Angola
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National flag |
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Map |
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Basic Information |
Angola is located in southwestern Africa. It is one of the important sea passages for central and southern Africa. It has a land area of approximately 1.246 million square kilometres and the population of 36.78 million in 2023 (IMF estimate). The capital is Luanda, the largest port and political and economic centre. |
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Investment Situation |
Angola has ideal natural resources, stable political situation and sound economic policies. Its outstanding resources give agriculture a huge room for comprehensive development and many opportunities to manufacturing and processing industries. There is still potential to have infrastructure co-operation. As the second largest oil producer in Africa, Angola has oil and diamond mining as the national economic backbones. Oil exports account for more than 95% of total exports. Angola’s export revenues account for nearly 60% of total revenues. In addition, construction industry also occupies an important economic position. Construction contractors from all over the world are attracted to Angola. Other highlighted and featured industries include agriculture, fisheries, livestock and communications industries. According to the “2023 World Investment Report” published by the United Nations Conference on Trade and Development (UNCTAD), by the end of 2022, Angola has attracted US$14.72 billion on stock of inward direct investment. According to the “2022 Statistical Bulletin of China’s Outward Foreign Direct Investment” , by the end of 2022, the stock of direct investment by China in Angola was US$1.95 billion, mainly in the fields of construction, trade, real estate and manufacturing. |
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Trade in Goods |
In 2022, the main export destinations of Angola include China, India and France. The export goods are mainly crude oil and jewelry. Angola’s main import sources include China, Portugal and Korea. The main imported goods include refined oil, mechanical and electrical equipment, vehicles and spare parts, etc. In 2023, China’s exports to Angola amounted to US$4.14 billion, mainly include footwear, used clothing and motorcycle and parts and accessories; imports from Angola amounted to US$18.91 billion, main imports are crude oil. |
Main Economic Indicators of recent three years
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2021 |
2022 |
2023 |
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Population |
34.50 |
35.71 |
36.78 |
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GDP (US$ billion) |
74.86 |
122.83 |
94.38 |
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Real GDP Growth Rate |
1.2 |
3.0 |
0.5 |
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Total Export of Goods |
34,472 |
51,275 |
38,351 |
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Total Import of Goods |
11,379 |
17,803 |
16,108 |
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Total Export of Services |
94* |
82* |
76 |
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Total Import of Services |
7,050* |
11,297* |
8,591 |
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Inflation measured by the Consumer Price Index |
25.8 |
21.4 |
13.6 |
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Current Account Balance |
8.399 |
11.772 |
2.897 |
Source: * data from World Trade Organization (WTO) and the others from International Monetary Fund (IMF)
Statistics on the Trade of Goods between Mainland China and Angola of recent three years (US$ thousands)
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Year |
Total Trade |
Total Exports value |
Total Imports value |
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2023 |
23,049,069 |
4,142,537 |
18,906,532 |
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2022 |
27,342,898 |
4,096,911 |
23,245,987 |
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2021 |
23,343,642 |
2,493,080 |
20,850,561 |
Remarks: “Exports” refers to goods exported to Angola from Mainland China; “Imports” refers of goods imported from Angola to Mainland China
Source: General Administration of Customs of the People’s Republic of China
Statistics on the Trade of Goods between the Macao SAR and Angola of recent three years (US$) (USD 1 ≈ MOP 8)
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Year |
Total Trade |
Total Exports Value |
Total Imports Value |
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2023 |
391,747.6 |
– |
391,747.6 |
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2022 |
953,018.6 |
– |
953,018.6 |
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2021 |
20,761.1 |
– |
20,761.1 |
Remarks: “Exports” refers to goods exported to Angola from Macao; “Imports” refers of goods imported from Angola to Macao.
Source: Statistics and Census Service (DSEC), Macao SAR Government
Sources:
- “Country (region) guide for foreign investment cooperation (Angola)” by the Ministry of Commerce of the People’s Republic of China
- “2022 Statistical Bulletin of China’s Outward Foreign Direct Investment” by the Ministry of Commerce of the People’s Republic of China, National Bureau of Statistics and State Administration of Foreign Exchange
- General Administration of Customs of the People’s Republic of China
- SinoMaps Press
- Statistics and Census Service (DSEC), Macao SAR Government
- International Monetary Fund (IMF)
- World Trade Organization (WTO)
- International Trade Center (ITC)
- “2023 World Investment Report” by the United Nations Conference on Trade and Development (UNCTAD)
Updated in April 2024.
