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. 1996 Index
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Angola Economy 1996
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. Despite the signing of a peace
accord in November 1994 between the Angola government and the UNITA
insurgents, sporadic fighting continues and many farmers remain reluctant to
return to their fields. As a result, much of the country's food requirements
must still be imported. Angola has rich natural resources - notably gold,
diamonds, and arable land, in addition to large oil deposits - but will need
to observe the cease-fire, implement the peace agreement, and reform
government policies if it is to achieve its potential.
GDP - purchasing power parity - $6.1 billion (1994 est.)
-
National product real growth rate:
-
National product per capita:
-
Inflation rate (consumer prices):
20% average per month (1994 est.)
15% with considerable underemployment (1993 est.)
$2.5 billion, including capital expenditures of $963 million (1992 est.)
$3 billion (f.o.b., 1993 est.)
oil, diamonds, refined petroleum products, gas, coffee, sisal, fish and fish
products, timber, cotton
US, France, Germany, Netherlands, Brazil
$1.6 billion (f.o.b., 1992 est.)
capital equipment (machinery and electrical equipment), food, vehicles and
spare parts, textiles and clothing, medicines, substantial military
deliveries
Portugal, Brazil, US, France, Spain
$11.7 billion (1994 est.)
growth rate NA%; accounts for about 60% of GDP, including petroleum output
petroleum; mining - diamonds, iron ore, phosphates, feldspar, bauxite,
uranium, and gold; fish processing; food processing; brewing; tobacco;
sugar; textiles; cement; basic metal products
cash crops - bananas, sugarcane, 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
increasingly used as a transshipment point for cocaine destined for Western
Europe
US commitments, including Ex-Im (FY70-89), $265 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $1.105 billion;
Communist countries (1970-89), $1.3 billion; net official disbursements
(1985-89), $750 million
1 new kwanza (NKz) = 100 lwei
new kwanza (NKz) per US$1 - 900,000 (official rate 25 April 1995), 1,900,000
(black market rate 6 April 1995), 600,000 (official rate 10 January 1995),
90,000 (official rate 1 June 1994), 180,000 (black market rate 1 June 1994);
7,000 (official rate 16 December 1993), 50,000 (black market rate 16
December 1993); 3,884 (July 1993); 550 (April 1992); 90 (November 1991); 60
(October 1990)
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