Countries
Angola
Key Economic Indicators
$383.35 billion
$10,119
4.42%
28.24%
14.11%
$80.397 billion (2024 est.)
75.3% of GDP (2016 est.)
$6.31 billion
Economic Overview
middle-income, oil-dependent African economy; widespread poverty; rising inflation and currency depreciation; seeking diversification through agricultural production; significant corruption in public institutions; major infrastructure investments from China and US; exited OPEC in 2023
All Economic Data
Agricultural products
cassava, bananas, maize, sweet potatoes, sugarcane, tomatoes, pineapples, onions, potatoes, citrus fruits (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Average household expenditures
On alcohol and tobacco:
1.4% of household expenditures (2023 est.)
On food:
50% of household expenditures (2023 est.)
Budget
Expenditures:
$13.871 billion (2019 est.)
Note:
<b>note:</b> central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated
Revenues:
$18.117 billion (2019 est.)
Currency
code:
AOA
name:
Angolan kwanza (AOA) [Kz]
Current account balance
$6.31 billion
Current account balance 2022:
$11.763 billion (2022 est.)
Current account balance 2023:
$4.185 billion (2023 est.)
Current account balance 2024:
$6.31 billion (2024 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Debt - external
$58.73 billion
Debt - external 2023:
$45.299 billion (2023 est.)
Note:
<b>note:</b> present value of external debt in current US dollars
Exchange rates
Currency:
kwanza (AOA) per US dollar -
Exchange rates 2020:
578.259 (2020 est.)
Exchange rates 2021:
631.442 (2021 est.)
Exchange rates 2022:
460.568 (2022 est.)
Exchange rates 2023:
685.02 (2023 est.)
Exchange rates 2024:
869.846 (2024 est.)
Exports
$31.8 billion
Exports 2022:
$50.12 billion (2022 est.)
Exports 2023:
$36.961 billion (2023 est.)
Exports 2024:
$36.924 billion (2024 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
crude petroleum, diamonds, natural gas, ships, refined petroleum (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
China 40%, India 9%, UAE 6%, Spain 6%, Netherlands 5% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$-1,109,663,097
GDP - composition, by end use
Exports of goods and services:
37.9% (2024 est.)
Government consumption:
6.3% (2024 est.)
Household consumption:
55.3% (2024 est.)
Imports of goods and services:
-24.4% (2024 est.)
Investment in fixed capital:
25% (2024 est.)
Investment in inventories:
0% (2024 est.)
Note:
<strong>note:</strong> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
16.4% (2024 est.)
Industry:
44.2% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
39.3% (2024 est.)
GDP (official exchange rate)
$80.397 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$2,666
Gini Index coefficient - distribution of family income
51.3 (2018)
Gini Index coefficient - distribution of family income 2018:
51.3 (2018 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$94.41 billion
GNI per capita
$2,840
Gross domestic investment
10 % of GDP
Household income or consumption by percentage share
Highest 10%:
39.6% (2018 est.)
Lowest 10%:
1.3% (2018 est.)
Note:
<b>note:</b> % share of income accruing to lowest and highest 10% of population
Imports
$19.55 billion
Imports 2022:
$28.564 billion (2022 est.)
Imports 2023:
$23.688 billion (2023 est.)
Imports 2024:
$22.683 billion (2024 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
refined petroleum, wheat, ships, cars, trucks (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
China 19%, Portugal 10%, UAE 7%, India 6%, USA 5% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
5% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
petroleum; diamonds, iron ore, phosphates, feldspar, bauxite, uranium, and gold; cement; basic metal products; fish processing; food processing, brewing, tobacco products, sugar; textiles; ship repair
Inflation rate (consumer prices)
28.24%
Inflation rate (consumer prices) 2022:
21.4% (2022 est.)
Inflation rate (consumer prices) 2023:
13.6% (2023 est.)
Inflation rate (consumer prices) 2024:
28.2% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
15.961 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
16.32 million persons
Labor force - by occupation
agriculture:
51.95%
industry:
7.2%
services:
40.85%
Population below poverty line
32.3% (2018 est.)
note:
<b>note:</b> % of population with income below national poverty line
Public debt
Public debt 2016:
75.3% of GDP (2016 est.)
Real GDP (purchasing power parity)
$383.35 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$263.61 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$266.452 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$278.239 billion (2024 est.)
Real GDP growth rate
4.42%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
3% (2022 est.)
Real GDP growth rate 2023:
1.1% (2023 est.)
Real GDP growth rate 2024:
4.4% (2024 est.)
Real GDP per capita
$10,119
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$7,400 (2022 est.)
Real GDP per capita 2023:
$7,300 (2023 est.)
Real GDP per capita 2024:
$7,300 (2024 est.)
Remittances
$51.04 million
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2022:
0% of GDP (2022 est.)
Remittances 2023:
0% of GDP (2023 est.)
Remittances 2024:
0% of GDP (2024 est.)
Reserves of foreign exchange and gold
$14.24 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022:
$13.655 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$13.942 billion (2023 est.)
Reserves of foreign exchange and gold 2024:
$14.243 billion (2024 est.)
Revenue (excl grants)
19 % of GDP
Tax revenue
8 % of GDP
Taxes and other revenues
10.1% (of GDP) (2019 est.)
note:
<b>note:</b> central government tax revenue as a % of GDP
Unemployment rate
14.11%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
14.7% (2022 est.)
Unemployment rate 2023:
14.6% (2023 est.)
Unemployment rate 2024:
14.5% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
25.7% (2024 est.)
Male:
30.2% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
27.9% (2024 est.)
World Bank Indicators
Currency
Angolan kwanza (AOA) Kz (2025)
Exports (US$)
$31.80B (2024)
External Debt
$58.73B (2024)
FDI Net Inflows (US$)
-1,109,663,097.06 (2024)
GDP Growth (%)
4.42 (2024)
Gdp Nominal
$101.00B (2024)
GDP Per Capita
2,666 (2024)
Gini Index
51.30 (2018)
Imports (US$)
$19.55B (2024)
Inflation Rate (%)
28.24 (2024)
Languages
Portuguese (2025)
Reserves
$14.24B (2024)
Unemployment Rate (%)
14.02 (2024)
Youth Unemployment
26.74 (2024)
Economic Rankings
Gini Index
#13
Unemployment Rate
#21
Inflation Rate
#26
External Debt
#26
GDP (PPP)
#57
Exports
#65
Reserves
#71
GDP (Nominal)
#80
Imports
#83
GDP Growth Rate
#111
GDP per Capita
#129
Quick Facts
Industries
petroleum; diamonds, iron ore, phosphates, feldspar, bauxite, uranium, and gold; cement; basic metal products; fish processing; food processing, brewing, tobacco products, sugar; textiles; ship repair
Agricultural products
cassava, bananas, maize, sweet potatoes, sugarcane, tomatoes, pineapples, onions, potatoes, citrus fruits (2023)
Labor force
15.961 million (2024 est.)
Exports - partners
China 40%, India 9%, UAE 6%, Spain 6%, Netherlands 5% (2023)
Imports - partners
China 19%, Portugal 10%, UAE 7%, India 6%, USA 5% (2023)
Exchange rates
kwanza (AOA) per US dollar -
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