Luanda is the capital of Angola. Angola is a country located in southern Africa with a population of 22 million. Facing the Atlantic Ocean on the west, the country has a coastline with 1,650 km of length, and 1,246,700 square kilometers of land area. Luanda province is Angola’s political and economic centre, and 60-80% of the country’s economic activities are carried out here. The capital and largest city of Angola is Luanda, with a population of 5 million. The legal currency of the country is Kwanza.
The three major ports – Luanda, Lobito and Namibe and the three railway systems – Luanda, Benguela and Moçâmedes complement each other simultaneously. Coupled with the new airport of Luanda, over 40 domestic airports that are being expanded and the Benguela Railway invigorated by the Angolan government to connect the Lobito corridor in Zambia and Congo (DRC), have made Angola an important gateway in southwest Africa and one of important marine accesses to the sea in the central and southern Africa.
Angola is now a member state of the United Nations, the African Union, the Community of Portuguese-Speaking Countries, OPEC, the World Bank, IMF, WTO and other international and regional organisations.
Relying on its natural resources, the Angolan government has strongly promoted the development of the oil industry and is rebuilding the country’s infrastructure. Since 2010, the Angolan government has made efforts to increase oil production capacity and strengthen the exploitation of diamond, mining and natural gas, promoting vigorously the strategy of economic diversification.
Preferential treatment in the area of finance tax and tariffs, the minimum amount of foreign investment is USD 1 million and there are also some favorable measures to foreign investment. The government also grants foreign investors the national treatment, guaranteeing them the discretionary powers of investment and the same tax incentives and facilities in relation to local investors. The favorable measures including preferential policies for business, regions and investment of the special economic zone.
In addition, China and Angola also have a close economic and trade relationship. China established diplomatic relations with Angola in 1983 and a strategic partnership in November 2010. Angola is China’s second largest oil supplier in the world, the second largest trading partner in Africa (after South Africa) and the third largest investment destination country, while China is Angola’s largest trading partner, the largest export destination country and the second largest source of imports. The trade volume between China and Angola accounts for 37.6％ of Angola’s total foreign trade. Angola has been the second largest crude oil exporter to China for 8 consecutive years since 2006. Moreover, according to the exchange of notes signed between the two countries in 2012, 95％ products native to Angola for export to China have enjoyed zero tariff since 2013.
|Area Sq Km||1,246,700||1,246,700||1,246,700||1,246,700|
|GDP (US$ m)||126,775||102,643(a)||93,773||94,520|
|Real GDP growth (%)||4.8||3.0(a)||0.6||3.0|
|Exports of goods fob (US$ m)||59,170||35,545||30,573||37,332.|
|Imports of goods fob (US$ m)||-28,587||-21,154||-19,250||-22,523|
|Consumer Prices (end-period; % change)||7.5||14.3(a)||32.2||11.3|
|Current Account Balance (US$ m)||3,722||-8,531||-8,275||-7,781|
|Exchange Rate Kz:US$ (end-period)||102.86||135.32(a)||195.41||222.16|
(a) Actual (b) EIU estimates (c) EIU forecasts
|Main Destinations for Exports; (2015)||% of total|
|Main Origin of Imports; (2015)||% of total|
Mainland China-Angola Bilateral Trade (USD 10,000)
*China’s export value from Angola
** China’s import value from Angola
Trade between Macau -Angola (Mop)
*MacaoSAR’s export value to Angola
** MacaoSAR’s import value to Angola
- Guide for Countries and Regions on Overseas Investment and Co-operation – Angola
- Chinese Academy of International Trade and Economic Co-operation of Ministry of Commerce
- Investment Promotion Agency of Ministry of Commerce
- Economic and Commercial Counselor’s Office of the Embassy of China in Angola
- China Statistical Yearbook 2016
- The Economist Intelligence Unit – Country Report
- The Macau Statistics and Census Department