Angola has an ambudance of natural resources particularly petroleum and diamonds, as well as iron, manganese,copper, phosphate, granite and marble.
The main petroleum exploration are located near the cost, in the provinces of Cabinda, Zaire (Soyo) and Lunda. Oil production in Angola is responsible for about Half of the national GDP and about 75% of the goverment revenues.
The diamond rich Lunda zone is considered to be the world's most important diamond production Area. Angola is fourht-largest producer of rough diamondsin the world. Angola has potencial to further increase diamond output, and benefit from a high propotion of its production being of gem quality. Angola's diamond deposites includes Kimberlite deposite and lluvial deposits. Diamonds production In Angola is divied between the the formal sector, with companies lincenced by Endiama, and the informal sector comprised of artisan diggers, many without a licence.
Fishing is an important resource for Angola. With 1,650 km of the coast , Angola is rich in fish molluscs and crustaceans. Fishing is concentrated in the province of Namibe, where cold-waters species are predominant. tropical specieas appear in the south , in the province of Benguela.Forest are situated in the mainly in Cabinda ( Mayombe forest) where there are abundant stocks of great economic value such as blackwood, ironwood, ebony and African sandalwood.
Angola is a potencial wealthy country. With enoutmous resource of oil, diamonds, gas as well considerable hydroelectric potencial, varied a gricultual land, with adequate rainfal. despite these resources, decades of war have resultted in economic performance below its real potencial in the industrial world.
Since peace, the perfomance of Angola's economy at the macroeconomic level has improved, resulting in a more stable economy. The improvement has been praised by International Monetary Fund. This stability has been achieved byt a strategy of macroeconomic adjustment, mostly through inflation reduction ans exchange rate dismobilization. Microeconomics stability continues to be one of the most importants objectives of Angola's goverment.
The Angolan goverment is focusing on publics investment, namely in basic infrastructure, to enhance the economic conditions for the development of the non-oil sector. The main objective of this investment programme is to reduce the strong depencence of Angolan economy on ol, decrease its vulneralbility to en eventual oil price reduction, and simultaneously support the recovery of other sectors of the economy. This investment plan has two major goals:
- Build infratrusture to support the normal development of economy activies
- Direct investment promotion in key sectors such as agriculture, fishing and animal husbandry farming and industry.
