Flash Note N.º 3/2026

Dear subscriber [name],

Please find attached our most recent Flash Note:

Highlights:

• In Q4 2025, Angola’s economy grew by 5.7% compared to the same period of the previous year;

• The non-oil economy accelerated in Q4 2025 to around 7.5% YoY, reaching the highest growth level of the last 10 quarters;

• Recent data from local Institute of Statistics (INE) provides an overview of GDP distribution by province between 2015 and 2024. Luanda, the country’s capital, is the province with the largest economic weight, accounting for about 31.0% of domestic output in 2024;

• Angola’s economy recorded strong growth in the fourth quarter, bringing overall GDP growth to 3.1% in 2025. For 2026, our expectation is for real economic growth of around 3.3%, largely driven by the non-oil sector, which is projected to grow by about 4.6%, while the oil sector may contract by approximately 1.9%.

Best regards,
BFA

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