Angola has been an economy in disarray because of a quarter century of nearly continuous warfare. An apparently durable peace was established after the death of rebel leader Jonas SAVIMBI on February 22, 2002, but consequences from the conflict continue including the impact of wide-spread land mines. 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 and more than half of exports. Much of the country's food must still be imported. To fully take advantage of its rich natural resources - gold, diamonds, extensive forests, Atlantic fisheries, and large oil deposits - Angola will need to continue reforming government policies. While Angola made progress in bringing inflation down further, from 325% in 2000 to about 106% in 2002, the government has failed to make sufficient progress on reforms recommended by the IMF such as increasing foreign exchange reserves and promoting greater transparency in government spending. Increased oil production should bring about 6% GDP growth in 2003.

purchasing power parity - $18.36 billion (2002 est.)

9.4% (2002 est.)

purchasing power parity - $1,700 (2002 est.)

agriculture: 8%
industry: 67%
services: 25% (2001 est.)

NA

106% (2002 est.)

5 million (1997 est.)

agriculture 85%, industry and services 15% (1997 est.)

extensive unemployment and underemployment affecting more than half the population (2001 est.)

petroleum; diamonds, iron ore, phosphates, feldspar, bauxite, uranium, and gold; cement; basic metal products; fish processing; food processing; brewing; tobacco products; sugar; textiles

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