Economy—overview: Angola is an economy in disarray because of more than 20 years of nearly continuous warfare. Despite its abundant natural resources, output per capita is among the world's lowest. Subsistence agriculture provides the main livelihood for 85% of the population. Oil production and the supporting activities are vital to the economy, contributing about 45% to GDP. Notwithstanding the signing of a peace accord in November 1994, sporadic violence continues, millions of land mines remain, and many farmers are 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—gold, diamonds, extensive forests, Atlantic fisheries, arable land, and large oil deposits—Angola will need to implement the peace agreement and reform government policies. The increase in the pace of civil warfare in late 1998 dims economic prospects for 1999 especially if the oil sector were to be damaged.
GDP: purchasing power parity—$11 billion (1998 est.)
GDP—real growth rate: 0.5% (1998 est.)
GDP—per capita: purchasing power parity?$1,000 (1998 est.)
GDP—composition by sector: agriculture: 13% industry: 53% services: 34% (1998 est.)
Population below poverty line: NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices): 90% (1998 est.)
Labor force: 5 million (1997 est.)
Labor force—by occupation: agriculture 85%, industry and services
15% (1997 est.)