Angola’s economy is showing signs of renewed momentum, driven by a strengthening non-oil economy, which grew by around 5% in 2024 as the country continues to diversify beyond hydrocarbons. The country's strategic position in Africa offers a gateway to expanding business in the region's emerging markets.
Overall GDP growth reached approximately 4.4%, supported by activity in agriculture, construction, natural gas, and infrastructure. With natural-gas reserves estimated at around 130 billion m³ and over 600 registered investment projects in sectors such as transport, energy, manufacturing and services, Angola is actively opening new avenues for international cooperation. For Swiss exporters, opportunities exist in energy technology, infrastructure development, industrial equipment, digital solutions, and high-value goods.
At the same time, challenges remain significant. Inflation rose to over 28% in 2024, household purchasing power is under pressure, and unemployment remains high. Currency volatility, a still-narrow revenue base and elevated poverty levels require companies to tailor products, pricing and financing solutions to local realities. Swiss firms that combine high-quality technology with pragmatic, locally adapted strategies and trusted partnerships can build a strong and long-term position in this evolving market.
No
Free Trade Agreement
There is a free trade agreement between Switzerland and this country. Source: State Secretariat for Economic Affairs SECO
0.02 0.02 billion
Total trade flows
Total goods traded with Switzerland (imports + exports). Source: UN Comtrade. Data as of 2023.
4.77 4.77 %
3-year GDP growth
Total real GDP growth over the last three years. Source: World Bank. Data as of 2023.
Angola is moving beyond oil as mining, agriculture and infrastructure drive growth, while reforms and new investment agreements improve the business climate. In a still volatile macroeconomic environment, Swiss companies can identify high-value niches with the support of the Swiss Business Hub, where technology, quality and diversification needs intersect.
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FAQs
What is the current economic situation?
Angola recorded 4.4% GDP growth in 2024, underpinned by strong non-oil sector expansion of around 5%. Despite these positive signals, the business environment remains affected by high inflation - above 28% - and elevated unemployment. Fiscal conditions remain tight, though gradual reforms and diversification efforts are improving economic stability. Exporters should factor inflation, financing constraints and exchange-rate movements into their planning.
What are the main export and import trends?
Angola’s imports rose sharply - by more than 20% to around USD 27 billion in 2024 - reflecting higher demand for foreign goods and infrastructure-related materials. Oil continues to dominate exports, with China as the leading customer. This concentration makes Angola’s trade balance highly sensitive to global energy prices. For Swiss exporters, growing import demand opens doors, particularly in industrial equipment, pharmaceuticals, machinery and technical solutions.
What opportunities exist for Swiss companies?
Swiss expertise is well aligned with Angola’s diversification priorities. Opportunities exist in energy technologies, especially for natural gas development and refining capacity expansion; infrastructure, including transport systems, water solutions and engineered structures; industrial machinery for manufacturing; digital services and cybersecurity; and luxury goods, supported by Angola’s sizeable diamond industry and rising affluent segments.
Which sectors are most promising?
Promising sectors include energy (oil, gas and renewables), where Angola aims to expand refining and valorise natural-gas reserves; infrastructure, backed by hundreds of investment projects; and industrial technology, as firms modernise and expand local production. The non-oil economy’s robust growth also creates opportunities in agri-processing, logistics, ICT and selected consumer industries, where Swiss quality and reliability are valued.
What are the main challenges and risks?
Key challenges include high inflation, currency volatility, administrative hurdles and financing constraints. Unemployment and limited purchasing power can affect market depth, while regulatory unpredictability may slow investment decisions. Reputational sensitivities around financial governance also require careful compliance. Swiss exporters should conduct thorough due diligence and work with strong local partners to mitigate these risks.
