According to the 2015–2024 National Accounts, released last week by the National Statistics Institute (INE), gross savings fell to 15.77 percent of GDP in 2024, the lowest level in the last decade, after peaking at 30.68 percent in 2018, while the investment rate fell to 10.39 percent, less than half the level recorded in 2015.
The Angolan economy showed signs of recovery after years of recession, with GDP at current prices growing from approximately 15.8 trillion kwanzas in 2015 to 101.9 trillion kwanzas in 2024, an average annual growth rate of 23 percent.
However, this growth does not take into account the level of accumulated inflation during this period.
Between 2015 and 2024, GDP experienced significant fluctuations. After a sharp drop of 4.04 percent in 2020, a recovery of 2.10 percent was observed in 2021, with a growth trend, reaching 4.42 percent in 2024, the highest value in the analyzed period.
The downward trend in gross savings, which represented more than 30 percent of GDP in 2018, was followed by savings as a percentage of disposable income, which fell to 16.91 percent in 2024, almost half the value recorded six years earlier.
The INE report also shows that the share of wages in the economy decreased substantially, from 26.48 percent of GDP in 2015 to 19.46 percent in 2024, while business profits and income of self-employed workers (Gross Operating Surplus and Mixed Income) increased from 71.30 percent to 77.82 percent.
Investment also suffered a structural decline, falling from 28.66 percent of GDP in 2015 to 10.39 percent in 2024.
On the other hand, regarding financing needs/capacity, the indicator showed financing needs between 2015 and 2017, but starting in 2018, net financing capacity increased, reaching 5.40 percent in 2024.
