Overview Economy of Angola

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despite abundant natural resources, output per capita among world s lowest. subsistence agriculture provides main livelihood 85% of population. oil production , supporting activities vital economy, contributing 45% gdp , 90% of exports. growth entirely driven rising oil production surpassed 1.4 million barrels per day (220×10^ m/d) in late-2005 , expected grow 2 million barrels per day (320×10^ m/d) 2007. control of oil industry consolidated in sonangol group, conglomerate owned angolan government. revenues booming oil exports, government has started implement ambitious development programs build roads , other basic infrastructure nation.


in last decade of colonial period, angola major african food exporter imports food. severe wartime conditions, including extensive planting of landmines throughout countryside, have brought agricultural activities near-standstill. efforts recover have gone forward, however, notably in fisheries. coffee production, though fraction of pre-1975 level, sufficient domestic needs , exports. expanding oil production half of gdp , 90% of exports, @ 800 thousand barrels per day (130×10^ m/d). diamonds provided of revenue jonas savimbi s unita rebellion through illicit trade. other rich resources await development: gold, forest products, fisheries, iron ore, coffee, , fruits.


this chart of trend of nominal gross domestic product of angola @ market prices using international monetary fund data; figures in millions of units.









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