Economy Overview
Falling oil prices, the depreciation of the kwanza, and slower than expected growth in non-oil GDP have reduced growth prospects. Corruption, especially in the extractive sectors, is a major long-term challenge that poses an additional threat to the economy. Government spending in the run-up to the 2017 elections is likely to strain Luanda’s budget.
Agriculture Products
bananas, sugarcane, coffee, sisal, corn, cotton, cassava (manioc, tapioca), tobacco, vegetables, plantains; livestock; forest products; fish
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
Industrial Production Growth Rate
0.5% (2016 est.)
Labor Force
12.1 million (2016 est.)
Labor Force by Occupation
Agriculture: 85%
Industry and services: 15% (2003 est.)
Population Below Poverty Line
40.5% (2006 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: 0.6%
Highest 10%: 44.7% (2000)
Budget
Revenues: $28.61 billion
Expenditures: $34.56 billion (2016 est.)
Public Debt
64.2% of GDP (2015 est.)
Central Bank Discount Rate
25% (31 December 2010)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$25.27 billion (31 December 2015 est.)
Stock of Broad Money
$42.15 billion (31 December 2015 est.)
Stock of Domestic Credit
$17.18 billion (31 December 2015 est.)
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
$23.79 billion (31 December 2015 est.)
Debt External
$27.99 billion (31 December 2015 est.)
Stock of Direct Foreign Investment at Home
$3.126 billion (31 December 2015 est.)
Stock of Direct Foreign Investment Abroad
$22.4 billion (31 December 2015 est.)
Exchange Rates
95.47 (2012 est.)
