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 many farmers
are reluctant to return to their fields. As a result, much of the
country's food must still be imported. To take advantage of its rich
resources - gold, diamonds, extensive forests, Atlantic fisheries, and
large oil deposits - Angola will need to implement the peace agreement
and reform government policies. Despite the increase in the pace of
civil warfare in late 1998, the economy grew by an estimated 4% in
1999. The government introduced new currency denominations in 1999,
including a 1 and 5 kwanza note. Expanded oil production brightens
prospects for 2000, but internal strife discourages investment outside
of the petroleum sector.

purchasing power parity - $11.6 billion (1999 est.)

4% (1999 est.)

purchasing power parity - $1,030 (1999 est.)

agriculture: 13%
industry: 53%
services: 34% (1998 est.)

NA%

lowest 10%: NA%
highest 10%: NA%

270% (1999 est.)

5 million (1997 est.)

agriculture 85%, industry and services
15% (1997 est.)

extensive unemployment and underemployment
affecting more than half the population (1999 est.)

revenues: $928 million
expenditures: $2.5 billion, including capital expenditures of $963
million (1992 est.)

petroleum; diamonds, iron ore, phosphates, feldspar,
bauxite, uranium, and gold; cement; basic metal products; fish
processing; food processing; brewing; tobacco products; sugar;
textiles

NA%

1.886 billion kWh (1998)

fossil fuel: 24.97%
hydro: 75.03%
nuclear: 0%
other: 0% (1998)

1.754 billion kWh (1998)

0 kWh (1998)

0 kWh (1998)

bananas, sugarcane, coffee, sisal, corn,
cotton, manioc (tapioca), tobacco, vegetables, plantains; livestock;
forest products; fish

$5 billion (f.o.b., 1999 est.)

crude oil 90%, diamonds, refined petroleum
products, gas, coffee, sisal, fish and fish products, timber, cotton

US 63%, Benelux 9%, China, Chile, France (1998)

$3 billion (f.o.b., 1999 est.)

machinery and electrical equipment, vehicles
and spare parts; medicines, food, textiles, military goods

Portugal 20%, US 17%, South Africa 10%, Spain,
Brazil, France (1998)

$10.5 billion (1999 est.)

$493.1 million (1995)

1 kwanza (NKz) = 100 lwei

kwanza (NKz) per US$1 - 577,304 (January 2000),
2,790,706 (1999), 392,824 (1998), 229,040 (1997), 128,029 (1996),
2,750 (1995); note - beginning in June 1998, the official rate is
determined weekly in accordance with a crawling peg scheme

calendar year