According to allcitypopulation, Angola is a country located in the southern part of Africa, bordered by Namibia to the south, Zambia to the east, and the Democratic Republic of Congo to the north. It has an area of 1.25 million square kilometers and a population of over 25 million people. The terrain is mostly high plateau and savanna with some mountainous regions in the south and north. The climate is generally tropical with two distinct seasons: a dry season from May to October and a wet season from November to April. According to Petwithsupplies, the capital city of Angola is Luanda with a population of 6,400,000 (2014 census). Other major cities include Lubango with a population of 732,000, Huambo with a population of 666,000, Cabinda with a population of 598,000, Benguela with a population of 513,000 (2014 Census).
The economy of Angola is largely dependent on its oil production, which accounts for nearly 85% of its exports earnings and more than 50% of its GDP. Angola’s oil reserves are estimated at around 5 billion barrels, making it one of the top ten oil producers in Africa. Other exports include diamonds, coffee, sisal, timber, cotton, fish products and petroleum derivatives. In addition to natural resources, agriculture also plays an important role in Angola’s economy as it accounts for around 15% of GDP and employs approximately 40% of Angola’s population. The main crops grown are cassava, maize corn, beans, sweet potatoes and bananas while livestock farming is also practiced throughout the country. Industry makes up only 10% of GDP but includes mining (diamonds), food processing (fish) and manufacturing (textiles).
Foreign Trade of Angola
Angola’s foreign trade is heavily reliant on its oil exports, accounting for over 90% of its total exports. The main export partners are China, India, the United States, and the European Union countries. Other commodities exported include diamonds, coffee, sisal, timber, cotton and fish products. Angola’s main imports include machinery and transport equipment (such as cars), foodstuffs (such as wheat), chemicals (such as fertilizers) and petroleum derivatives. Angola also imports a significant amount of capital goods (such as computers) to support its industrial activities.
In terms of foreign investment in Angola, the country has seen an increase in recent years due to its political stability and economic growth potential. Major investors include China, Brazil, Portugal and the United States. These investors have mainly focused on infrastructure development such as roads, airports and telecommunications systems while some have also invested in natural resource extraction industries such as diamond mining. The government is actively encouraging foreign direct investment through tax incentives and other measures in order to spur economic growth.
Major Trading Partners of Angola
Angola’s major trading partners include China, India, the United States, and the European Union countries. China is Angola’s top trading partner and accounts for over 60% of Angola’s total exports, mainly oil. In addition to oil, Angola also exports diamonds, coffee, sisal and timber to China. India is the second largest trading partner of Angola with a trade balance favouring India. The main imports from India include machinery and transport equipment (such as cars), foodstuffs (such as wheat) and chemicals (such as fertilizers). The United States is another important trade partner of Angola with a trade balance in favour of the United States. Major imports from the US include petroleum derivatives and capital goods (such as computers). Finally, the European Union countries are an important market for Angolan exports such as oil, diamonds, coffee and timber while they also import machinery and transport equipment (such as cars), foodstuffs (such as wheat) and chemicals (such as fertilizers) from Angola.
In addition to these major trading partners, Angola has increased its regional integration efforts in recent years by signing free trade agreements with other African nations such as South Africa and Zimbabwe. These agreements have helped to reduce trade barriers between African countries while also encouraging investment in regional industries such as agriculture and manufacturing. As a result of these efforts, there has been an increase in foreign direct investment into Angola from other African countries which will help further boost economic growth in the future.
Major Imports and Exports of Angola
Angola’s major exports include oil, diamonds, coffee, sisal and timber. Oil accounts for over 80% of Angola’s total exports and is the country’s most important export commodity. Angola is the second-largest oil producer in Sub-Saharan Africa and has the ninth-largest reserves of crude oil in the world. Diamonds are Angola’s second-most important export commodity with diamond mining providing employment for thousands of people in rural areas. Coffee is another important export commodity with Angola being one of the top ten producers of coffee in Africa. Sisal and timber are also exported to other countries while there is some domestic consumption as well.
Angola’s major imports include machinery and transport equipment (such as cars), foodstuffs (such as wheat) and chemicals (such as fertilizers). Machinery and transport equipment account for more than a third of total imports into Angola while foodstuffs make up around 20% of imports. Chemicals comprise almost 10% of imports into the country while other items such as textiles, medical equipment, iron ore, steel products and paper products also make up a significant portion of total imports.
In recent years, Angola has increased its regional integration efforts by signing free trade agreements with other African nations such as South Africa and Zimbabwe which have helped reduce trade barriers between African countries while also encouraging investment in regional industries such as agriculture and manufacturing. As a result, there has been an increase in foreign direct investment into Angola from other African countries which will help further boost economic growth in the future.