Background: Angola is large oil economy in Sub-Saharan Africa with an estimated GDP of $100 billion and a population of 51 million people. Angola is the second largest oil producer in Africa with reserves of over 20 years of further output at current rates of extraction. Despite bordering the DRC there have been no threats to security from external forces. The table below reflects Angola’s main areas of trade by product percentage (source: UNCTAD):
Geo-Economic Structure: Angola has low export diversification with oil accounting for 98% of export revenues. The economy has undergone a major structural shock due to the persistence of low oil prices and operational inefficiencies associated with the state owned oil operator Sonangol. Perceptions of corruption and lack of transparency have had an impact on growth. The economy still has a lot of scope for growth in other sectors as business diversifies away from oil, though it remains a high risk investment region for any type of investor.
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