Doing business in Angola–

Rewards and Challenges

The Economy

Petroleum-based economy – about 45% of GDP, 85% of government revenue, and 95% of exports

5.1% growth in 2013, but projected to be less in 2014– Non-oil sector expanding much more than oil sector,

and responsible for most new growth

Unemployment rate is 26%

Inflation of 9.3% in 2013 , but was over 100% in 2002

Highly unequal income distribution– 36% below poverty line

181st out of 189 in latest World Bank Doing Business report

Opportunities for U.S. BusinessTrade with U.S. has tripled in past ten years

Infrastructure

Energy Generation & Distribution

Oil & Gas – products & services

Franchises

ICT and telecommunications

Transportation

Education

Medical Devices & Healthcare

Safety & Security

Mining

Agribusiness & Food Processing

Challenges for U.S. Business

Corruption and Government Controls/Bureaucracy– 153 out of 175 on Transparency International Corruption

Perception Index– 160 out of 178 in Heritage Foundation Economic Freedom

Index

History with the United States

Portuguese language

Competition that does not follow the same rules

High costs and difficulty of financing

Visa wait time and conditions

Eric Olson

Senior Commercial Officer– U.S. Embassy Luanda

eric.olson@trade.gov

David Ballard

Advisor– Global Markets Africa

david.ballard@trade.gov

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