Friday, October 12, 2012

Angola - Economy

nomy of Angola
Currency Angolan kwanza (AOA)
Fiscal year Calendar year
Trade organisations AU, WTO
Statistics
GDP $99.01 billion (2010 est.)
GDP growth 7.9% (2011 est.)
GDP per capita $9,000 (2011 est.)
GDP by sector agriculture: 9.6%; industry: 65.8%; services: 24.6% (2008 est.)
Inflation (CPI) 13.3% (2010 est.)
Population
below poverty line
40.5% (2006 est.)
Labour force 7.977 million (2010 est.)
Labour force
by occupation
agriculture: 85%; industry and services: 15% (2003 est.)
Average gross salary 10,000 (2011)
Main 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
Ease of Doing Business Rank 172nd
External
Exports $51.65 billion (2010 est.)
Export goods crude oil, diamonds, refined petroleum products, coffee, sisal, fish and fish products, timber, cotton
Main export partners China 35.65%, United States 25.98%, France 8.83%, South Africa 4.13% (2009)
Imports $18.1 billion (2010 est.)
Import goods machinery and electrical equipment, vehicles and spare parts; medicines, food, textiles, military goods
Main import partners Portugal 18.71%, China 17.39%, United States 8.51%, Brazil 8.22%, South Korea 6.72%, France 4.51%, Italy 4.28%, South Africa 4.02% (2009)
Gross external debt $17.98 billion (31 December 2010 est.)
Public finances
Public debt 20.3% of GDP (2010 est.)
Revenues $40.41 billion (2010 est.)
Expenses $37.38 billion (2010 est.)
Economic aid $383.5 million (1999)
Foreign reserves $16.89 billion (31 December 2010 est.)
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, with the Economist asserting that for 2001 to 2010, Angolas' Annual average GDP growth was 11.1
The Economy of Angola is one of the fastest-growing economies in the world,with the Economist asserting that for 2001 to 2010, Angolas' Annual average GDP growth was 11.1 percent. It 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 potential, and rich agricultural land, Angola remains poor, and a third of the population relies on subsistence agriculture. Since 2002, when the 27-year civil war ended, the country has worked to repair and improve ravaged infrastructure and weakened political and social institutions. High international oil prices and rising oil production have led to a very strong economic growth in recent years], but corruption and public-sector mismanagement remain, particularly in the oil sector, which accounts for over 50 percent of GDP, over 90 percent of export revenue, and over 80 percent of government revenue.