Angola Economy 1995
SOURCE: 1995 CIA WORLD FACTBOOK
Overview: Subsistence agriculture provides the main livelihood for 80-90% of the population but accounts for less than 15% of GDP. Oil production is vital to the economy, contributing about 60% to GDP. Bitter internal fighting continues to severely affect the economy, and food must be imported. In 1993, production fell by an estimated 22.6%, mainly because of the capture by insurgents of the oil town of Soyo and diamond-producing areas in northeastern Angola. Angola has rich natural resources - notably gold, diamonds, and arable land, in addition to large oil depoaits - but will need to end the war and reform government policies if it is to achieve its potential.
National product: GDP - purchasing power equivalent - $5.7 billion (1993 est.)
National product real growth rate: -22.6% (1993 est.)
National product per capita: $600 (1993 est.)
Inflation rate (consumer prices): 1,840% (1993 est.)
Unemployment rate: 15% with considerable underemployment (1993 est.)
$3 billion (f.o.b., 1993 est.)
$1.6 billion (f.o.b., 1992 est.)
External debt: $8 billion (1993 est.)
Industrial production: growth rate NA%; accounts for about 60% of GDP, including petroleum output
Industries: petroleum; mining - diamonds, iron ore, phosphates, feldspar, bauxite, uranium, and gold; fish processing; food processing; brewing; tobacco; sugar; textiles; cement; basic metal products
Agriculture: cash crops - bananas, sugar cane, coffee, sisal, corn, cotton, cane, manioc, tobacco; food crops - cassava, corn, vegetables, plantains ; livestock production accounts for 20%, fishing 4%, forestry 2% of total agricultural output; disruptions caused by civil war, and marketing deficiencies require food imports
1 new kwanza (NKz) = 100 lwei
NOTE: The information regarding Angola on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Angola Economy 1995 information contained here. All suggestions for corrections of any errors about Angola Economy 1995 should be addressed to the CIA.