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Basic Information
Angola is located in southwestern Africa. It is one of the important sea passages for central and southern Africa. It has a land area of approximately 1.25 million square kilometres and a population of 31.8 million. The capital is Luanda, the largest port and political and economic centre.
Investment Environment

Angola has ideal natural resources, stable political situation and sound economic policies. Its outstanding resources give agriculture a huge room for comprehensive development and many opportunities to manufacturing and processing industries. There is also potential to have infrastructure co-operation.

Doing Business 2020 – the World Bank’s report on business environment  – points out that Angola’s score has improved in terms of property registration, access to electricity and cross-border trade.

As the second largest oil producer in Africa, Angola has oil and diamond mining as its economic backbones. Oil exports account for more than 95% of total exports. Angola’s export revenues account for nearly 60% of total revenues. In addition, construction industry also makes important economic contributions. Construction contractors from all over the world are attracted to Angola. Other important industries in

Trade Overview

The main export destinations of Angola include China, India, the United States and Spain. The export goods are mainly crude oil, diamonds, wood, machinery equipment and coffee. Angola’s main sources of import include China, Portugal, Singapore and Belgium. The main imported goods include mechanical and electrical equipment, vehicles and spare parts, medicines, food, and textiles.

China’s exports to Angola mainly are automobiles and spare parts, furniture and furniture products, and electromechanical products. The main imports from Angola are crude oil.

Economic Indicators

2017(a)

2018(a)

2019(b)

2020(c)

Surface area (sq. km)

1,246,700

1,246,700

1,246,700

1,246,700

Population (million)

29.8(b)

30.8(b)

31.8

32.9

GDP (US$ million)

122,124

105,751

80,157

59,894

Real GDP growth rate (%)

-0.1

-2.1

-2.2

-4.1

Total exports (US$ million)

34,613

40,758

34,052

17,329

Total imports (US$ million)

-14,463

-15,798

-15,324

-12,259

Consumer Price Index (%)

26.3

18.2

17.1

25.3

Current account balance (US$ million)

-633

7,403

2,860

-5,851

Exchange rate (Angola Kwanza AOA : USD)

165.92

308.61

482.23

555.37

Remarks: (a) actual value; (b) estimated value of Economist Intelligence Unit (EIU); (c) estimates of Economist Intelligence Unit (EIU).
Source: Country Report May 2020 (Angola) by British Economist Intelligence Unit

Main export and import destinations

Main export destinations (2018)

Proportion in total exports (%)

China

57.5

India

8.9

USA

3.8

Spain

2.9

Others

26.9

Main import origins (2018)

Proportion in total imports (%)

China

14.1

Portugal

13.3

Singapore

11.1

Belgium

6.2

Others

55.3

Source: International Trade Center (ITC)

Major import and export goods

Major export goods (2018)

Proportion in total exports (%)

Fossil fuels, mineral oil and distilled products thereof; bituminous substances; mineral wax

14.7

Nuclear reactors, boilers, machinery and mechanical appliances and relevant spare parts

13.3

Ships and floating structures

10.5

Electrical machinery and equipment and their parts; recorders and speakers, television image and sound recorders and replayers, parts and accessories of such products

6.1

Others

55.4

Major import goods (2018)

Proportion in total imports %

Fossil fuels, mineral oil and its distilled products; bituminous substances; mineral wax

14.7

Nuclear reactors, boilers, machinery and mechanical appliances and relevant spare parts

13.3

Ships and floating structures

10.5

Nuclear reactors, boilers, machinery and mechanical appliances and relevant spare parts

0.3

Others

61.2

Source: International Trade Center (ITC)

Statistics of trades between Mainland China and Angola (US$ 10,000)

Year

Total trade

Total exports*

Total imports**

2019

2,571,012.7

205,587.1

2,365,425.6

2018

2,805,251.7

225,381.3

2,579,870.4

2017

2,260,880.6

225,703.5

2,035,177.1

2016

1,562,814.6

168,016.6

1,394,797.9

2015

1,971.566.8

371,924.9

1,599,641.9

Remarks: * Value of goods exported to Angola from Mainland China; **Value of goods imported from Angola to Mainland China
Source: General Administration of Customs of the People’s Republic of China
Statistics of trades between Macao and Angola (US$) (USD 1 » MOP 8)

Year

Total trade

Total exports*

Total imports**

2019

2018

7,313.3

7,313.3

2017

3,984

3,984

2016

2015

Remarks: * Value of goods exported to Angola from Macao; **Value of goods imported from Angola to Macao.
Source: Statistics and Census Service (DSEC), Macao SAR Government
Sources:

  • Country (region) guide for foreign investment cooperation (Angola) by the Ministry of Commerce of the People’s Republic of China
  • General Administration of Customs of the People’s Republic of China
  • SinoMaps Press
  • Statistics and Census Service (DSEC), Macao SAR Government
  • International Trade Center (ITC)
  • Country Report May 2020 (Angola) by the British Economist Intelligence Unit
  • Doing Business 2020 by the World Bank

Updated in May 2020.