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2023
Economic Complexity
Trade -1.23Rank 120 of 132
2023
Product
Exports | Imports $42.6B | $17.1B62 of 226 |  94 of 226
2023
Per Capita Product
Exports | Imports $1.16k | $464118 of 220 |  183 of 220

About

Overview In 2023, Angola was the number 73 economy in the world in terms of GDP (current US$), the number 62 in total exports, the number 94 in total imports, the number 151 economy in terms of GDP per capita (current US$) and the number 120 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Angola are Crude Petroleum ($31.6B), Diamonds ($5B), Petroleum Gas ($2.57B), Passenger and Cargo Ships ($1.43B), and Special Purpose Ships ($393M), exporting mostly to China ($17.1B), India ($3.87B), United Arab Emirates ($2.75B), Spain ($2.65B), and Netherlands ($2.09B).

Imports The top imports of Angola are Refined Petroleum ($3.38B), Wheat ($606M), Cars ($431M), Delivery Trucks ($365M), and Valves ($316M), importing mostly from China ($3.3B), Portugal ($1.64B), United Arab Emirates ($1.11B), India ($1.02B), and United States ($862M).

Location Angola borders Democratic Republic of the Congo, Republic of the Congo, Namibia, and Zambia by land.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Angola.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Crude Petroleum$31.6B
Top Destination (2023)China$17.1B

In 2023, Angola exported a total of $42.6B, making it the number 62 exporter in the world. During the last five reported years the exports of Angola have changed by -$1.26B from $43.9B in 2018 to $42.6B in 2023.

The most recent exports are led by Crude Petroleum ($31.6B), Diamonds ($5B), Petroleum Gas ($2.57B), Passenger and Cargo Ships ($1.43B), and Special Purpose Ships ($393M). The most common destination for the exports of Angola are China ($17.1B), India ($3.87B), United Arab Emirates ($2.75B), Spain ($2.65B), and Netherlands ($2.09B).

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Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
Spain$813M (+ 44.1%)
Republic of the Congo$736M (+ 146%)
Malaysia$673M (+ 727%)
Fastest Growing Import Markets (2022 - 2023)
Togo$735M (+ 607%)
United Arab Emirates$421M (+ 60.9%)
Cote d'Ivoire$343M (+ 2.15k%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Angola Exports Services (2018)$631M
Angola Imports Services (2018)$10B

In 2018, Angola exported $631M worth of services. The top services exported by Angola in 2018 were Business travel ($452M), Personal travel ($91.8M), Computer and information services ($30.9M), Transportation ($27.9M), and Other business services ($19.9M).

The top services imported by Angola in 2018 were Transportation ($3.32B), Other business services ($2.68B), Construction services ($1.89B), Personal travel ($497M), and Insurance services ($394M).

Service Exports (2018)

Service Imports (2018)

Economic Complexity

Most Specialized Products by RCA Index

Angola has a high level of specialization in Densified Wood (35.6), Diamonds (26.9), Granite (20.4), Iron Ingots (17.9), and Other Sea Vessels (16.8). Specialization is measured using RCA, an index that takes the ratio between Angola observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Angola according to the product complexity index (PCI) are Works trucks, self-propelled, (not fitted with lifting or handling equipment), for factories,... (0.81), Densified wood, in blocks, plates, strips or profile shapes (-0.33), Vessels; other, including warships and lifeboats, other than rowing boats (-0.34), Cruise ships, excursion boats, ferry-boats, cargo ships, barges and similar vessels for... (-0.46), and Fishing vessels, factory ships and other vessels; for processing or preserving fishery... (-0.69). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Angola according to the relatedness index, were Manganese Ore (0.03), Cocoa Shells (0.028), Niobium, Tantalum, Vanadium and Zirconium Ore (0.027), Nickel Ore (0.027), and Refined Petroleum (0.026). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Angola is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Angola. These are products that tend to be co-exported with the products that Angola exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Angola's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨104th to the 120th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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ECI (Trade) Ranking by Country

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