The economic architecture of Angola is substantial, anchored by a Gross Domestic Product (GDP) of approximately $84.82B
2023
. This places it as the 72nd largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $2.31K
2023
, while its GDP adjusted for Purchasing Power Parity (PPP) is estimated at $295.5B, offering a clearer picture of the population's domestic purchasing power. The economy is navigating a period of modest growth, recorded at 1.0%
2023
, though this rapid growth is shadowed by high inflation, with the Consumer Price Index (CPI) reaching 28.2%, suggesting the economy may be overheating.
2024
On the global stage, Angola's trade and financial dynamics reveal a complex interplay of international and domestic factors. The country maintains a strong export-oriented economy, reflected in a significant trade surplus, with exports representing 40.9% of GDP compared to imports at 26.2%
2023
. The investment climate attracts significant Foreign Direct Investment (FDI), with inflows constituting -2.50% of the economy
2023
. This performance positions the country 175th globally out of 186 nations, confirming its status as a competitive destination for foreign capital. Furthermore, personal remittances from its diaspora are a vital component of the economy, amounting to a substantial $12.07M annually
2023
. The government operates under fiscal constraints, with a limited tax base that generates revenue equivalent to only 10.1% of GDP.
2019
The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $2,120
2023
, ranking the nation 145th out of 190. This figure provides a comprehensive measure of the average income per person, reflecting the nation's overall economic well-being. The country confronts significant labor market challenges, evidenced by a high unemployment rate of 14.5%.
2024
A key feature of the workforce is its concentration in the services sector, which accounts for 38.2% of total employment
2023
. Despite its economic standing, poverty remains a salient issue, with 32.3% of the population living below the national poverty line
2018
. Wealth distribution is a major societal challenge, indicated by a high Gini index of 51.3, pointing to severe income inequality.
2018
In the environmental and energy sectors, the nation's policies and outcomes reflect its developmental priorities. Energy consumption per capita stands at 423.123 kg of oil equivalent
2022
, a metric that often correlates with industrial activity and living standards. The country is at the forefront of the global green transition, with renewable sources constituting a remarkable 52.9% of total final energy consumption
2021
. This commitment places it 146th among 190 countries, highlighting its relative progress in decarbonization. Total greenhouse gas emissions were last recorded at 67.7K tonnes of CO2 equivalent
2023
, a key factor in its national climate strategy and international obligations.

Key Economic Insights

Macroeconomic Health

Rampant inflation is the most urgent economic threat, eroding purchasing power, destabilizing markets, and complicating policy choices.

Trade & Investment Profile

The orientation towards global trade and foreign investment is a defining feature of the economic landscape.

Social Equity & Distribution

Critical levels of poverty and extreme income inequality present fundamental obstacles to sustainable development and social cohesion.

Energy & Sustainability

A global leader in the green transition, the country leverages its strong commitment to renewable energy as a key economic and diplomatic advantage.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.