Angola: Government wants industrial sector to contribute 30 percent of GDP

18 April 2008

Luanda, Angola, 18 April – The government of Angola wants the transformation sector to contribute at least 30 percent of national GDP in the next few years, the director of the country’s Industrial Development Institute (IDIA) has told the Angolan news agency Angop.

The industrial sector currently provides five percent of Angola’s gross domestic product (GDP), but this could rise to 9 percent due to growth of the construction materials sector.

“Our goal is not to export base products but rather industrialized or transformed ones, because they create jobs, employment and reduce the country’s dependence,” said the IDIA’s Kiala Gabriel.

“The aim and strategy of industrialization is to get the transformation sector to contribute at least 30 percent of GDP. A higher percentage means more transformation capacity and less economic dependence for Angola,” Gabriel added.

The Angolan industrial sector recorded growth of around 44.7 percent in 2006, versus 22 percent in 2005.

“Growth has been due to the emergence of new sector initiatives, the development of new projects, new investments and a broader offer of products,” the IDIA director told Angop. (macauhub)

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