The consulting firm Oxford Economics said on Tuesday (2) that Angola is expected to grow by at least 4% this year, after recording 5.3% growth in the first quarter, driven by strong expansion in the non-oil sector.
“Real Gross Domestic Product (GDP) growth in the first quarter is significantly higher than our estimate of 3.7%; the impressive growth of the non-oil sector is a welcome development, as it demonstrates resilience in a context of volatility in the oil sector,” wrote analysts from the Africa department of the British consultancy.
In a commentary on the first-quarter GDP data sent to clients and cited by Lusa, Oxford Economics said that “projections point to 3.8% growth this year, accelerating from 3% in 2025, with oil exports, public spending, higher employment, and rising consumption supporting this strong growth.”
The analysts also stated that “the stronger-than-expected performance of the non-oil sector is likely to influence the forecast, and if this sector maintains its growth momentum, an upward revision of Angola’s GDP expansion forecast will be necessary.”
According to Angola’s National Statistics Institute (INE), GDP “grew by 5.32% in the first quarter of 2026 compared to the first quarter of 2025,” and on a quarter-on-quarter basis, it recorded growth of 1.37%, adjusted for seasonal effects.
The oil sector recorded a year-on-year contraction of 0.21%, while the non-oil sector grew by 6.22%, according to INE in its Quick Information Sheet analyzing growth for the first three months of the year.
