Forecast: Total Primary Energy Supply in Angola

The total primary energy supply in Angola stood at 16.04 Million Tonnes of Oil Equivalent (Mtoe) as of 2023. The year-on-year variation between 2022 and 2023 was a modest increase of 1.71%, illustrating a relatively stable period following higher volatility in previous years. Over the last two years, we've seen a recovery from a decrease in 2020, with a cumulative year-on-year growth of 9.04% from 2021 to 2023. Looking at a longer-term perspective, the five-year compound annual growth rate (CAGR) from 2018 to 2023 was 1.31%, signifying slow but positive growth. Forecasted data predict a 16.87% increase in total supply by 2028, culminating in an average annual growth rate of 1.34% over the next five years.

Future trends to watch for include the impact of economic policies on energy production and supply, potential investments in renewable energy sources, and evolving regional cooperation in energy trading. Monitoring these factors will provide insights into whether Angola can sustain its growth path in primary energy supply.