Angola: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Upper Middle Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | Oil production accounts for 85% of the country's GDP. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2018): China, India, and Portugal |
| Top Industries Source: CIA World Factbook | Petroleum; Diamonds; Iron Ore; Phosphates |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $218,533,343,590 (2018) |
| GDP Growth Rate (annual %) | -2.133% (2018) |
| GDP Per Capita, PPP (current international) | $7,093 (2018) |
GDP Country Rank 65/196 (2018)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 17.145% (2019) |
| External debt stocks, total (DOD, current US$) | $54,563,366,501 (2018) |
| Total tax rate (% of commercial profits) | 49.1% (2019) |
| Real Interest Rate (5 year average %) | -10.507% (2018) |
| Manufacturing, value added (% of GDP) | 6.581% (2017) |
| Current Account Balance (BoP, current US$) | $7,402,606,519 (2018) |
Labor and Employment [1]
| Labor Force, Total | 13,164,510 (2019) |
| Employment in Agriculture (% of total employment) | 50.38% (2019) |
| Employment in Industry (% of total employment) | 8.122% (2019) |
| Employment in Services (% of total employment) | 41.498% (2019) |
| Unemployment Rate | 6.886% (2019) |
Trade [1]
| Imports of goods and services (current US$) | $28,397,112,166 (2017) |
| Exports of goods and services (current US$) | $35,420,915,617 (2017) |
| Total Merchandise Trade (% of GDP) | 53.48% (2018) |
| FDI, net inflows (BoP, current US$) | ($6,456,076,413) (2018) |
| Commercial Service Exports (current US$) | $631,124,523 (2018) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Angola’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.