According to the Quick Information Sheet (FIR) referring to the National Accounts for the first quarter of 2024, compared to the previous quarter, the Gross Domestic Product (GDP) grew 2.1 percent, considering the seasonally adjusted series, with positive performances in construction, transport and storage, in addition to the oil and natural gas sector, which is most prominent.
GDP in the first quarter of this year totaled 18,327,957 million kwanzas, of which 180,473 million kwanzas were due to taxes on products, net of subsidies.
The activities that contributed most to the performance of economic activity in this period, according to INE, were the extraction and refining of crude oil and natural gas, with 30.4 percent, and trade (26.8 percent).
Agriculture and forestry (7.7 percent), other services (8.3 percent), manufacturing products (5.5 percent), construction (5.5 percent), fishing (4.9 percent) and real estate services (3.4 percent) also made positive contributions, as well as public administration, defense and mandatory social security (1.8 percent).
The accumulated GDP of the last four quarters grew 2.1 percent, thanks to the performance of agricultural and forestry activities, fishing, oil extraction and refining, diamond extraction, electricity and water, trade, financial intermediation and insurance, services real estate and rental and other services.
The IMF forecasts growth of 2.6 percent this year and 3.1 percent next year for the country's economy, below the 3.8 percent and 4 percent estimated for the sub-Saharan African region.
