Economy of Angola
Angola is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Angola may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Angola exports around $70.84 billion and imports roughly $26.09 billion. 8.2% of population in the country are unemployed. The total number of unemployed people in Angola is 2,523,485. In Angola, 41% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Angola is very high when compared with other nations. This situation is indicative of a variety of alarming economic and political factors. It is not advisable to make any investments in countries with this level of poverty. Government expenditure on education is 2.6% of GDP. The Gini Index of the country is 42.7. Angola is experiencing poor equality. The gap between the richest and poorest citizens in this country is quite noticeable. Angola has a Human Development Index (HDI) of 0.526. Angola has an upper medium HDI score. This indicates that the majority of citizens will be able to attain a desirable life, though some citizens will not be able to achieve high living standards. The Global Peace Index (GPI) for Angola is 2.02. The strength of legal rights index for Angola is 1. Overall, it is considered to be rather weak - bankrupcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible.
Currency
The currency of Angola is Angolan kwanza. There are several plural forms of the name 'Angolan kwanza'. These are kwanza, kwanzas. The symbol used for this currency is Kz, and it is abbreviated as AOA. The Angolan kwanza is divided into Centimo; there are 100 in one kwanza.
Credit rating
The depth of credit information index for Angola is 0, which means that information, if any, is scarce, of insufficient details and almost inaccessible. According to the S&P credit-rating agency, Angola has a credit rating score of BB-, and the prospects of this rating are stable. According to the Fitch credit-rating agency, Angola has a credit rating score of BB-, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Angola has a credit rating score of Ba2, and the prospects of this rating are stable.
Central bank
The prime lending rate of Angola's commercial banks is 15.2. In Angola, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of Angola. Locally, the central bank of Angola is called Banco Nacional de Angola. The average deposit interest rate offered by local banks in Angola is 3.9%.
Public debt
The government debt of Angola has not been calculated yet.
Tax information
The corporate tax in Angola is set at 35%. Personal income tax ranges from 0% to 17%, depending on your specific situation and income level. VAT in Angola is 10%, and it is known as Consumption Tax.
Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Angola is $139.059 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Angola was last recorded at $0 million. PPP in Angola is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Angola is 130 billion. Based on this statistic, Angola is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Angola was last recorded at $0 million. The average citizen in Angola has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Angola averaged 3.9% in 2014. According to this percentage, Angola is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Angola.
Industry
Major industries in the country are petroleum, diamonds, iron ore, phosphates, feldspar, bauxite, uranium, and gold, cement, basic metal products, fish processing, food processing, brewing, tobacco products, sugar, textiles, ship repair. The total labor force of Angola is 12,298,760 people, wherein 8.2% of population in the country are unemployed. The total number of unemployed people in Angola is 2,523,485. The Industrial Production growth rate of Angola is 1.76%.To read more about industrial information within Angola click on industry of Angola.
Agriculture
There are 33038 km2 of arable land in Angola, and it comprises 3% of the country's total territory. There are 35905 km2 of cultivated land in Angola. The country's major agricultural crops and products are bananas, sugarcane, coffee, sisal, corn, cotton, manioc, tobacco, vegetables, plantains, livestock, forest products, fish.To read more about agriculture click on agriculture of Angola.