Country Information - Angola
ECONOMIC BACKGROUNDAngola has been an economy in disarray due to a quarter century of nearly continuous warfare. An apparently durable peace was established after the death of rebel leader Jonas Savimbi on February 22, 2002, but consequences from the conflict continue including the impact of wide-spread land mines.
Subsistence agriculture provides the main livelihood for 85% of the population, with industry and service contributing a 15% share. Oil production and the supporting activities are vital to the economy, contributing about 45% to GDP and more than half of exports. Other economic activities include mining (diamonds, iron ore, phosphates, feldspar etc.), food processing, brewing and a number of agricultural activities (tobacco, sugar, forest products, fish, cotton etc.). Much of the country's food must however still be imported.
To fully take advantage of its rich natural resources - gold, diamonds, extensive forests, Atlantic fisheries, and large oil deposits (production: 740,000bbl/day est. in 2002) - Angola will need to continue reforming government policies. While Angola made progress in bringing inflation down further, from 325% in 2000 to about 106% in 2002, the government has not made sufficient progress on reforms recommended by the IMF such as increasing foreign exchange reserves and promoting greater transparency in government spending. Increased oil production should bring about 6% GDP growth in 2003. (Source: World Factbook, 2004)
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BI-LATERAL TRADE OVERVIEWTo Angola, the United States is its most important export partner, accounting for over 40% of total exports in 2002. The trade data (see graph) illustrates that bi-lateral trade between Angola and the US is largely one-way, with exports to the US exceeding imports from the US almost 10-fold in 2002.
Angola is the third-largest source of imports to the US of all AGOA-eligible Sub-Saharan African countries, after Nigeria and South Africa. However, these imports are concentrated in the energy-related sectors, since Angola is an important producer of oil. In fact, during 2002 energy-related goods shipped to the US from Angola accounted for 99% of Angola’s total exports to that country.
In terms of imports, Angola sources mainly transportation equipment from the US, followed by agricultural products and a host of manufactured goods. The country’s trade surplus with the US has been hovering in the region of US$ 3bn over the past few years.
Detailed bilateral trade data for this country, disaggregated by industry sector, can be accessed by following the link below. Aggregate data featuring all AGOA-eligible countries is updated on this website as soon as new data is published, including ranked AGOA / non-AGOA trade, aggregate trade by industry sector as well as the latest apparel trade data.
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21 AGOA FORUM 2013: Ethiopia will host the 2013 US-Africa AGOA Forum. AGOA.info has been informed that the Forum will not take place as envisaged on 28 June - 1 July, but at a later date yet to be determined. The theme for this year’s Forum is “Trade and Technology for sustained change”“
21 December 2012: Guinea-Bissau and Mali lose AGOA eligibility
APRIL 2013: Monthly data has been updated to include February 2013 data, quarterly includes full year 2012 data.
New US strategy towards Africa: White House Factsheet on new strategy towards Africa, plus overview of past US engagement with Africa. Click here for the file and this link for a summary article.
02 August 2012: Bill to extend third country fabric provision passes Congress Download the House of Reps. Bill at this link
South Sudan declared AGOA-eligible on 26 March 2012. Earlier, Cote d'Ivoire, Niger and Gambia declared AGOA eligible on 25 October 2011. See news item, presidential declaration and trade overview at this link (S Sudan) and here (others).
US GSP extended and GSP benefits to be applied retrospectively for the year 2011 since expiry of previous GSP. See AGOA.info legal documents section at the following link.
AGOA at 10: Reflections on US-Africa trade with a focus on SACU: Tralac Working Paper that can be downloaded at this
December 2010: The Democratic Republic of Congo loses its AGOA eligibility status. See proclamation here (pdf download available at this link
ITC investigation of textiles and apparel: Further details at this link
AGOA IV – Changes to AGOA explained
For disaggregated trade data covering each AGOA country, follow the relevant link in the Country Sections (left column) or click here.
For detailed AGOA maps click here