Angola

Angola

The domestic production of the country is mainly concentrated on the cultivation of vegetables, fruits and cereals (corn). Legumes, coffee, sugar cane, cotton and tobacco are grown in less significant volumes.
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After a five-year recession in 2021, the Angolan economy showed slight growth due to the recovery of the services sector after the Covid-19 pandemic, as well as the rise in oil prices on the world market.
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Despite its rich natural resources, Angola's per capita output is one of the lowest in the world. Subsistence agriculture provides the basic livelihood for 85% of the population. Oil production and ancillary activities are vital to the economy, accounting for about 45% of GDP and 90% of exports.

Economic growth is almost entirely due to the growth of oil production. With the growth of oil export revenues, the Government has started implementing development programs for the construction of roads and other basic infrastructure for the country.

GDP structure: agriculture — 10.2%. Crop production (coffee, corn, sisal, cotton), animal husbandry (cattle, goats), industry — 61.4% (mining, oil refining, forestry and woodworking, enterprises processing agricultural raw materials and fish. Fishing), the service sector — 28.4%.

Exports: oil, diamonds, petroleum products, gas, coffee, sisal, fish and fish products, wood, cotton (China — 48.1%, USA — 8.9%, India — 8.8%, Spain — 5.6%).

Imports: machinery and equipment, vehicles and spare parts; medicines, food, textiles, weapons (China — 23.7%, Portugal - 16.3%, USA — 8.1%, South Korea - 7.1%, Brazil - 5%, South Africa - 4.2%, France - 4.1%).

The total reserves of recoverable energy resources are estimated at 2.68 billion tons (in coal equivalent). Installed capacity – net of power plants - 6,156 MW, including: thermal power plants burning organic fuel - 55.9%, renewable energy sources - 44.1%.