Economy of Angola
Economy of Angola
Currency
Angolan kwanza (AOA)
Fiscal year
Calendar year
Trade
organisations
AU, WTO
Statistics
GDP
$114.95 billion (2008)
GDP growth
14%[1]
GDP per capita $7,300 (2008)
GDP by sector
agriculture (9.6%), industry
(65.8%), services (24.6%)
(2005)
Inflation (CPI)
13.2% (2006)
Population
below poverty
line
70% (2003)
Labour force
70% (2003)
Labour force
by occupation
agriculture (85%), industry
and services (15%) (2003)
Unemployment
"extensive unemployment
and underemployment
affecting more than half the
population"[1] (2001)
Main
industries
"petroleum, diamonds, iron
ore, phosphates, feldspar,
bauxite, uranium, gold,
cement, basic metal
products, fish processing,
food processing, brewing,
tobacco products, sugar,
textiles, and ship repair"[1]
External
Exports
$35.53bn (2006)
Export goods
"crude oil, diamonds, refined
petroleum products, gas,
coffee, sisal, fish and fish
products, timber, cotton"[1]
Main export
partners
U.S. 39.8%, the People’s
Republic of China 29.6%,
France 7.8%, Chile 5.4%,
Taiwan 4.4% (2005)
Imports
$10.21bn (2006)
Import goods
"machinery and electrical
equipment, vehicles and
spare parts, medicines, food,
textiles, military goods"[1]
Main import
partners
South Korea 20.5%, Portugal
13.4%, U.S. 12.5%, South
Africa 7.4%, Brazil 7%,
France 5.1%, the People’s
Republic of China 5% (2005)
Public finances
Public Debt
32.7% of GDP (2006)
Revenues
$10.98bn (2006)
Expenses
$9.7bn (2006)
Economic aid
$383.5 million (1999)
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US
dollars
The Economy of Angola
is one of the
fastest-growing economies in the world,[2]
but is still recovering from the Angolan Civil
War that plagued Angola from independence
in 1975 until 2002. Despite extensive oil and
gas resources, diamonds, hydroelectric po-
tential, and rich agricultural land, Angola re-
mains poor, and a third of the population re-
lies on subsistence agriculture. Since 2002,
when the 27-year civil war ended, the coun-
try has worked to repair a