Luanda-Capital of Angola
Feira International de Luanda (FILDA)
Oil industry facility of Angola
Angola is located in southwest Africa, to the west coast of the African Continent. With substantial deposits of mineral resources, petroleum and natural gas, diamond stands out as the second largest mineral reserve of the country, amounting to 370 million carats and 50% of which in gem category. The forests of Angola cover 53 million hectares, being rich in precious wood such as ebony, African sandal and red sandal. In addiction, water and maritime resources are also abundant.
In recent years, Angola has been one of the African countries with the fastest growing economies. According to the statistics published by the International Monetary Fund, between 2003 and 2010, Angola’s Gross Domestic Product (GDP) rose from US$ 45.342 billions to US$114.343 billions, with the GDP per capita from US$3,116 to US$6,412, as was calculated on the basis of Purchasing Power Parity (PPP).
Industry and Mining
Petroleum and diamond mining is the pillar industry of the national economy, with oil and gas exploitation and oil refining accounting for nearly 60% of GDP. Other main industries range from farm product processing, beverage production to textile processing, cement and building materials production, plastic products, metal processing,cigarettes production, shoemaking and so on. The main destinations of oil export are the United States, China and other countries from Europe and Asia. Moreover, the annual output value of Angolan diamond (raw diamond) accounts for 12% on the global diamond market and ranks 5 th in the world.
The country has fertile soil and crisscross network of rivers, offering favourable conditions for the agricultural development.The arable land totals 3.2075 million hectares, with agricultrual population standing for 65% of the country’s total. Cash crops include coffee, sisal hemp,sugarcane, cotton and peanuts in the north, while cereal production is based on the central plateau and the southwest region, including corn,cassava, rice, wheat, potatoes, beans and so on.
Angola is bordered by the Atlantic Ocean and rich in fishing resources. Fishery is one of the key industries of the country and provides about 50,000 jobs, with annual fishing output amounting to 300,000 tons. The fishing ground offers excellent conditions for year-round operations. Most of the small and medium sized fishing companies have been privatized.
The market potential for infrastructure and housing projects is enormous in Angola, thus the construction industry plays a vital role in the national economy, bringing together construction contractors from around the world. With a lot of foreign enterprises coming to the fore, competition is gaining momentum in the country’s construction market.
MAIN ECONOMIC INDICATORS 2011
|Gross Domestic Product(US$ trillion)||117.2|
|Real GDP growth (%)||3.4|
|GDP per capital(US$)||6,000|
|Land area(sq km)||1,246,700|
Source: CIA-The World Factbook –Angola, https://www.cia.gov/library/publications/the-world-factbook/geos/ao.html
FOREIGN TRADE FROM 2007 TO 2011
|2011||$ 90.39||$ 65.63||$ 24.76|
|2010||$ 69.75||$ 51.65||$ 18.1|
|2009||$ 55.82||$ 40.08||$ 15.74|
|2008||$ 84.28||$ 67.2||$ 17.08|
|2007||$ 45.74||$ 35.53||$ 10.21|
Major Export Commodities: crude oil, diamonds, refined petroleum products, coffee, sisal, fish and fish products, timber, cotton
Main Import Commodities:: machinery and electrical equipment, vehicles and spare parts; medicines, food, textiles, military goods
1. CIA-The World Factbook – Singapore, https://www.cia.gov/library/publications/the-world-factbook/geos/ao.html
2. Index Mundi-Country Fact, http://www.indexmundi.com/angola/
|Main Destinations for Exports(2011)||%|
|Main Origin of Imports(2011)||%|
MAINLAND CHINA – ANGOLA
Source: Ministry of Commerce of the People’s Republic of China. http://xyf.mofcom.gov.cn/date/date.html
MACAO – ANGOLA BILATERALTERAL TRADE 2011
|Type of Trade||Weight (KG)||Patacas|
Source: The Statistics and Census Service, http://www.dsec.gov.mo/
MAJOR WEBSITE RECOMMENDATIONS:
THE ANGOLA GOVERNMENT’S OFFICIAL PORTAL:
1. The Ministry of Foreign Affairs of the People’s Republic of China
2. The Ministry of Commerce of the People’s Republic of China
3. The Economic and Commercial Counselor’s Office of the Embassy of the People’s Republic of China in Angola
4. The Statistics and Census Service
5. The World Factbook