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Angola is rebuilding its country after the end of a 27-year civil war in 2002. Fighting between the Popular Movement for the Liberation of Angola (MPLA), led by Jose Eduardo DOS SANTOS, and the National Union for the Total Independence of Angola (UNITA), led by Jonas SAVIMBI, followed independence from Portugal in 1975. Peace seemed imminent in 1992 when Angola held national elections, but fighting picked up again by 1996. Up to 1.5 million lives may have been lost - and 4 million people displaced - in the quarter century of fighting. SAVIMBI's death in 2002 ended UNITA's insurgency and strengthened the MPLA's hold on power. President DOS SANTOS held legislative elections in September 2008 and, despite promising to hold presidential elections in 2009, has since pushed through a new constitution that calls for elections in 2012.


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Economy

Economy - overview
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.

Gdp (purchasing power parity) World Ranking: 67
$117.2 billion (2011 est.)
$113.3 billion (2010 est.)
$109.6 billion (2009 est.)
Note Data are in 2011 US dollars

Gdp (official exchange rate)
$100.9 billion (2011 est.)

Gdp - real growth rate World Ranking: 111
3.4% (2011 est.)
3.4% (2010 est.)
2.4% (2009 est.)

Gdp - per capita (ppp) World Ranking: 141
$6,000 (2011 est.)
$5,900 (2010 est.)
$5,900 (2009 est.)
Note Data are in 2011 US dollars

Gdp - composition by sector
Agriculture 9.6%
Industry 65.8%
Services 24.6% (2008 est.)

Labor force World Ranking: 58
8.24 million (2011 est.)

Labor force - by occupation
Agriculture 85%
Industry and services 15% (2003 est.)

Unemployment rate
NA

Population below poverty line
40.5% (2006 est.)

Household income or consumption by percentage share
Lowest 10% 0.6%
Highest 10% 44.7% (2000)

Investment (gross fixed) World Ranking: 141
13.4% of GDP (2011 est.)

Budget
Revenues $42.86 billion
Expenditures $35.29 billion (2011 est.)

Taxes and other revenues World Ranking: 40
42.5% of GDP (2011 est.)

Budget surplus (+) or deficit (-) World Ranking: 13
7.5% of GDP (2011 est.)

Public debt World Ranking: 124
17.4% of GDP (2011 est.)
22.8% of GDP (2010 est.)

Inflation rate (consumer prices) World Ranking: 205
13.5% (2011 est.)
14.5% (2010 est.)

Central bank discount rate World Ranking: 3
25% (31 December 2010 est.)
30% (31 December 2009 est.)

Commercial bank prime lending rate World Ranking: 13
18.76% (31 December 2011 est.)
22.68% (31 December 2010 est.)

Stock of narrow money World Ranking: 72
$12.19 billion (31 December 2011 est.)
$9.384 billion (31 December 2010 est.)

Stock of broad money World Ranking: 75
$36.8 billion (31 December 2011 est.)
$28.35 billion (31 December 2010 est.)

Stock of domestic credit World Ranking: 81
$22.18 billion (31 December 2011 est.)
$19.27 billion (31 December 2010 est.)

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

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

Industrial production growth rate World Ranking: 65
5% (2010 est.)

Electricity - production World Ranking: 119
3.944 billion kWh (2008 est.)

Electricity - consumption World Ranking: 127
3.365 billion kWh (2008 est.)

Electricity - exports
0 kWh (2009 est.)

Electricity - imports
0 kWh (2009 est.)

Oil - production World Ranking: 17
1.988 million bbl/day (2010 est.)

Oil - consumption World Ranking: 85
74,000 bbl/day (2010 est.)

Oil - exports World Ranking: 14
1.851 million bbl/day (2009 est.)

Oil - imports World Ranking: 94
38,280 bbl/day (2009 est.)

Oil - proved reserves World Ranking: 18
9.5 billion bbl (1 January 2011 est.)

Natural gas - production World Ranking: 65
690 million cu m (2009 est.)

Natural gas - consumption World Ranking: 91
690 million cu m (2009 est.)

Natural gas - exports World Ranking: 52
0 cu m (2009 est.)

Natural gas - imports World Ranking: 148
0 cu m (2009 est.)

Natural gas - proved reserves World Ranking: 39
309.8 billion cu m (1 January 2011 est.)

Current account balance World Ranking: 23
$13.82 billion (2011 est.)
$7.421 billion (2010 est.)

Exports World Ranking: 52
$65.69 billion (2011 est.)
$50.59 billion (2010 est.)

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

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

Imports World Ranking: 73
$21.74 billion (2011 est.)
$16.67 billion (2010 est.)

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

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

Reserves of foreign exchange and gold World Ranking: 51
$28.35 billion (31 December 2011 est.)
$19.75 billion (31 December 2010 est.)

Debt - external World Ranking: 79
$18.16 billion (31 December 2011 est.)
$18.56 billion (31 December 2010 est.)

Stock of direct foreign investment - at home World Ranking: 37
$101.9 billion (31 December 2011 est.)
$89.31 billion (31 December 2010 est.)

Stock of direct foreign investment - abroad World Ranking: 57
$6.346 billion (31 December 2011 est.)
$5.096 billion (31 December 2010 est.)

Exchange rates
Kwanza (AOA) per US dollar -
93.741 (2011 est.)
91.906 (2010 est.)
79.33 (2009)
75.023 (2008)
76.6 (2007)

Fiscal year
Calendar year


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  Angola (Luanda):


  GPS points from Angola (Luanda)

Lungonza Malanje

Ulongue Provincia De Benguela

Maca-ia-mupa Provincia Do Cuanza Sul

Mujomba Provincia De Benguela

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Cha Mucengue Provincia Do Bie

Pingo Provincia Do Zaire

Konko Provincia Do Zaire




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