The kwanza’s rollercoaster: navigating currency storms, capital flows and revived inflation
D3
SENSITIVE RISK
-
Economic risk
-
Business environment risk
-
Political risk
-
Commercial risk
-
Financing risk
-
Economic risk
-
Business environment risk
-
Political risk
-
Commercial risk
-
Financing risk
Updated in January 2024.
Swipe to view more
GDP | USD106.7bn (World ranking 68, World Bank 2022) |
Population | 35.6mn (World ranking 43, World Bank 2022) |
Form of state | Presidential republic |
Head of state |
João Lourenço (President) |
Next elections | 2027, presidential and legislative |
Strengths & Weaknesses
![Strengths](/en_global/economic-research/country-reports/Angola/_jcr_content/root/parsys/wrapper/wrapper/multi_column_grid_co/grid-0-par/wrapper/wrapper/image.img.82.3360.png/1721199945277/plus.png)
- Oil & gas, metals and agriculture continue to attract businesses despite a challenging environment and temporary currency restrictions.
- Higher-than-average historical inflation has increased resilience and enhanced the central bank's ability to act on rates amid a positive trade balance.
- Non-oil sector growth potential remains, with diamonds, agriculture and natural gas receiving investments from Europe.
![Weaknesses](/en_global/economic-research/country-reports/Angola/_jcr_content/root/parsys/wrapper/wrapper/multi_column_grid_co/grid-1-par/wrapper_copy/wrapper/image.img.82.3360.png/1721199965255/minus.png)
- Elevated exposure to oil prices and foreign investment caused another substantial currency depreciation in H1 2023.
- Revival of high inflation due to fuel-subsidy reduction and currency devaluation weighs on growth potential and living standards.
- Persistent income inequality and low educational attainment hinder productivity and expertise.
Economic Overview
Trade structure by destination/origin
(% of total, annual 2021)
Exports | Rank | Imports |
---|---|---|
China
61.5%
![]() |
1 |
![]() |
India
9.0%
![]() |
2 |
![]() |
United Arab Emirates
4.1%
![]() |
3 |
![]() |
Thailand
3.1%
![]() |
4 |
![]() |
Spain
2.4%
![]() |
5 |
![]() |
Trade structure by product
(% of total, annual 2021)
Exports | Rank | Imports |
---|---|---|
Petroleum, petroleum products and related materials
83.4%
|
1 |
15.8%
Petroleum, petroleum products and related materials
|
Gas, natural and manufactured
11.8%
|
2 |
6.4%
Road vehicles
|
Crude fertilizers other than division 56, and crude minerals
3.9%
|
3 |
6.3%
Cereals and cereal preparations
|
Fish, crustaceans, molluscs and preparations thereof
0.1%
|
4 |
6.0%
Other industrial machinery and parts
|
Power generating machinery and equipment
0.1%
|
5 |
4.7%
Specialised machinery
|
Contacts
Read our latest reports
-
Americas
-
Europe
-
Asia Pacific
-
Middle East
-
Africa