Overview of Angola
Angola has a population of about 32 million and it is the seventh largest country in Africa in terms of land mass. It is the tenth largest economy in Africa, and it is classified as an lower middle-income country. It is located in the South African region, surrounded by countries like DR Congo, Zambia and Namibia. The sales of crude oil and its derivatives accounts for over 80% of its export revenues of the revenue.
Angola is among the Southern African Development Community (SADC) countries. The market opportunities and the demographics of the country has made this African market to become a place to explore by African exporters under AfCFTA.
Economic Snapshots
Angola has a coastline of 1,600km and a predominantly a Roman Catholic and Protestant country. Portuguese is the official language, Umbundu and Kikongo are other languages spoken in the country. It is an lower middle-income country with a per capita income of about $3,038 (2019 est.).
The GDP was about $62.31 billion in 2020, 80% was attributed to household consumption. Services contributed 46.8% of the GDP while agriculture and industry contributed 10% and 42.2% respectively (2017). The inflation rate is 15% (2020 est.), the literacy rate is 71.1%, while 66.47% of the country’s population is between 1-24years of age.
The major agricultural products produced in Angola include Banana, Sugarcane, Coffee, Corn, Cotton, Cassava, Tobacco and Livestock while the industries in the country produce Petroleum, Cement, Metal products, Brewing, Tobacco products, Sugar, and Textiles.