Angola/

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 in late 2007 was assigned a production quota of 1.9 million barrels a day (bbl/day), somewhat less than the 2-2.5 million bbl/day Angola’s government had wanted. 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 15% 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 temporarily stalled economic growth. Lower prices for oil and diamonds during the global recession led to a contraction in GDP 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. Although consumer inflation declined from 325% in 2000 to under 14% in 2010, Luanda has been unable to reduce inflation below 10%. The Angolan kwanza depreciated again in mid 2010, which, along with higher oil prices, should boost economic growth in all sectors. Corruption, especially in the extractive sectors, also is a major challenge.

$114.1 billion (2010 est.)

$107.8 billion (2009 est.)

$108.7 billion (2008 est.)

$85.81 billion (2010 est.)

5.9% (2010 est.)

-0.9% (2009 est.)

13.4% (2008 est.)

$8,700 (2010 est.)

$8,400 (2009 est.)

$8,700 (2008 est.)

7.977 million (2010 est.)

NA

40.5% (2006 est.)

15.9% of GDP (2010 est.)

20.3% of GDP (2010 est.)

21.7% of GDP (2009 est.)

13.3% (2010 est.)

13.7% (2009 est.)

30% (31 December 2009)

19.57% (31 December 2008)

15.68% (31 December 2009 est.)

12.53% (31 December 2008 est.)

$8.74 billion (31 December 2010 est)

$9.792 billion (31 December 2009 est)

$24.92 billion (31 December 2010 est.)

$29.04 billion (31 December 2009 est.)

$17.52 billion (31 December 2010 est.)

$22.06 billion (31 December 2009 est.)

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.)

3.722 billion kWh (2007 est.)

3.173 billion kWh (2007 est.)

0 kWh (2008 est.)

0 kWh (2008 est.)

1.948 million bbl/day (2009 est.)

70,000 bbl/day (2009 est.)

1.407 million bbl/day (2007 est.)

28,090 bbl/day (2007 est.)

13.5 billion bbl (1 January 2010 est.)

680 million cu m (2008 est.)

680 million cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

271.8 billion cu m (1 January 2010 est.)

$2.089 billion (2010 est.)

-$1.668 billion (2009 est.)

$51.65 billion (2010 est.)

$40.08 billion (2009 est.)

crude oil, diamonds, refined petroleum products, coffee, sisal, fish and fish products, timber, cotton

China 35.65%, US 25.98%, France 8.83%, South Africa 4.13% (2009)

$18.1 billion (2010 est.)

$15.74 billion (2009 est.)

machinery and electrical equipment, vehicles and spare parts; medicines, food, textiles, military goods

Portugal 18.71%, China 17.39%, US 8.51%, Brazil 8.22%, South Korea 6.72%, France 4.51%, Italy 4.28%, South Africa 4.02% (2009)

$16.89 billion (31 December 2010 est.)

$13.64 billion (31 December 2009 est.)

$17.98 billion (31 December 2010 est.)

$13.64 billion (31 December 2009 est.)

$91.55 billion (31 December 2010 est.)

$79.88 billion (31 December 2009 est.)

$4.883 billion (31 December 2010 est.)

$3.933 billion (31 December 2009 est.)

kwanza (AOA) per US dollar - 92.08 (2010), 79.328 (2009), 75.023 (2008), 76.6 (2007), 80.4 (2006)