Angola’s agri-livestock sector now accounts for approximately 23% of the country’s gross domestic product, nearly double its share from a decade ago, according to data presented by Minister of State for Economic Coordination José de Lima Massano. The official said the strengthening of domestic production is contributing to a structural transformation of the economy and reducing its external vulnerability.

The figures were presented on Thursday, 5 November, at the closing session of the International Conference on Sustainable Disinflation and Monetary Policy Credibility, held as part of the celebrations marking the 50th anniversary of the Banco Nacional de Angola (BNA), according to Lusa. At the event, the minister highlighted shifts in the country’s economic structure despite its persistent dependence on oil export revenues.

“Although oil exports continue to dominate the generation of foreign exchange resources, the agri-livestock sector has demonstrated remarkable growth. Over ten years, the agri-livestock sector has nearly doubled its weight in the structure of Angola’s GDP, currently standing at around 23%,” he said.

José de Lima Massano also highlighted the performance of the manufacturing industry, in which the food segment — excluding oil refining — accounts for 58%. According to September data from Angola’s National Statistics Institute (INE), the Industrial Production Index recorded year-on-year growth of 66%.

These indicators carry particular significance for the trajectory of inflation, given that food and non-alcoholic beverages represent approximately 56% of Angola’s Consumer Price Index (CPI) basket.

“This means that the structural transformation under way in our economy underpins the path towards consolidating disinflation,” the minister said, advocating for the continuation of public incentives aimed at attracting investment into agriculture, manufacturing, and logistics infrastructure, as well as the promotion of domestic production.

Monetary policy credibility identified as a priority

The minister recalled that, over Angola’s first 50 years of independence, the country experienced successive periods of high inflation, including episodes of hyperinflation. He explained that legislative reforms and adjustments to monetary policy instruments have helped improve conditions for inflation control and reinforce monetary stability.

“We are currently living through a period of price stability in our economy, and it is essential that the progress achieved proves lasting and remains safeguarded against the resurgence of inflationary pressures,” he observed.

For José de Lima Massano, the credibility of monetary policy depends on the clarity of objectives, the consistency of decisions, the transparency of communication, and the coherence of results over time.

The conference, held within the framework of the BNA’s fiftieth anniversary commemorations, promoted reflection and the sharing of experiences on the conduct of economic policy, the sustainability of inflation reduction, and the reinforcement of monetary authority credibility.