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Angola


    • Overview:
      Subsistence agriculture provides the main livelihood for 80%-90% of the population but accounts for less than 15% of GDP. Oil production is vital to the economy, contributing about 60% to GDP. Despite the signing of a peace accord in November 1994 between the Angola government and the UNITA insurgents, sporadic fighting continues and many farmers remain reluctant to return to their fields. As a result, much of the country's food requirements must still be imported. Angola has rich natural resources - notably gold, diamonds, and arable land, in addition to large oil deposits - but will need to observe the cease-fire, implement the peace agreement, and reform government policies if it is to achieve its potential.

    • National product:
      GDP - purchasing power parity - $6.1 billion (1994 est.)

    • National product real growth rate:
      -1% (1994 est.)

    • National product per capita:
      $620 (1994 est.)

    • Inflation rate (consumer prices):
      20% average per month (1994 est.)

    • Unemployment rate:
      15% with considerable underemployment (1993 est.)

    • Budget:

        revenues:
        $928 million

        expenditures:
        $2.5 billion, including capital expenditures of $963 million (1992 est.)

    • Exports:
      $3 billion (f.o.b., 1993 est.)

        commodities:
        oil, diamonds, refined petroleum products, gas, coffee, sisal, fish and fish products, timber, cotton

        partners:
        US, France, Germany, Netherlands, Brazil

    • Imports:
      $1.6 billion (f.o.b., 1992 est.)

        commodities:
        capital equipment (machinery and electrical equipment), food, vehicles and spare parts, textiles and clothing, medicines, substantial military deliveries

        partners:
        Portugal, Brazil, US, France, Spain

    • External debt:
      $11.7 billion (1994 est.)

    • Industrial production:
      growth rate NA%; accounts for about 60% of GDP, including petroleum output

    • Electricity:

        capacity:
        620,000 kW

        production:
        1.9 billion kWh

        consumption per capita:
        189 kWh (1993)

    • Industries:
      petroleum; mining - diamonds, iron ore, phosphates, feldspar, bauxite, uranium, and gold; fish processing; food processing; brewing; tobacco; sugar; textiles; cement; basic metal products

    • Agriculture:
      cash crops - bananas, sugarcane, coffee, sisal, corn, cotton, cane, manioc, tobacco; food crops - cassava, corn, vegetables, plantains; livestock production accounts for 20%, fishing 4%, forestry 2% of total agricultural output

    • Illicit drugs:
      increasingly used as a transshipment point for cocaine destined for Western Europe

    • Economic aid:

        recipient:
        US commitments, including Ex-Im (FY70-89), $265 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $1.105 billion; Communist countries (1970-89), $1.3 billion; net official disbursements (1985-89), $750 million

    • Currency:
      1 new kwanza (NKz) = 100 lwei

    • Exchange rates:
      new kwanza (NKz) per US$1 - 900,000 (official rate 25 April 1995), 1,900,000 (black market rate 6 April 1995), 600,000 (official rate 10 January 1995), 90,000 (official rate 1 June 1994), 180,000 (black market rate 1 June 1994); 7,000 (official rate 16 December 1993), 50,000 (black market rate 16 December 1993); 3,884 (July 1993); 550 (April 1992); 90 (November 1991); 60 (October 1990)

    • Fiscal year:
      calendar year






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