| Economy - overview: | Angola's high growth rate is driven by its oil sector, but record oil prices and rising petroleum production have occurred without improved performance in other parts of the economy. Oil production and its supporting activities, contribute about 45% to GDP and more than half of exports, and much of the country's infrastructure is still damaged or undeveloped from the 22 year-long civil war. Remnants of the conflict such as widespread land mines still mar the countryside even though an apparently durable peace has been established after the death of rebel leader Jonas SAVIMBI in February 2002. Subsistence agriculture provides the main livelihood for 85% of the population, but much of the country's food must still be imported. In 2005, the government started using a $2 billion line of credit from China to rebuild Angola's public infrastructure, and several large-scale projects are scheduled for completion by 2006. The central bank in 2003 implemented an exchange rate stabilization program using foreign exchange reserves to buy kwanzas out of circulation, a policy that was more sustainable in 2005 because of strong oil export earnings, and has significantly reduced inflation. Consumer inflation declined from 325% in 2000 to about 18% in 2005, but the stabilization policy places pressure on international net liquidity. To fully take advantage of its rich national resources - gold, diamonds, extensive forests, Atlantic fisheries, and large oil deposits - Angola will need to continue reforming government policies and to reduce corruption. The government has made sufficient progress on reforms recommended by the IMF, such as promoting greater transparency in government spending, and continues to be without a formal monitoring agreement with the institution. Increased oil production supported 12% growth in 2004 and 14% growth in 2005. |
| GDP - per capita | $2,500 (2005 est.) |
| GDP - real growth rate (%) | 14.1% (2005 est.) |
| Agriculture - products | bananas, sugarcane, coffee, sisal, corn, cotton, manioc (tapioca), tobacco, vegetables, plantains; livestock; forest products; fish |
| GDP - composition by sector (%) | agriculture: 8%, industry: 67%, services: 25% (2001 est.) |
| 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 |
| Economic aid - recipient | $383.5 million (1999) |
| Debt - external | $9.879 billion (2005 est.) |
| Population below poverty line (%) | 70% (2003 est.) |
| Labor force - by occupation (%) | agriculture 85%, industry and services 15% (2003 est.) |
Environment, Land use / Resources, Economy, Population / Demographics, Infrastructure, Health -- CIA World Factbook, 2005
