Non-oil sector accounts for 58 percent of Angola’s gross domestic product

25 November 2009

Luanda, Angola, 25 Nov – The non-oil sector now accounts for 58 percent of Angola’s Gross Domestic Product (GDP), the Angolan economy minister, Manuel Nunes Júnior said Tuesday in the country’s parliament.

The minister added that this new reality represented an “exceedingly important structural change for the Angolan economy,” as it was “the most appropriate way for employment to rise in the country.”

Nunes Júnior was replying to questions asked by members of parliament ahead of the approval of the 2010/2011 National Plan and the General State Budget for 2010, which were unanimously approved.

Nunes Júnior also spoke about the importance of growth of the non-oil sector for creation of employment, which would improve the quality of life and wellbeing of the population.

Angola is now the largest oil producer in sub-Saharan African, currently producing 1.7 million barrels of oil per day.

“Since 200 growth of the non-oil sector has been greater than that of the oil sector. In 2007 oil sector growth was 20. Percent and non-oil was 25.7 percent, in 2008 it was 12.3 percent and 15 percent and in 2009 it was minus 3.6 percent and 5.2 percent. In 2010 we expect growth of 3.4 percent and 10.5 percent,” the minister said.

Nunes Júnior noted that the oil sector, although important in the overall wealth of the country, did not employ more than 20,000 people across the country. (macauhub)