Economy - overview:
Angola's high growth rate in recent years was driven by high international prices for its oil. Angola became a member of OPEC in late 2006 and its current assigned a production quota of 1.65 million barrels a day (bbl/day). Oil production and its supporting activities contribute about 85% of GDP. Diamond exports contribute an additional 5%. Subsistence agriculture provides the main livelihood for most of the people, but half of the country's food is still imported. Increased oil production supported growth averaging more than 17% per year from 2004 to 2008. A postwar reconstruction boom and resettlement of displaced persons has led to high rates of growth in construction and agriculture as well. Much of the country's infrastructure is still damaged or undeveloped from the 27-year-long civil war. Land mines left from the war still mar the countryside, even though peace was established after the death of rebel leader Jonas SAVIMBI in February 2002. Since 2005, the government has used billions of dollars in credit lines from China, Brazil, Portugal, Germany, Spain, and the EU to rebuild Angola's public infrastructure. The global recession that started in 2008 temporarily stalled economic growth. Lower prices for oil and diamonds during the global recession slowed GDP growth to 2.4% in 2009 and to 3.4% in 2010, and many construction projects stopped because Luanda accrued $9 billion in arrears to foreign construction companies when government revenue fell in 2008 and 2009. Angola abandoned its currency peg in 2009, and in November 2009 signed onto an IMF Stand-By Arrangement loan of $1.4 billion to rebuild international reserves. Consumer inflation declined from 325% in 2000 to under 14% in 2011. Higher oil prices in 2011, helped Angola climb out of a budget deficit of 8.6 % of GDP in 2009 to an estimated fiscal surplus of 7.5 % of GDP in 2010. Corruption, especially in the extractive sectors, also is a major challenge.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: 1) The information regarding Angola on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Angola Economy 2012 information contained here. All suggestions for corrections of any errors about Angola Economy 2012 should be addressed to the CIA.
$115.9 billion (2011 est.)
country comparison to the world: 66
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$99.3 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
3.7% (2011 est.)
country comparison to the world: 110
[see also: GDP - real growth rate country ranks ]
$5,900 (2011 est.)
country comparison to the world: 137
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 9.6%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 65.8%
[see also: GDP - composition by sector - industry country ranks ]
services: 24.6% (2008 est.)
[see also: GDP - composition by sector - services country ranks ]
8.24 million (2011 est.)
country comparison to the world: 56
[see also: Labor force country ranks ]
agriculture: 85%
[see also: Labor force - by occupation - agriculture country ranks ]
industry and services: 15% (2003 est.)
NA
[see also: Unemployment rate country ranks ]
40.5% (2006 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 0.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 44.7% (2000)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
17.5% of GDP (2011 est.)
country comparison to the world: 147
[see also: Investment (gross fixed) country ranks ]
revenues: $42.86 billion
[see also: Budget revenues country ranks ]
expenditures: $35.41 billion (2011 est.)
[see also: Budget expenditures country ranks ]
43.2% of GDP (2011 est.)
country comparison to the world: 30
[see also: Taxes and other revenues country ranks ]
7.5% of GDP (2011 est.)
country comparison to the world: 10
[see also: Budget surplus (+) or deficit (-) country ranks ]
24.5% of GDP (2011 est.)
country comparison to the world: 106
[see also: Public debt country ranks ]
14.3% (2011 est.)
country comparison to the world: 206
[see also: Inflation rate (consumer prices) country ranks ]
25% (31 December 2010 est.)
country comparison to the world: 4
[see also: Central bank discount rate country ranks ]
17% (31 December 2011 est.)
country comparison to the world: 13
[see also: Commercial bank prime lending rate country ranks ]
$8.567 billion (31 December 2011 est.)
country comparison to the world: 78
[see also: Stock of narrow money country ranks ]
$27.74 billion (31 December 2011 est.)
country comparison to the world: 78
[see also: Stock of broad money country ranks ]
$22.1 billion (31 December 2011 est.)
country comparison to the world: 79
[see also: Stock of domestic credit country ranks ]
bananas, sugarcane, coffee, sisal, corn, cotton, manioc (tapioca), tobacco, vegetables, plantains; livestock; forest products; fish
petroleum; diamonds, iron ore, phosphates, feldspar, bauxite, uranium, and gold; cement; basic metal products; fish processing; food processing, brewing, tobacco products, sugar; textiles; ship repair
5% (2010 est.)
country comparison to the world: 68
[see also: Industrial production growth rate country ranks ]
3.944 billion kWh (2008 est.)
country comparison to the world: 120
[see also: Electricity - production country ranks ]
3.365 billion kWh (2008 est.)
country comparison to the world: 125
[see also: Electricity - consumption country ranks ]
0 kWh (2009 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2009 est.)
[see also: Electricity - imports country ranks ]
1.988 million bbl/day (2010 est.)
country comparison to the world: 17
[see also: Oil - production country ranks ]
74,000 bbl/day (2010 est.)
country comparison to the world: 87
[see also: Oil - consumption country ranks ]
1.851 million bbl/day (2009 est.)
country comparison to the world: 14
[see also: Oil - exports country ranks ]
38,280 bbl/day (2009 est.)
country comparison to the world: 96
[see also: Oil - imports country ranks ]
690 million cu m (2009 est.)
country comparison to the world: 65
[see also: Natural gas - production country ranks ]
690 million cu m (2009 est.)
country comparison to the world: 92
[see also: Natural gas - consumption country ranks ]
0 cu m (2009 est.)
country comparison to the world: 53
[see also: Natural gas - exports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 151
[see also: Natural gas - imports country ranks ]
309.8 billion cu m (1 January 2011 est.)
country comparison to the world: 39
[see also: Natural gas - proved reserves country ranks ]
$7.755 billion (2011 est.)
country comparison to the world: 29
[see also: Current account balance country ranks ]
$65.63 billion (2011 est.)
country comparison to the world: 52
[see also: Exports country ranks ]
crude oil, diamonds, refined petroleum products, coffee, sisal, fish and fish products, timber, cotton
China 42.8%, US 23%, India 9.5%, France 4% (2010)
$24.76 billion (2011 est.)
country comparison to the world: 69
[see also: Imports country ranks ]
machinery and electrical equipment, vehicles and spare parts; medicines, food, textiles, military goods
Portugal 17.4%, China 14%, US 9%, Brazil 6.6%, South Africa 6%, France 5.8%, India 5.3% (2010)
$28.3 billion (31 December 2011 est.)
country comparison to the world: 51
[see also: Reserves of foreign exchange and gold country ranks ]
$19.74 billion (31 December 2011 est.)
country comparison to the world: 78
[see also: Debt - external country ranks ]
$101 billion (31 December 2011 est.)
country comparison to the world: 35
[see also: Stock of direct foreign investment - at home country ranks ]
$6.346 billion (31 December 2011 est.)
country comparison to the world: 58
[see also: Stock of direct foreign investment - abroad country ranks ]
kwanza (AOA) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12