Angola Tasso di Crescita annuale del PIL

Angola's economy rose by 1.4% over a year ago in the third quarter of 2023, following a period of near-stagnation in the previous three months. This upturn marked the strongest expansion since Q4 2022, largely propelled by a significant revival in the extraction of diamonds and other minerals sector (+41.7% vs -21.9% in Q2). This notable performance was driven by heightened production from various companies, notably in the diamond sector, contributing a substantial 84.76% to the total output. Other activities such as Fishing (+15.8% vs +5.6%) and utilities (+4.8% vs +4.9%) also supported the overall growth. Conversely, the all-important oil sector shrank 0.8%, impacted by a comprehensive shutdown of platforms stemming from a malfunction in the gas compression system on the Mafumeira Sul platform, which occurred in the middle of the quarter. On a quarterly basis, the GDP expanded by 1.9% in Q3, the most since the second quarter of 2019, after rising by only 0.2% in the prior quarter.