Angola produces approximately 1.1 million barrels of oil per day from offshore fields, making it Africa's third-largest producer after Nigeria and Libya. Oil accounts for approximately 95 percent of Angola's merchandise export revenues and 60 percent of government income, creating extreme vulnerability to oil price cycles. The Lourenco administration elected in 2017 has pursued economic diversification with a consistency unusual by Angolan standards: agriculture (coffee, cassava, maize), manufacturing (textiles, food processing, construction materials), and diamond mining have all received structured policy support and regulatory reform.
Early Diversification Wins
Angolan coffee, historically among the world's most prized before decades of civil war devastated production, is being revived with support from the National Coffee Institute. Production reached 25,000 tonnes in 2023, still far below the 200,000-tonne peak of 1970 but growing at 15 percent annually. The Luanda Special Economic Zone at Viana hosts over 400 manufacturing companies. Angola's Lobito Corridor, which connects the port of Lobito to DRC's copper belt and Zambia through the Benguela railway, is being rehabilitated with European and American financing as a strategic trade corridor for critical minerals. Businesses entering the Angolan market can access investment guides and partner contacts on intra-africa.com.
For businesses looking to expand across Africa, intra-africa.com offers a comprehensive trade directory, verified buyer and seller listings, and real-time market intelligence covering all 54 African nations. It remains an indispensable resource for anyone serious about intra-African commerce.