Forecast: Value Added by Wholesale, Retail Trade, Restaurants and Hotels in Angola

The value added by wholesale, retail trade, restaurants, and hotels in Angola stood at 31.407 billion USD in 2023. Reviewing historical data, we see that after significant growth in the early 2010s, the sector faced fluctuations. Notably, there were decreases in 2015 and 2016, followed by a recovery period with the value increasing consistently from 2018 onwards. In the recent two years, the sector's year-on-year variation was 8.4% in 2022 and 2.84% in 2023. Moreover, the Compound Annual Growth Rate (CAGR) over the past five years up to 2023 was 3.15%. Forecasts indicate continued growth, with a forecasted CAGR of 2.13% over the next five years, reaching 35.844 billion USD by 2028.

Future trends to watch for:

• Economic diversification: Angola's strategy to reduce its dependence on oil could positively impact the wholesale and retail sectors.

• Investment in tourism infrastructure: Enhancements in hotel and restaurant facilities could drive growth in these sectors.

• Consumer behavior shifts: Changes in consumer spending habits affected by digital transformation and e-commerce growth may influence market dynamics.

• Government policies: Reforms and regulations fostering business-friendly environments could further support sectoral growth.