Angola's high growth rate in recent years was driven by high international prices for its oil. Angola became a member of OPEC in late 2006 and its current assigned a production quota of 1.65 million barrels a day (bbl/day). Oil production and its supporting activities contribute about 85% of GDP. Diamond exports contribute an additional 5%. Subsistence agriculture provides the main livelihood for most of the people, but half of the country''s food is still imported. Increased oil production supported growth averaging more than 17% per year from 2004 to 2008. A postwar reconstruction boom and resettlement of displaced persons has led to high rates of growth in construction and agriculture as well. Much of the country''s infrastructure is still damaged or undeveloped from the 27-year-long civil war. Land mines left from the war still mar the countryside, even though peace was established after the death of rebel leader Jonas SAVIMBI in February 2002. Since 2005, the government has used billions of dollars in credit lines from China, Brazil, Portugal, Germany, Spain, and the EU to rebuild Angola''s public infrastructure. The global recession that started in 2008 temporarily stalled economic growth. Lower prices for oil and diamonds during the global recession slowed GDP growth to 2.4% in 2009 and to 3.4% in 2010, and many construction projects stopped because Luanda accrued $9 billion in arrears to foreign construction companies when government revenue fell in 2008 and 2009. Angola abandoned its currency peg in 2009, and in November 2009 signed onto an IMF Stand-By Arrangement loan of $1.4 billion to rebuild international reserves. Consumer inflation declined from 325% in 2000 to 14% in 2011. Higher oil prices in 2011, helped Angola climb turn a budget deficit of 8.6% of GDP in 2009 into an surplus of 7.5% of GDP in 2010. Corruption, especially in the extractive sectors, also is a major challenge.

$12.19 billion (31 December 2011 est.)

$9.384 billion (31 December 2010 est.)

$36.8 billion (31 December 2011 est.)

$28.35 billion (31 December 2010 est.)

$22.18 billion (31 December 2011 est.)

$19.27 billion (31 December 2010 est.)

Bananas, sugarcane, coffee, sisal, corn, cotton, cassava (manioc), tobacco, vegetables, plantains; livestock; forest products; fish

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

1.988 million bbl/day (2010 est.)

1.851 million bbl/day (2009 est.)

9.5 billion bbl (1 January 2011 est.)

309.8 billion cu m (1 January 2011 est.)

Crude oil, diamonds, refined petroleum products, coffee, sisal, fish and fish products, timber, cotton

China 37.7%, US 21%, India 9.5%, Canada 4.1% (2011)

Machinery and electrical equipment, vehicles and spare parts; medicines, food, textiles, military goods

Portugal 20.4%, China 17.7%, US 9.5%, Brazil 6.8%, South Africa 6.1%, France 5%, India 4.4% (2011)

$28.35 billion (31 December 2011 est.)

$19.75 billion (31 December 2010 est.)

$18.16 billion (31 December 2011 est.)

$18.56 billion (31 December 2010 est.)

$101.9 billion (31 December 2011 est.)

$89.31 billion (31 December 2010 est.)

$6.346 billion (31 December 2011 est.)

$5.096 billion (31 December 2010 est.)