Flag: two equal horizontal bands of red (top) and black with a centered yellow emblem consisting of a five-pointed star within half a cogwheel crossed by a machete (in the style of a hammer and sickle)
Economy ———-
Economic overview: Angola is an economy in disarray. Despite its abundant natural resources, output per capita is among the world's lowest. Subsistence agriculture provides the main livelihood for 80%-90% of the population but accounts for less than 15% of GDP. Oil production and the supporting activities are vital to the economy, contributing about 50% to GDP. Despite the signing of a peace accord in November 1994 between the Angola Government and the UNITA insurgents, sporadic fighting continues and many farmers remain 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 - notably gold, diamonds, extensive forests, Atlantic fisheries, and arable land, in addition to its large oil deposits - Angola will need to observe the cease-fire, implement the peace agreement, and reform government policies.
GDP: purchasing power parity - $7.4 billion (1995 est.)
GDP real growth rate: 4% (1995 est.)
GDP per capita: $700 (1995 est.)
GDP composition by sector: agriculture: 12% industry: 56% services: 32% (1994 est.)
Inflation rate (consumer prices): 20% monthly average (1994 est.)
Labor force: 2.783 million economically active by occupation: agriculture 85%, industry 15% (1985 est.)
Unemployment rate: 24% with extensive underemployment (1993 est.)