Agriculture reaches 23% of Angola’s GDP
By the AFREEQUE newsroom, based on Jornal F8
Agriculture and livestock now account for about 23% of Angola’s gross domestic product, almost twice their share 10 years ago, State Minister for Economic Coordination José de Lima Massano said. Food manufacturing makes up 58% of manufacturing, while industrial production rose 66% in September, according to the National Statistics Institute.
The agro-pastoral sector currently accounts for about 23% of Angola’s gross domestic product, State Minister for Economic Coordination José de Lima Massano said, as quoted by Jornal F8. Its share has almost doubled in 10 years, according to the official, who sees this as a progressive reduction in the economy’s external vulnerabilities.
Oil exports remain the main source of foreign currency, but the food segment accounts for 58% of manufacturing. The industrial production index rose by 66% year on year in September, according to data from the National Statistics Institute reported by the minister.
Food products and non-alcoholic drinks account for about 56% of Angola’s consumer price index. Massano believes that the growth of agriculture and the food industry can support disinflation, meaning a slowdown in the rise in prices. He called for continued public investment in agriculture, manufacturing, logistics infrastructure and the development of domestic production.
The minister also defended continuing legislative reforms and adapting monetary policy instruments to preserve price stability and limit the return of inflationary pressures.
