ARCHIVE // AO // TIME-SERIES
Economic overview
Angola — 36 years of data
Historical Values
| Year | Value |
|---|---|
| 1990 | Subsistence agriculture provides the main livelihood for 80-90% of the population, but accounts for only 10-20% of GDP. Oil production is the most lucrative sector of the economy, contributing about 50% to GDP. In recent years, however, the impact of fighting an internal war has severely affected the economy and food has to be imported. |
| 1991 | Subsistence agriculture provides the main livelihood for 80 to 90% of the population, but accounts for less than 15% of GDP. Oil production is the most lucrative sector of the economy, contributing about 50% to GDP. In recent years, however, the impact of fighting an internal war has severely affected the nonoil economy, and food has to be imported. For the long run, Angola has the advantage of rich natural resources, notably gold, diamonds, and arable land. To realize its economic potential A |
| 1992 | Subsistence agriculture provides the main livelihood for 80-90% of the population, but accounts for less than 15% of GDP. Oil production is vital to the economy, contributing about 60% to GDP. In recent years, a bitter internal war has severely affected the nonoil economy, and food has to be imported. For the long run, Angola has the advantage of rich natural resources in addition to oil, notably gold, diamonds, and arable land. To realize its economic potential Angola not only must secure domes |
| 1993 | Subsistence agriculture provides the main livelihood for 80-90% of the population, but accounts for less than 15% of GDP. Oil production is vital to the economy, contributing about 60% to GDP. Bitter internal fighting continues to severely affect the nonoil economy, and food needs to be imported. For the long run, Angola has the advantage of rich natural resources in addition to oil, notably gold, diamonds, and arable land. To realize its economic potential Angola not only must secure domestic p |
| 1994 | Subsistence agriculture provides the main livelihood for 80-90% of the population but accounts for less than 15% of GDP. Oil production is vital to the economy, contributing about 60% to GDP. Bitter internal fighting continues to severely affect the economy, and food must be imported. In 1993, production fell by an estimated 22.6%, mainly because of the capture by insurgents of the oil town of Soyo and diamond-producing areas in northeastern Angola. Angola has rich natural resources - notably go |
| 1995 | Subsistence agriculture provides the main livelihood for 80%-90% of the population but accounts for less than 15% of GDP. Oil production is vital to the economy, contributing about 60% to GDP. Despite the signing of a peace accord in November 1994 between the Angola government and the UNITA insurgents, sporadic fighting continues and many farmers remain reluctant to return to their fields. As a result, much of the country's food requirements must still be imported. Angola has rich natural resour |
| 1996 | Angola is an economy in disarray. Despite its abundant natural resources, output per capita is among the world's lowest. Subsistence agriculture provides the main livelihood for 80%-90% of the population but accounts for less than 15% of GDP. Oil production and the supporting activities are vital to the economy, contributing about 50% to GDP. Despite the signing of a peace accord in November 1994 between the Angola Government and the UNITA insurgents, sporadic fighting continues and many farmers |
| 1997 | Angola is an economy in disarray. Despite its abundant natural resources, output per capita is among the world's lowest. Subsistence agriculture provides the main livelihood for 80%-90% of the population but accounts for about 12% of GDP. Oil production and the supporting activities are vital to the economy, contributing about 50% to GDP. Notwithstanding the signing of a peace accord in November 1994, sporadic violence continues, millions of land mines remain, and many farmers are reluctant to r |
| 1998 | Angola is an economy in disarray because of more than 20 years of nearly continuous warfare. Despite its abundant natural resources, output per capita is among the world's lowest. Subsistence agriculture provides the main livelihood for 85% of the population. Oil production and the supporting activities are vital to the economy, contributing about 50% to GDP. Notwithstanding the signing of a peace accord in November 1994, sporadic violence continues, millions of land mines remain, and many farme |
| 1999 | Angola is an economy in disarray because of more than 20 years of nearly continuous warfare. Despite its abundant natural resources, output per capita is among the world's lowest. Subsistence agriculture provides the main livelihood for 85% of the population. Oil production and the supporting activities are vital to the economy, contributing about 45% to GDP. Notwithstanding the signing of a peace accord in November 1994, sporadic violence continues, millions of land mines remain, and many farme |
| 2000 | Angola is an economy in disarray because of a quarter century of nearly continuous warfare. Despite its abundant natural resources, output per capita is among the world's lowest. Subsistence agriculture provides the main livelihood for 85% of the population. Oil production and the supporting activities are vital to the economy, contributing about 45% to GDP and 90% of exports. Notwithstanding the signing of a peace accord in November 1994, violence continues, millions of land mines remain, and m |
| 2001 | Angola is an economy in disarray because of a quarter century of nearly continuous warfare. Despite its abundant natural resources, output per capita is among the world's lowest. Subsistence agriculture provides the main livelihood for 85% of the population. Oil production and the supporting activities are vital to the economy, contributing about 45% to GDP and 90% of exports. Violence continues, millions of land mines remain, and many farmers are reluctant to return to their fields. As a result |
| 2002 | Angola is an economy in disarray because of a quarter century of nearly continuous warfare. Subsistence agriculture provides the main livelihood for 85% of the population. Oil production and the supporting activities are vital to the economy, contributing about 45% to GDP and 90% of exports. Violence continues, millions of land mines remain, and many farmers are reluctant to return to their fields. As a result, much of the country's food must still be imported. To fully take advantage of its ric |
| 2003 | Angola has been an economy in disarray because of a quarter century of nearly continuous warfare. An apparently durable peace was established after the death of rebel leader Jonas SAVIMBI on February 22, 2002, but consequences from the conflict continue including the impact of wide-spread land mines. Subsistence agriculture provides the main livelihood for 85% of the population. Oil production and the supporting activities are vital to the economy, contributing about 45% to GDP and more than hal |
| 2004 | Angola has been an economy in disarray because of a quarter century of nearly continuous warfare. An apparently durable peace was established after the death of rebel leader Jonas SAVIMBI on February 22, 2002, but consequences from the conflict continue including the impact of wide-spread land mines. Subsistence agriculture provides the main livelihood for 85% of the population. Oil production and the supporting activities are vital to the economy, contributing about 45% to GDP and more than hal |
| 2005 | Angola has been an economy in disarray because of a quarter century of nearly continuous warfare. An apparently durable peace was established after the death of rebel leader Jonas SAVIMBI in February 2002, but consequences from the conflict continue including the impact of widespread land mines. Subsistence agriculture provides the main livelihood for 85% of the population. Oil production and the supporting activities are vital to the economy, contributing about 45% to GDP and more than half of |
| 2006 | Angola's high growth rate is driven by its oil sector, with record oil prices and rising petroleum production. Oil production and its supporting activities contribute about half of GDP and 90% of exports. Increased oil production supported 12% growth in 2004 and 19% growth in 2005. 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 th |
| 2007 | Angola's high growth rate is driven by its oil sector, with record oil prices and rising petroleum production. Oil production and its supporting activities contribute about half of GDP and 90% of exports. Increased oil production supported 12% growth in 2004, 19% growth in 2005, and nearly 14% growth in 2006. 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 da |
| 2008 | Angola's high growth rate is driven by its oil sector, with record oil prices and rising petroleum production. Oil production and its supporting activities contribute about 85% of GDP. Increased oil production supported growth averaging more than 15% per year from 2004 to 2007. 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 |
| 2009 | Angola's high growth rate is driven by its oil sector, which has taken advantage of high international oil prices. Oil production and its supporting activities contribute about 85% of GDP. Increased oil production supported growth averaging more than 15% per year from 2004 to 2007. 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 th |
| 2010 | 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 in late 2007 was assigned a production quota of 1.9 million barrels a day (bbl/day), somewhat less than the 2-2.5 million bbl/day Angola's government had wanted. 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, |
| 2011 | 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 in late 2007 was assigned a production quota of 1.9 million barrels a day (bbl/day), somewhat less than the 2-2.5 million bbl/day Angola's government had wanted. 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, |
| 2012 | 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 suppo |
| 2013 | 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 suppo |
| 2014 | 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 suppo |
| 2015 | Angola's economy is overwhelmingly driven by its oil sector. Oil production and its supporting activities contribute about 50% of GDP, more than 70% of government revenue, and more than 90% of the country's exports. Diamonds contribute an additional 5% to exports. 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 reco |
| 2016 | Angola's economy is overwhelmingly driven by its oil sector. Oil production and its supporting activities contribute about 50% of GDP, more than 70% of government revenue, and more than 90% of the country's exports. Diamonds contribute an additional 5% to exports. 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 reco |
| 2017 | Angola's economy is overwhelmingly driven by its oil sector. Oil production and its supporting activities contribute about 50% of GDP, more than 70% of government revenue, and more than 90% of the country's exports. Diamonds contribute an additional 5% to exports. 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 re |
| 2018 | Angola's economy is overwhelmingly driven by its oil sector. Oil production and its supporting activities contribute about 50% of GDP, more than 70% of government revenue, and more than 90% of the country's exports; Angola is an OPEC member and subject to its direction regarding oil production levels. Diamonds contribute an additional 5% to exports. Subsistence agriculture provides the main livelihood for most of the people, but half of the country's food is still imported. Increased oil product |
| 2019 | Angola's economy is overwhelmingly driven by its oil sector. Oil production and its supporting activities contribute about 50% of GDP, more than 70% of government revenue, and more than 90% of the country's exports; Angola is an OPEC member and subject to its direction regarding oil production levels. Diamonds contribute an additional 5% to exports. Subsistence agriculture provides the main livelihood for most of the people, but half of the country's food is still imported. Increased oil product |
| 2020 | Angola's economy is overwhelmingly driven by its oil sector. Oil production and its supporting activities contribute about 50% of GDP, more than 70% of government revenue, and more than 90% of the country's exports; Angola is an OPEC member and subject to its direction regarding oil production levels. Diamonds contribute an additional 5% to exports. Subsistence agriculture provides the main livelihood for most of the people, but half of the country's food is still imported. Increased oil product |
| 2021 | Angola's economy is overwhelmingly driven by its oil sector. Oil production and its supporting activities contribute about 50% of GDP, more than 70% of government revenue, and more than 90% of the country's exports; Angola is an OPEC member and subject to its direction regarding oil production levels. Diamonds contribute an additional 5% to exports. Subsistence agriculture provides the main livelihood for most of the people, but half of the country's food is still imported. Increased oil product |
| 2022 | Angola's economy is overwhelmingly driven by its oil sector. Oil production and its supporting activities contribute about 50% of GDP, more than 70% of government revenue, and more than 90% of the country's exports; Angola is an OPEC member and subject to its direction regarding oil production levels. Diamonds contribute an additional 5% to exports. Subsistence agriculture provides the main livelihood for most of the people, but half of the country's food is still imported. Increased oil product |
| 2023 | African oil leader and OPEC member; fairly stable currency; widespread poverty; emerging African finance and investment capital; systemic public corruption and lack of oversight; massive foreign direct investment recipient |
| 2024 | middle-income, oil-dependent African economy; widespread poverty; rising inflation and currency depreciation; seeking diversification through agricultural production; significant corruption in public institutions; major infrastructure investments from China and US; exited OPEC in 2023 |
| 2025 | middle-income, oil-dependent African economy; widespread poverty; rising inflation and currency depreciation; seeking diversification through agricultural production; significant corruption in public institutions; major infrastructure investments from China and US; exited OPEC in 2023 |