Angola/Economy

Economy of Angola

An overview of key economic indicators. Select a category for detailed trends, charts, and insights.

Explore Economic Domains

Growth & Output

Coming Soon
GDP (USD)
$84.8B(2023)
GDP PPP (USD)
$295.5B(2023)
GDP per Capita (USD)
$2,308(2023)
GDP Growth (inflation-adjusted)
1%(2023)
Inflation (CPI Annual %)
28.2%(2024)

Trade & Finance

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Exports (as share of GDP)
40.9%(2023)
Imports (as share of GDP)
26.2%(2023)
FDI Inflows (as share of GDP)
-2.5%(2023)
Remittance Inflow (USD)
$12.1M(2023)
Tax Revenue (as share of GDP)
10.1%(2019)

Labor & Income

Coming Soon
Unemployment Rate
14.5%(2024)
Employment in Services
38.2%(2023)
Poverty Rate
32.3%(2018)
GINI Index
51.3(2018)
GNI per Capita (USD)
$2,120(2023)

Energy & Environment

Coming Soon
Energy Use per Capita
423 kg oil eq.(2022)
Renewable Energy Consumption (%)
52.9%(2021)

Economic Snapshot Overview

A summary of key economic indicators for Angola

  • 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 in Purchasing Power Parity (PPP) terms is estimated at $295.5B, reflecting the population's domestic purchasing power. The economy is seeing modest growth of 1.0%
    2023
    , but this is challenged by high inflation, with the Consumer Price Index (CPI) at 28.2%
    2024
    .
  • On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. The country maintains a strong trade surplus, with exports representing 40.9% of GDP and imports 26.2%
    2023
    . Foreign Direct Investment (FDI) inflows are significant, constituting -2.50% of the economy
    2023
    . This performance positions the country 175th globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $12.07M annually
    2023
    , highlighting the economic importance of its diaspora. The government faces fiscal constraints, with tax revenue representing only 10.1% of GDP
    2019
    .
  • The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $2,120
    2023
    . Globally, this ranks the nation 145th out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The country faces significant labor market challenges, with an unemployment rate of 14.5%
    2024
    . The services sector is a primary driver of the labor market, accounting for 38.2% of total employment
    2023
    . Poverty remains a key issue, with 32.3% of the population living below the national poverty line
    2018
    . Income inequality is a major concern, as reflected by a high Gini index of 51.3
    2018
    .
  • On the environment and energy front, energy consumption per capita is 423.123 kg of oil equivalent
    2022
    . The country is a leader in clean energy, with renewable sources making up 52.9% of total final energy consumption
    2021
    . Its commitment to clean energy places it 146th among 190 countries for its share of renewable energy consumption.

Key Economic Insights

Macroeconomic Health

Runaway inflation is the most pressing economic threat, eroding purchasing power and creating instability.

Trade & Investment Profile

The degree of openness to trade and foreign investment is a major determinant of economic structure and resilience.

Social Equity & Distribution

High levels of poverty and extreme income inequality pose fundamental challenges to development and social stability.

Energy & Sustainability

A strong commitment to renewable energy positions the country as a leader in the green transition, potentially creating new economic advantages.

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.