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Angola Angola

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Angola – Quick View
ECR score34.53 (Mar 2011)
ECR rank118 (Mar 2011)
Life expectancy yearsFemale - 74.5 years
Life expectancyFemale - 74.5 years
Economic
GDP 2010USD 80.80 billion
GNI per capita PPPUSD 4,941
FDI inflow 2009USD 1,472.3 million
Inflation 201013%
Central bank assets 2009USD 17.547 billion
Unemployment rate 200825.2%
Government Surplus 2010USD 0.939 billion
Tax revenue 2010USD 31.703 billion
Political
Government typeRepublic
Recent political crisisNA
Economic freedom score161st
Freedom of information score104th
Corruption perception index168th
Structural
Birth rate42.3 per ‘000
Population balanceUnder 14 - 45%
Population balanceOver 60 - Male 3.6%
Population balanceOver 60 - Female 4.3%
Life expectancyMale - 69.8 years
Mortality rate16.5 per ‘000
Literacy rate44.9%
Internet access4.6%

[Top] Economic Overview

The economy in Angola has been growing at a slow pace. Minerals, oil and gas are the backbone of the Angolan economy. The economy is primarily dependent on the export of oil and diamonds. Other important resources in Angola are agriculture, forestry and fishery. Sea food is also one of the major exports from the country. (Source: angola.org)

Gross Domestic Product

According to preliminary estimates, Gross Domestic Product (GDP) at current prices for the year 2011 is estimated to be AOA 8,392.2 billion.

Angola GDP(Source: minfin.gv.ao)

The GDP growth rate in the year 2008 was 13.8% dipping to 2.4% in 2009. However, the GDP growth rate has been on the increase after 2009 and is estimated to be 4.5% in 2010 and 7.6% in 2011.

The country’s GDP at constant prices in 2010 is estimated to be AOA 258.39 billion compared to AOA 244.03 billion in 2009. (Source: IMF)

GDP per capita

The nation’s GDP per capita at current price for the year 2009 was USD 4,081 compared to USD 4,671 in 2008. (Source: World Bank)

Gross National Income

The nation’s Gross National Income (GNI) per capita at PPP in 2010 was USD 4,941 compared to USD 3,396 in 2005.

Angola GNI per capita(Source: UNDP)

Income Tax Rate

Income tax on individual income in Angola is levied at rates ranging from 5% to 17%.

 

Taxable income (AOA)

Tax rate

0 - 25,000

0

25,001 - 30,000

5%

30,001 - 35,000

6% + AOA 250

35,001 - 40,000

7% + AOA 550

40,001 - 45,000

8% + AOA 900

45,001 - 50,000

9% + AOA 1,300

50,001 - 70,000

10% + AOA 1,750

70,001 - 90,000

11% + AOA 3,750

90,001 - 110,000

12% + AOA 5,950

110,001 - 140,000

13% + AOA 8,350

140,001 - 170,000

14% + AOA 12,250

170,001 - 200,000

15% + AOA 16,450

200,001 - 230,000

16% + AOA 20,950

Above AOA 230,001

17% + AOA 25,750

(Source: taxrates.cc)

Corporate tax

Standard corporate tax in Angola is 35%.

 

Tax contribution

Total tax rate (% profit)

Corporate income tax

24.6

Stamp tax

17.7

Social security contributions

9

Fuel tax

1.7

Circulation fee

0.1

(Source: doingbusiness.org, taxrates.cc )

Inflation Rate

Angola inflation (Source: minfin.gv.ao)

Angola has been experiencing variation in inflation rates in the period 2008-2010. The inflation rate in 2009 was recorded at 14% and then dipped to 13% in 2010.

FDI Inflow

The foreign direct investment in the country till November 2009 amounted to USD 1,472.3 million compared to USD 1,105.08 million for the year 2008. (Source: ANIP)

Banking sector assets

The table below displays the assets of the Central Bank of Angola.

 

Balance Sheet – Assets of Central Bank of Angola (AOA)

 

December 2009

December 2008

Assets abroad

1,183,872,247,384

1,340,290,605,517

Domestic credit

152,801,428,168

30,932,656,259

Fixed assets

14,992,075,358

14,406,451,335

Holdings

106,313,013

59,863,599

Other values ??assets

15,530,899,459

20,112,658,285

Total Assets

1,367,302,963,382

1,405,802,234,995

(Source: bna.ao)

[Top] Financial Indicators & Government Financial

Consumer Price Index

The consumer price index in Angola is on a steady rise. The consumer price index in 2009 was recorded at 235.54 and increased to 259.57 in 2010. The consumer price index for 2011 is estimated to be 263.8, indicating the increase in the prices of consumer goods.

 Angola Consumer Price Index

(Source: World Bank)

Interest rates on saving deposits / time deposits

 

Real interest rates (%)

 

September 2010

December 2009

 

180 Days

181 to 1 years

More than 1 year

180 Days

181 to 1 years

More than 1 year

Business

6.18

-0.34

4.07

1.43

4.74

4.42

Private

4.82

5.79

5.71

4.57

5.15

6.66

Demand Deposit

-11.32

-10.03

(Source: bna.ao)

Money supply

Angola Money Supply

(Source:bna.ao)

Government Expenditure

For the year 2010, government expenditure amounted to AOA 2,988.7 billion or 41.5% of the GDP. The expenditure in the year 2009 was AOA 2,363.4 billion.

Angola Government Expenditure

(Source: minfin.gv.ao)

Official Exchange Rate

The average annual AOA per USD rate for the year 2010 was registered at 91.91. The exchange rate for 2009 was registered at 79.3 AOA per USD.

Angola Exchange Rate

(Source:bna.ao, bna.ao)

Government finances

Fiscal balance

Angola recorded a fiscal surplus of AOA 86.5 billion for the year 2010 compared to a deficit of AOA 515.5 billion in 2009.

Angola Fiscal Balance

 

(Source: minfin.gv.ao page-56)

Total Revenue

The country’s government revenue in 2010 amounted to AOA 3,075.2 billion compared to AOA 1,847.9 billion in 2009. The revenue in the year 2010 was 42.7% of GDP.

Angola Government Revenue

(Source:minfin.gv.ao page-56)

Tax revenue

Tax revenue in Angola for the year 2010 amounted to AOA 2,921.2 billion or 40.6% of GDP. In 2009, tax revenue was 29.9% of GDP.

Angola Tax Revenue
(Source: minfin.gv.ao page-56)

Total Grants

Angola Grants
(Source: minfin.gv.ao page-56)

Current Account Balance – Surplus and Deficit

Angola is estimated to record a current account surplus in the year 2010 amounting to 1.58% of GDP. In 2009, the current account deficit is estimated to be 4.97% of GDP.

Angola Current Account Balance

(Source: IMF)

Balance of Payments

Balance of Payments (USD Million)

 

2010

2009

2008

Exports

51.000,5

40,827.9

63,913.9

Imports

-22,732.4

-22,659.9

-20,982.2

Services

-19,427.6

-18,546.2

-21,809.9

Income

-9,088.3

-6,823.1

-13,717.5

Current balance

-600

-7,571.6

7,194.3

Balance of Payments

2,477.1

-4,616.2

7,256.0

(Source: minfin.gv.ao)

[Top] Labour Force and Employment Overview

The labour force in Angola in 2010 is estimated as 7.77 million.

(Source: UNDP)

The total labour force participation rate in Angola was 81% for the year 2008. For females, the participation rate was 74% while for males it was 89%.

(Source: World Bank, World Bank)

Angola’s unemployment rate is estimated to be about 25.2%

(Source: africaneconomicoutlook.org)

Minimum wage

The minimum wage for a 19 year old worker or apprentice is about USD 122.

(Source:doingbusiness.org)

Level of Unionisation

Unions in Angola have been dominant and the level of unionisation of the labour force is high. There are more than 50 trade unions in Angola, but the major trade unions in Angola are -

  • General Centre of Independent and Free Unions of Angola (CGSILA)
  • National Union of Workers of Angola (UNTA-CS)

 (Source:wageindicator.org)

[Top] Political Stability

Angola has a presidential republic system of government. The powers are divided into three branches, namely the executive, legislative and judiciary.

The executive powers are vested in the government, which includes the President, Prime Minister and Council of Ministers.

The legislative branch is known as the National Assembly and is unicameral. It is comprised of 220 members directly elected for a term of four years.

Major political parties in Angola include:

  • Movimento Popular de Libertacao de Angola (MPLA)
  • Frente para a Democracia (FpD)
  • Front National de Liberation de l'Angola (FNLA)
  • Partido Liberal Democrático (PLD)
  • Partido Republicano de Angola (PREA), Republican Party of Angola
  • Uniao Democrática National De Angola / National Democratic Union of Angola (UDNA)
  • União Nacional para a Independência Total de Angola

The current government is under the Movimento Popular de Libertacao de Angola (MPLA) party. Frente para a Democracia (FpD) are the opposition party.

(Source:angola.org, BBC)

Regulatory Environment in Angola

The country’s economic freedom score is 46.2, making its economy the 161st freest in the 2011 Index of Economic Freedom. Angola ranks 40th out of 46 regional countries in the Sub-Saharan Africa region. Angola’s overall score is lower than the global and regional averages.

Angola Economic Freedom Indices

(Source:Heritage.org)

Corruption perception

The Corruption Perceptions Index (CPI) is a survey to measure the perceived level of corruption across countries worldwide. Angola is ranked 168th on this list which indicates that the corruption levels in the public departments in the country is extremely high, especially compared to neighbouring nations such as Angola, Botswana and Zambia.

Angola slipped on the CPI rankings since 2009 – it was ranked 162nd with a score of 1.9 which indicates the perceived levels of corruption have increased in the country. (Source:transparency.org)

Freedom of Information

Angola is ranked 104th in the World Press Freedom Index 2010 with a score of 28.50 which indicates that media in Angola is restricted. (Source: rsf)

Newspapers

  • Jornal de Angola
  • Angolense
  • Semanario Angolense
  • Folha 8
  • A Capital
  • Actual
  • Agora
  • Cruzeiro do Sul

(Source: BBC)

Judicial system

The judiciary in Angola consists of

  • Supreme Court of Justice
  • Courts of appeal
  • People's revolutionary courts
  • People’s court

The Supreme Court is the highest court of justice. Judges are appointed by minister of justice. The Supreme Court and Court of appeal have authority to judge cases of national officials and lower courts appeals. People's revolutionary court includes charges related to national security or war crimes. People’s Court includes criminal, police, and labor tribunals.

(Source: countrystudies.us)

[Top] Demographic Overview

Population

The total population of Angola for the year 2010 was 18.9 million. The country’s population grew at an average annual rate of 2.7% in the period 2005-2010.

(Source: UN, BBC)

Representation of gender in the country is almost equal. In the year 2009, females accounted for 50.7% of the total population.

(Source: worldbank.org)

Angola  Population by Gender

The gender ratio in the country is slightly imbalanced i.e. there are about 97.2 males for every 100 females in the country.

(Source: UN)

The average life expectancy in Angola for males is 44.9 years and for females is 48.8 years (2005-2010)

(Source: UN, World Bank)

In 2009, the population below 14 years of age accounts for 45% of the total population. In the same year, 4.3% women and 3.6% men (% of total population) were aged above 60 years of age.

Birth Rate and Death Rate

In 2009, the crude birth rate (per 1,000 people) was registered as 42.3 and crude death rate was 16.5 (per 1,000 people).The infant mortality rate (per 1,000 live births) was registered at 117.5 in the period 2005-2010.

(Source: AFDB)

Migration and Urbanisation

International migrant stock till mid 2010 was recorded at 65,400 people. This was approximately 0.3% of the entire population.

(Source: UN)

Angola remains one of the least urbanised countries in the African region. In 2007, about 55.8% of the population resided in urban areas.

The latest figures reveal that urban population in the country grew at an annual rate of 4.4% between 2005 and 2010. For the same period, the rural population grew at a slower rate of 0.7% per year.

(Source: UN)

Racial/ Ethnic Environment

Major Ethnic groups in Angola are:

  • Ovimbundu
  • Kimbundu
  • Bakongo    
  • Mestico
  • European

A large proportion of the population in Angola is Ovimbundu. Major religions include indigenous beliefs, Roman Catholic and Protestant.

(Source: Angola.org)

Poverty

In 2006, about 40.5% of the population lived below poverty line.

(Source: UNDP)

The country ranks 146th out of 169 countries on the Human Development Index 2010 conducted by the United Nations. The HDI provides a composite measure of three dimensions of human development: living a long and healthy life (measured by life expectancy), being educated (measured by adult literacy and gross enrolment in education) and having a decent standard of living (measured by purchasing power parity, PPP, income).

(Source: UNDP)

[Top] Soft Infrastructure

Education

Education in Angola is moderately developed compared to other African countries. The country’s total adult literacy rate for the year 2005 – 2008 has been estimated at 70%. The total youth literacy rate (i.e. aged 15-24) for male from 2004-2008 is 81% and for female is 65%.

Basic education in the country is over eight years and is divided into three levels. Level one includes four classes and is compulsory while levels 2 and 3 include two classes each.

(Source: UNICEF, UNHCR)

Health care

Health care in the country is provided through outreach points, clinics, health centres and district hospitals. There are more than 45 major hospitals in Angola and all are operated by the government. The healthcare facilities are poor compared to other African countries.

The leading causes of death include gastrointestinal diseases, malaria, respiratory infections and sexually transmitted diseases. The major causes of death in children below five years of age are pneumonia, diarrhoea and malaria.

Malaria is the main cause for death in the country; however malnutrition is the main cause of death among children. The level of HIV infection in the country is moderate. Prevalence of HIV among adults (15-49 years) is about 2% in 2010.

(Source: countrystudies.us, healthsystems2020.org)

[Top] Hard Infrastructure

The mass public transport in the country is through roads and railways.

Ports

There are 16 ports in Angola, namely - Port of Ambriz, Port of Cabinda, Takula terminal, Port of Lobito, Malongo terminal, Port of Namibe, Port of Porto Amboim, Palanca terminal, Port of Soyo, Quinfuguena terminal, Futila terminal, Porto de Launda, Port of Malongo, Kiabo marine terminal, Lombo marine terminal and Kiame marine terminal.

(Source:world port source)

Airports


Town

Airport name

Runway length

Ambriz

Ambriz

7800 ft

Cabinda

Cabinda

8200 ft

Huambo

Albano Machado

8700 ft

Kuito

Bie

8200 ft

Luanda

4th Of February

12100 ft

Lubango

Lubango

9800 ft

Luena

Luena

7800 ft

Malange

Malange

7200 ft

Menongue

Menongue

11400 ft

N'giva

N'giva

7800 ft

N'zeto

N'zeto

7200 ft

Namibe

Namibe

8200 ft

Negage

Negage

7800 ft

Saurimo

Saurimo

11100 ft

Soyo

Soyo

6800 ft

Uige

Uige

6500 ft

Wako Kungo

Wako Kungo

6500 ft

Xangongo

Xangongo

6500 ft

(Source: Air charter world)

Internet Access

Internet users in Angola increased from 2005 to 2010. In 2010, the total number of internet users was 607,400 or 4.6% of the total population. There is an increase of 10.43% over the previous year in the number of internet users.

Angola Internet Usage

(Source:internetworldstats)

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