Angola’s economy grew by 1.4% YoY in Q4 2023, continuing its 11th consecutive quarter of growth, albeit at a modest pace. The growth was primarily driven by a 2.2% rise in the oil sector, reversing a previous 0.8% decline in Q3 2023, also supported by diamond mining activities. Still, GDP saw a 0.3% QoQ decline following a 1.9% rise in Q3. In 2023, Angola’s economy expanded by 0.9%, down from 3% growth in 2022.