the previous quarter.
This positive trend was mirrored in the index for hours worked, which rose by 4.4% year-on-year and 4.1% quarter-on-quarter, underscoring a more efficient deployment of human resources within the industrial sector.
Despite these achievements, challenges remain for certain segments. The textiles, apparel, and footwear industries experienced a 3.0% decline in production alongside a 2.5% reduction in employment. These results highlight the need for targeted interventions to revitalise underperforming sectors and ensure a balanced industrial recovery.
In addressing these dynamics, Minister of State for Economic Coordination José de Lima Massano emphasised the importance of diversification, strategic infrastructure investment, and fostering a robust business environment. His vision reflects the government’s broader strategy to sustain growth and drive competitiveness across Angola’s industrial landscape.
As the year progresses, expectations remain high for the consolidation of these gains. The government continues to implement structural reforms aimed at long-term stability and economic resilience, underscoring its commitment to an inclusive and sustainable industrial transformation.
