Thursday, October 11, 2012

Angola - Industry

Petroleum and diamond are the major Angola industry sectors. They contribute more than 90% to the country's GDP and export volume. Agriculture and fishing industries are also popular as they engage majority of the Angolan population.Angola Industry Sectors: History
Angola was the popular slave trade market for the Portuguese and Dutch during the colonial era. Portugal administration discovered oil reserves in Angola in 1955. Large-scale oil and coffee production helped the country in achieving sustainable economic growth. Angola also had industries for food processing, electrical products, construction material, chemical, vehicle assembly and metallurgy. After attaining independence in 1975, the country entered into 26 long years of civil war that left Angola's economy in a state of jeopardy.

  • Agriculture: Angola's climate is favorable for tropical and semi-tropical crops. This, coupled with the fertile land of the region allows the growth of several cash crops. Coffee, tobacco, sunflower, timber and banana are the major crops of the country. Although, the GDP share of the agriculture has decreased since 2003, it engages more than half of the population. 
  • Fishing: Angola has a developed fishing industry with considerable foreign investment. The fishing industry is completely liberalized and the government no longer regulates the pricing policy