Overview: Subsistence agriculture provides the main livelihood for 80 to 90% of the population, but accounts for less than 15% of GDP. Oil production is the most lucrative sector of the economy, contributing about 50% to GDP. In recent years, however, the impact of fighting an internal war has severely affected the nonoil economy, and food has to be imported. For the long run, Angola has the advantage of rich natural resources, notably gold, diamonds, and arable land. To realize its economic potential Angola not only must secure domestic peace but also must reform government policies that have led to distortions and imbalances throughout the economy.

GDP: $7.9 billion, per capita $925; real growth rate 2.0% (1990 est.)

Inflation rate (consumer prices): 23.2% (1988)

Unemployment rate: NA%

Budget: revenues $2.6 billion; expenditures $4.4 billion, including capital expenditures of $963 million (1990 est.)

Exports: $3.8 billion (f.o.b., 1990 est.); commodities--oil,liquified petroleum gas, diamonds, coffee, sisal, fish and fish products, timber, cotton; partners--US, USSR, Cuba, Portugal, Brazil, France

Imports: $1.5 billion (f.o.b., 1990 est.); commodities--capital equipment (machinery and electrical equipment), food, vehicles and spare parts, textiles and clothing, medicines; substantial military deliveries; partners--US, USSR, Cuba, Portugal, Brazil

External debt: $7.0 billion (1990)

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

Electricity: 506,000 kW capacity; 770 million kWh produced, 90 kWh per capita (1989)

Industries: petroleum, diamonds, mining, fish processing, food processing, brewing, tobacco, sugar, textiles, cement, basic metal products

Agriculture: cash crops--coffee, sisal, corn, cotton, sugar, manioc, tobacco; food crops--cassava, corn, vegetables, plantains, bananas; livestock production accounts for 20%, fishing 4%, forestry 2% of total agricultural output; disruptions caused by civil war and marketing deficiencies require food imports

Economic aid: US commitments, including Ex-Im (FY70-89), $265 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $1,005 million; Communist countries (1970-89), $1.3 billion

Currency: kwanza (plural--kwanza); 1 kwanza (Kz) = 100 lwei

Exchange rates: kwanza (Kz) per US$1--29.62 (fixed rate since 1976)

Fiscal year: calendar year

NOTE: The information regarding Angola on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Angola Economy 1991 information contained here. All suggestions for corrections of any errors about Angola Economy 1991 should be addressed to the CIA.