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Angola Economy 2013

SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES











Angola Economy 2013
SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 20, 2013

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 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 about 10% in 2012. Higher oil prices have helped Angola turn a budget deficit of 8.6% of GDP in 2009 into an surplus of 12% of GDP in 2012. Corruption, especially in the extractive sectors, also is a major challenge.

GDP (purchasing power parity):
$126.2 billion (2012 est.)
country comparison to the world: 66

$118.1 billion (2011 est.)
$113.7 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$114.8 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
6.8% (2012 est.)
country comparison to the world: 30

3.9% (2011 est.)
3.4% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$6,200 (2012 est.)
country comparison to the world: 140

$6,000 (2011 est.)
$6,000 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 9.6%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 65.8%
services: 24.6% (2008 est.)

Labor force:
8.468 million (2012 est.)
country comparison to the world: 57
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 85%
[see also: Labor force - by occupation - agriculture country ranks ]
industry and services: 15% (2003 est.)

Unemployment rate:
NA
[see also: Unemployment rate country ranks ]

Population below poverty line:
40.5% (2006 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 0.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 44.7% (2000)

Investment (gross fixed):
13.3% of GDP (2012 est.)
country comparison to the world: 143
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $56.07 billion
[see also: Budget revenues country ranks ]
expenditures: $42.26 billion (2012 est.)

Taxes and other revenues:
48.8% of GDP (2012 est.)
country comparison to the world: 21
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
12% of GDP (2012 est.)
country comparison to the world: 6
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
17.1% of GDP (2012 est.)
country comparison to the world: 133

18.1% of GDP (2011 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
10.3% (2012 est.)
country comparison to the world: 199

13.5% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
25% (31 December 2010 est.)
country comparison to the world: 3

30% (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
16% (31 December 2012 est.)
country comparison to the world: 21

18.76% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$12.93 billion (31 December 2012 est.)
country comparison to the world: 72

$11.58 billion (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$44.65 billion (31 December 2012 est.)
country comparison to the world: 69

$36.55 billion (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$27.12 billion (31 December 2012 est.)
country comparison to the world: 73

$22.18 billion (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Agriculture - products:
bananas, sugarcane, coffee, sisal, corn, cotton, cassava (manioc), tobacco, vegetables, plantains; livestock; forest products; fish

Industries:
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

Industrial production growth rate:
5% (2010 est.)
country comparison to the world: 66
[see also: Industrial production growth rate country ranks ]

Current account balance:
$17.09 billion (2012 est.)
country comparison to the world: 22

$15.92 billion (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$71.95 billion (2012 est.)
country comparison to the world: 50

$65.8 billion (2011 est.)
[see also: Exports country ranks ]

Exports - commodities:
crude oil, diamonds, refined petroleum products, coffee, sisal, fish and fish products, timber, cotton

Exports - partners:
China 38.1%, US 21.2%, India 9.2%, Canada 4.2% (2011)

Imports:
$22.32 billion (2012 est.)
country comparison to the world: 74

$19.75 billion (2011 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and electrical equipment, vehicles and spare parts; medicines, food, textiles, military goods

Imports - partners:
Portugal 20.5%, China 17.8%, US 9.6%, Brazil 6.9%, South Africa 5.7%, France 5.1% (2011)

Reserves of foreign exchange and gold:
$34.63 billion (31 December 2012 est.)
country comparison to the world: 47

$27.01 billion (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$19.65 billion (31 December 2012 est.)
country comparison to the world: 80

$18.78 billion (31 December 2011 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$115.5 billion (31 December 2012 est.)
country comparison to the world: 36

$101.9 billion (31 December 2011 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$8.196 billion (31 December 2012 est.)
country comparison to the world: 54

$6.346 billion (31 December 2011 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
kwanza (AOA) per US dollar -

95.54 (2012 est.)
93.741 (2011 est.)
91.906 (2010 est.)
79.33 (2009)
75.023 (2008)

Fiscal year:
calendar year


NOTE: 1) The information regarding Angola on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Angola Economy 2013 information contained here. All suggestions for corrections of any errors about Angola Economy 2013 should be addressed to the CIA.
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






This page was last modified 11-Mar-13
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