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telephone: [1] (202) 785-1156 FAX: [1] (202) 785-1258 consulate(s) general: New York Diplomatic representation from the US: chief of mission: Ambassador Joseph G. SULLIVAN embassy: number 32 Rua Houari Boumeddienne, Luanda mailing address: international mail: Caixa Postal 6484, Luanda; pouch: American Embassy Luanda, Department of State, Washington, DC 20521-2550 telephone: [244] (2) 345-481, 346-418 FAX: [244] (2) 346-924 Flag description: two equal horizontal bands of red (top) and black with a centered yellow emblem consisting of a five-pointed star within half a cogwheel crossed by a machete (in the style of a hammer and sickle) Angola Economy Economy - overview: Angola is an economy in disarray because of a quarter century of nearly continuous warfare. Despite its abundant natural resources, output per capita is among the world's lowest. Subsistence agriculture provides the main livelihood for 85% of the population. Oil production and the supporting activities are vital to the economy, contributing about 45% to GDP and 90% of exports. Violence continues, millions of land mines remain, and many farmers are reluctant to return to their fields. As a result, much of the country's food must still be imported. To fully take advantage of its rich resources - gold, diamonds, extensive forests, Atlantic fisheries, and large oil deposits - Angola will need to end its conflict and continue reforming government policies. Despite the increase in the pace of civil warfare in late 1998, the economy grew by an estimated 5% in 2000. The government introduced new currency denominations in 1999, including 1 and 5 kwanza notes. Internal strife discourages investment outside of the petroleum sector, which is producing roughly 800,000 barrels of oil per day. Angola has entered into a Staff Monitored Program (SMP) with the IMF. Continued growth depends on sharp cuts in inflation, further economic reform, and a lessening of fighting. GDP: purchasing power parity - $10.1 billion (2000 est.) GDP - real growth rate: 4.9% (2000 est.) GDP - per capita: purchasing power parity - $1,000 (2000 est.) GDP - composition by sector: agriculture: 7% industry: 60% services: 33% (1999 est.) Population below poverty line: NA% Household income or consumption by percentage share: lowest 10%: NA% highest 10%: NA% Inflation rate (consumer prices): 325% (2000 est.) Labor force: 5 million
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