Stay Connected through WTCSD  Join Our Network on LinkedIn Like Us on Facebook View Our Blogs Follow Us on Twitter Watch Us on YouTube See Us on flickr Sign-up for The Trader
WTCSD Home

Angola

Back to Region

Background

Economy - overview: Angola is an economy in disarray because of a quarter century of nearly continuous warfare. Subsistence agriculture provides the main livelihood for 85% of the population. Oil production and the supporting activities are vital to the economy, contributing about 45% to GDP and 90% of exports. Violence continues, millions of land mines remain, and many farmers are reluctant to return to their fields. As a result, much of the country's food must still be imported. To fully take advantage of its rich natural resources - gold, diamonds, extensive forests, Atlantic fisheries, and large oil deposits - Angola will need to end its conflict and continue reforming government policies. Internal strife discourages investment outside of the petroleum sector, which is producing roughly 800,000 barrels of oil per day. While Angola made progress in bringing inflation down further, from over 300% in 2000 to about 110% in 2001, the government has failed to make sufficient progress on reforms recommended by the IMF, such as increasing foreign exchange reserves and promoting greater transparency in government spending. Angola's GDP could be among the world's fastest growing in 2002 if oil production from the Girassol field, which began production in December 2001, reaches 200,000 barrels per day as expected.

Civil war has been the norm in Angola since independence from Portugal in 1975. A 1994 peace accord between the government and the National Union for the Total Independence of Angola (UNITA) provided for the integration of former UNITA insurgents into the government and armed forces. A national unity government was installed in April of 1997, but serious fighting resumed in late 1998, rendering hundreds of thousands of people homeless. Up to 1.5 million lives may have been lost in fighting over the past quarter century.

Holidays

Jan 1 - New Year's Day
Jan 4 - Martyrs of the Colonial Repression Day
Feb 4 - Start of Liberation War
Mar 8 - International Women's Day
Apr 4 - Peace and Reconciliation Day
Apr 9 - Good Friday
Apr 12 - Easter Monday
May 1 - Labour Day
May 25 - Africa Day
Jun 1 - International Children's Day
Sep 17 - Nation's Founder and National Hero's Day
Nov 2 - All Soul's Day
Nov 11 - Independence Day
Dec 25 - Christmas Day

Ps: Holidays falling on a Saturday or Sunday are observed the following Monday.
 

Phone Codes

Country Code 244
City Codes
Luada 2

Resources

Market Research

CIA - The World Factbook - Angola
This website indicates a wide range of detail information about Angola by introducing under 8 different fields as its geography,people, government, economy, communications, transportation, military, transnational issues.

About Angola
There is available to find out Angola's general outlook on the issues of its social and business profile, passport/visa, money, accomodation, government, duty free, health and so forth.

Angola Foreign Investment Institute
This institution mainly offers background information about investment climate in Angola through providing a comprehensive outlook.

OPIC Links - Investor's Information Gateway for Angola
There is available country database information links which are efficient for the new investors planned to do business in Angola including the contact lists of the institutions, organization related to Angola's business.

U.S. Department of State - Bureau of Consular Affairs - For Angola
U.S. Bureau of Consular Affairs creates a wide range of research on Angola in terms of analyzing its social, political, cultural & economic environments.

Trade Information

US-Angola Chamber of Commerce
It is the official website of the US- Angola Chamber which dedicates to the promotion of trade and investment between the United States and Angola.

Angola Area Chamber of Commerce
The main objectives of this Chamber are to provide business promotion, serve as an information resource and boceme a proponent of economic development.

Embassy Listings For Angola
There are listed the embassies of the republic of Angola including the embassies' contact information.

Angola Government Online
This is the official website of Angola government that displays the structure of Angolian government by looking at its political units, branches, ministries and so forth in details.

 
 
Powered by Wild Apricot Membership Software