Angola Economic Statistics and Indicators
04, Jul 2015, EDT. Welcome to the Angola economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.
Economic Indicators For: Angola › Change country
National or Regional Currency: New Kwanza, AON
Year of data: 2014 › Change year
Number of Indicators Listed: 35
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 19,088,106 (July 2014 est.)
Area: total: 1,246,700 sq km ; land: 1,246,700 sq km ; water: 0 sq km
Natural Resources: petroleum, diamonds, iron ore, phosphates, copper, feldspar, gold, bauxite, uranium
Capital: name: Luanda ; geographic coordinates: 8 50 S, 13 13 E ; time difference: UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
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 its current assigned a production quota of 1.65 million barrels a day (bbl/day). 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 17% 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 that started in 2008 temporarily stalled economic growth. Lower prices for oil and diamonds during the global recession slowed GDP growth to 2.4% 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 $1.4 billion to rebuild international reserves. Consumer inflation declined from 325% in 2000 to about 10% in 2012. Higher oil prices have helped Angola turn a budget deficit of 8.6% of GDP in 2009 into an surplus of 12% of GDP in 2012. Corruption, especially in the extractive sectors, also is a major challenge.
More on the Angola Economy
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GDP (Constant Prices, National Currency) for Angola in year 2014 is AON 1,624.81 Billion.
GDP (Current Prices, National Currency) for Angola in year 2014 is AON 12,917.42 Billion.
GDP (Current Prices, US Dollars) for Angola in year 2014 is US$ 131.407 Billion.
GDP Deflator for Angola in year 2014 is 795.009 (Index, Base Year as per country's accounts = 100).
GDP Per Capita (Constant Prices, National Currency) for Angola in year 2014 is AON 75,769.23 .
GDP Per Capita (Current Prices, National Currency) for Angola in year 2014 is AON 602,372.25 .
GDP Per Capita (Current Prices, US Dollars) for Angola in year 2014 is US$ 6,127.83 .
GDP (PPP), US Dollars for Angola in year 2014 is US$ 175.54 Billion.
GDP Per Capita (PPP), US Dollars for Angola in year 2014 is US$ 8,185.88 .
Investment (% of GDP) for Angola in year 2014 is 14.759 %.
Inflation, Average Consumer Prices (Indexed to Year 2000) for Angola in year 2014 is 135.915 (Index, Base Year 2000 = 100).
Inflation, End of Year (Indexed to Year 2000) for Angola in year 2014 is 140.406 (Index, Base Year 2000 = 100).
Population for Angola in year 2014 is 21.444 Million .
General government revenue (National Currency) for Angola in year 2014 is AON 4,840.85 Billions.
General government total expenditure (National Currency) for Angola in year 2014 is AON 5,370.63 Billions.
Total Government Net Lending/ Borrowing (National Currency) for Angola in year 2014 is AON -529.783 Billions.
Fiscal Year Gross Domestic Product, Current Prices for Angola in year 2014 is AON 12,917.42 Billions.
Current Account Balance (US Dollars) for Angola in year 2014 is US$ 5.396 Billion.
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Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International