Angola's Economy: Resource Wealth Amidst Inequality and Challenges

Angola's Wealth and Challenges

Angola's economy is built on abundant natural resources:

• Oil & Gas: 2nd largest producer in sub-Saharan Africa (after Nigeria).
• Diamonds: Major global producer.
• Other Minerals: Iron ore, copper, gold.

Key Figures (2019)

• GDP: US$63.4 billion (5th largest in sub-Saharan Africa).
• GDP per capita: US$3,961.
• Gini Index: 51.3 (high inequality).

Challenges

Oil price volatility, corruption, lack of transparency, and limited diversification hinder broad-based prosperity. Addressing governance and investing in human capital are critical for sustainable development.