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Angola

Angola is still rebuilding its country since the end of a 27-year civil war in 2002. Fighting between the Popular Movement for the Liberation of Angola (MPLA), led by Jose Eduardo DOS SANTOS, and the National Union for the Total Independence of Angola (UNITA), led by Jonas SAVIMBI, followed independence from Portugal in 1975. Peace seemed imminent in 1992 when Angola held national elections, but fighting picked up again in 1993.

Up to 1.5 million lives may have been lost – and 4 million people displaced – during the more than a quarter century of fighting. SAVIMBI’s death in 2002 ended UNITA’s insurgency and cemented the MPLA’s hold on power. President DOS SANTOS pushed through a new constitution in 2010; elections held in 2012 saw him installed as president. Angola assumed a nonpermanent seat on the UN Security Council for the 2015-16 term.

Angola’s economy is overwhelmingly driven by its oil sector. Oil production and its supporting activities contribute about 50% of GDP, more than 70% of government revenue, and more than 90% of the country’s exports. Diamonds contribute an additional 5% to exports. 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. Some of the country’s infrastructure is still damaged or undeveloped from the 27-year-long civil war. However, the government since 2005 has used billions of dollars in credit lines from China, Brazil, Portugal, Germany, Spain, and the EU to help rebuild Angola’s public infrastructure.

Land mines left from the war still mar the countryside, and as a result, the national military, international partners, and private Angolan firms all continue to remove them.

The global recession that started in 2008 stalled economic growth. In particular, 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 formally 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 less than 9% in 2014. n 2014, Depressed global oil prices in 2014 have reduced GDP growth and put significant pressure on the budget. Corruption, especially in the extractive sectors, also is a major challenge.

Angola GDP (purchasing power parity):
$175.5 billion (2014 est.)
$168.9 billion (2013 est.)
$158.1 billion (2012 est.)
note: data are in 2014 US dollars
country comparison to the world: 65

Angola GDP (official exchange rate):
$131.4 billion (2014 est.)

Angola GDP – real growth rate:
3.9% (2014 est.)
6.8% (2013 est.)
5.2% (2012 est.)
* country comparison to the world: 73

Angola GDP – per capita (PPP):
$8,200 (2014 est.)
$8,100 (2013 est.)
$7,800 (2012 est.)
note: data are in 2013 US dollars
country comparison to the world: 141

Angola Gross national saving:
18.9% of GDP (2014 est.)
20.2% of GDP (2013 est.)
26.6% of GDP (2012 est.)
country comparison to the world: 88

Angola GDP – composition, by end use:
household consumption: 49.7%
government consumption: 20.6%
investment in fixed capital: 11.9%
investment in inventories: 0%
exports of goods and services: 59.5%
imports of goods and services: -41.7%
(2014 est.)

Angola GDP – composition, by sector of origin:
agriculture: 10.2%
industry: 61.4%
services: 28.4%
(2014 est.)

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

Angola 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

Angola Industrial production growth rate:
3.8% (2014 est.)
* country comparison to the world: 77

Angola Labor force:
9.298 million (2014 est.)
* country comparison to the world: 53

Angola Labor force – by occupation:
agriculture: 85%
industry and services: 15%
(2003 est.)

Unemployment rate:
NA%

Population below poverty line:
40.5% (2006 est.)

Household income or consumption by percentage share:
lowest 10%: 0.6%
highest 10%: 44.7% (2000)

Budget:
revenues: $51.51 billion
expenditures: $57.7 billion (2014 est.)

Taxes and other revenues:
39.2% of GDP (2014 est.)
country comparison to the world: 42

Budget surplus (+) or deficit (-):
-4.7% of GDP (2014 est.)
country comparison to the world: 159

Public debt:
13.9% of GDP (2014 est.)
15% of GDP (2013 est.)
country comparison to the world: 146

Fiscal year:
calendar year

Inflation rate (consumer prices):
7.5% (2014 est.)
8.8% (2013 est.)

Central bank discount rate:
9% (31 December 2014)
25% (31 December 2010)
* country comparison to the world: 30

Commercial bank prime lending rate:
15.2% (31 December 2014 est.)
15.8% (31 December 2013 est.)
* country comparison to the world: 37

Stock of narrow money:
$29.55 billion (31 December 2014 est.)
$26.52 billion (31 December 2013 est.)
country comparison to the world: 64

Stock of broad money:
$51.71 billion (31 December 2014 est.)
$45.06 billion (31 December 2013 est.)
* country comparison to the world: 67

Stock of domestic credit:
$24.16 billion (31 December 2014 est.)
$23.33 billion (31 December 2013 est.)
country comparison to the world: 80

Current account balance:
$4.3 billion (2014 est.)
$8.348 billion (2013 est.)
country comparison to the world: 35

Exports:
$69.46 billion (2014 est.)
$67.14 billion (2013 est.)
* country comparison to the world: 50

Exports – partners:
China 44.7%, US 12.3%, India 9.5%, South Africa 5.1%, Portugal 4.9%, Spain 4% (2013)

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

Imports:
$28.05 billion (2014 est.)
$26.09 billion (2013 est.)
country comparison to the world: 69

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

Imports – partners:
Portugal 19.5%, China 19.1%, US 7%, South Africa 6.9%, Brazil 6.1%, South Korea 6% (2013)

Reserves of foreign exchange and gold:
$33.59 billion (31 December 2014 est.)
$32.78 billion (31 December 2013 est.)
country comparison to the world: 50

Debt – external:
$22.93 billion (31 December 2014 est.)
$22.41 billion (31 December 2013 est.)
country comparison to the world: 80

Stock of direct foreign investment – at home:
$8.561 billion (31 December 2014 est.)
$5.137 billion (31 December 2013 est.)
country comparison to the world: 91

Stock of direct foreign investment – abroad:
$16 billion (31 December 2014 est.)
$12.87 billion (31 December 2013 est.)
country comparison to the world: 51

Exchange rates:
kwanza (AOA) per US dollar –
98.15 (2014 est.)
96.5 (2013 est.)
95.47 (2012 est.)
93.74 (2011 est.)
91.91 (2010 est.)

Location:
Southern Africa, bordering the South Atlantic Ocean, between Namibia and Democratic Republic of the Congo

Geographic coordinates:
12 30 S, 18 30 E

Map references:
Africa

Area:
total: 1,246,700 sq km
land: 1,246,700 sq km
water: 0 sq km
* country comparison to the world: 23

Area – comparative:
slightly less than twice the size of Texas

Land boundaries:
total: 5,369 km
border countries (4): Democratic Republic of the Congo 2,646 km (of which 225 km is the boundary of discontiguous Cabinda Province), Republic of the Congo 231 km, Namibia 1,427 km, Zambia 1,065 km

Coastline:
1,600 km

Maritime claims:
territorial sea: 12 nm
contiguous zone: 24 nm
exclusive economic zone: 200 nm

Climate:
semiarid in south and along coast to Luanda; north has cool, dry season (May to October) and hot, rainy season (November to April)

Terrain:
narrow coastal plain rises abruptly to vast interior plateau

Elevation extremes:
lowest point: Atlantic Ocean 0 m
highest point: Moca 2,620 m

Natural resources:
gold, chromium, antimony, coal, iron ore, manganese, nickel, phosphates, tin, rare earth elements, uranium, gem diamonds, platinum, copper, vanadium, salt, natural gas

Land use:
agricultural land: 47.3%
arable land 3.8%; permanent crops 0.2%; permanent pasture 43.3%
forest: 46.8%
other: 5.9%
(2011 est.)

Irrigated land:
855.3 sq km (2005)

Total renewable water resources:
148 cu km (2011)

Freshwater withdrawal (domestic/industrial/agricultural):
total: 0.71 cu km/yr (45%/34%/21%)
per capita: 40.27 cu m/yr (2005)

Natural hazards:
locally heavy rainfall causes periodic flooding on the plateau

Environment – current issues:
overuse of pastures and subsequent soil erosion attributable to population pressures; desertification; deforestation of tropical rain forest, in response to both international demand for tropical timber and to domestic use as fuel, resulting in loss of biodiversity; soil erosion contributing to water pollution and siltation of rivers and dams; inadequate supplies of potable water

Environment – international agreements:
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution
signed, but not ratified: none of the selected agreements

Geography – note:
the province of Cabinda is an exclave, separated from the rest of the country by the Democratic Republic of the Congo

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