A Review of the Nigerian Energy Industry

Angola’s non-oil sectors boost GDP

Angola's non-oil sectors boost GDP

07 November 2014, Luanda — The incidence of the oil production in Gross Domestic Product (GDP) has fallen in the last five years, from 65 to 41 percent, due to the greater contribution from other sectors of the economy, said the incumbent minister Jose Maria Botelho de Vasconcelos.

The minister was speaking at a Forum on the “Importance of Internationalisation of Angolan companies”, stressing that this percentage reflects the commitment of the non-oil sectors to GDP structure.

Jose Botelho de Vasconcelos said that the Angolan business sector’s contribution to the annual revenues stands at about 70-75 percent and the oil business at 97 percent.

As for hydrocarbon sector, the Oil minister predicted a ten-percent contribution to GDP growth next year.

In her turn, the minister of Industry, Bernarda Gonçalves Martins, said that the diversification of economy, underway in the country, imposes the creation, in short term, of favourable conditions for processing raw materials.

According to the minister, the process involves building industrial development hubs in different regions of the country.

Bernarda Gonçalves Martins stressed the role of the Ministry of Industry in the internationalisation and export, which, according to her, are fundamental to outline facilitation policies.

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