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Angola

Republica de Angola

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated

revenues

$18.117 billion (2019 est.)

expenditures

$13.871 billion (2019 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$50.12 billion (2022 est.)

Exports 2023

$36.961 billion (2023 est.)

Exports 2024

$36.924 billion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$28.564 billion (2022 est.)

Imports 2023

$23.688 billion (2023 est.)

Imports 2024

$22.683 billion (2024 est.)

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

Labor force

15.961 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

Public debt 2016

75.3% of GDP (2016 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

0% of GDP (2022 est.)

Remittances 2023

0% of GDP (2023 est.)

Remittances 2024

0% of GDP (2024 est.)

Exchange rates

Currency

kwanza (AOA) per US dollar -

Exchange rates 2020

578.259 (2020 est.)

Exchange rates 2021

631.442 (2021 est.)

Exchange rates 2022

460.568 (2022 est.)

Exchange rates 2023

685.02 (2023 est.)

Exchange rates 2024

869.846 (2024 est.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$45.299 billion (2023 est.)

Economic overview

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

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

14.7% (2022 est.)

Unemployment rate 2023

14.6% (2023 est.)

Unemployment rate 2024

14.5% (2024 est.)

Exports - partners

China 40%, India 9%, UAE 6%, Spain 6%, Netherlands 5% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

China 19%, Portugal 10%, UAE 7%, India 6%, USA 5% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$7,400 (2022 est.)

Real GDP per capita 2023

$7,300 (2023 est.)

Real GDP per capita 2024

$7,300 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

3% (2022 est.)

Real GDP growth rate 2023

1.1% (2023 est.)

Real GDP growth rate 2024

4.4% (2024 est.)

Agricultural products

cassava, bananas, maize, sweet potatoes, sugarcane, tomatoes, pineapples, onions, potatoes, citrus fruits (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

crude petroleum, diamonds, natural gas, ships, refined petroleum (2023)

note: top five export commodities based on value in dollars

Imports - commodities

refined petroleum, wheat, ships, cars, trucks (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

$11.763 billion (2022 est.)

Current account balance 2023

$4.185 billion (2023 est.)

Current account balance 2024

$6.31 billion (2024 est.)

Taxes and other revenues

10.1% (of GDP) (2019 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$80.397 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

55.3% (2024 est.)

government consumption

6.3% (2024 est.)

investment in inventories

0% (2024 est.)

investment in fixed capital

25% (2024 est.)

exports of goods and services

37.9% (2024 est.)

imports of goods and services

-24.4% (2024 est.)

Population below poverty line

32.3% (2018 est.)

note: % of population with income below national poverty line

Average household expenditures

on food

50% of household expenditures (2023 est.)

on alcohol and tobacco

1.4% of household expenditures (2023 est.)

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

21.4% (2022 est.)

Inflation rate (consumer prices) 2023

13.6% (2023 est.)

Inflation rate (consumer prices) 2024

28.2% (2024 est.)

Industrial production growth rate

5% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$263.61 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$266.452 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$278.239 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

30.2% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

27.9% (2024 est.)

female

25.7% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$13.655 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$13.942 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$14.243 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

44.2% (2024 est.)

services

39.3% (2024 est.)

agriculture

16.4% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

1.3% (2018 est.)

highest 10%

39.6% (2018 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2018

51.3 (2018 est.)