Angola has diamonds, oil, gold, copper and rich wildlife (which was dramatically depleted during the civil... View more
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Angola has diamonds, oil, gold, copper and rich wildlife (which was dramatically depleted during the civil war), forest and fossil fuels. Since independence, oil and diamonds have been the most important economic resource. Smallholder and plantation agriculture dramatically dropped in the Angolan Civil War, but began to recover after 2002.
Angola’s economy has in recent years moved on from the disarray caused by a quarter-century of Angolan civil war to become the fastest-growing economy in Africa and one of the fastest-growing in the world, with an average GDP growth of 20% between 2005 and 2007. in the period 2001–10, Angola had the world’s highest annual average GDP growth, at 11.1%.
In 2004, the Exim Bank of China approved a $2 billion line of credit to Angola, to be used for rebuilding Angola’s infrastructure, and to limit the influence of the International Monetary Fund there. Nigeria’s economy is the largest in Africa, the 27th-largest in the world by nominal GDP, and 25th-largest by PPP.
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