Angola-one of the fastest developing african Nation
General Information
Currency- Kwanza
GDP (purchasing power parity)- Which is evaluated by market price, amount of produce, and price level of the country.
total:$139.059 billion
per capita:$6484 (IMF,2014)
GDP(nominal)-Which is evaluated by the market price, total: $129.785 billion
per capita: $6052 (IMF,2014)
Inflation (2013)- 8.8% (world bank)
Currency- Kwanza
GDP (purchasing power parity)- Which is evaluated by market price, amount of produce, and price level of the country.
total:$139.059 billion
per capita:$6484 (IMF,2014)
GDP(nominal)-Which is evaluated by the market price, total: $129.785 billion
per capita: $6052 (IMF,2014)
Inflation (2013)- 8.8% (world bank)
Economic Indicator:
HDI:
HDI:
What is HDI? According to the united nations development program, HDI is a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and have a decent standard of living. (UNDP) In the graph, it shows that Angola's HDI is increasing year by year, but Angola's HDI ranked 149th place out of 187 countries. This tells that even though Angola's HDI is growing, like other countries in the world, it is still low compared to world average and Angola is still remaining at the level of LEDC and have poor standard of living.
Unemployment and Underemployment:
Unemployment and Underemployment:
Before 2006, Angola used to have very high unemployment rate. The factor that made the decrease of 10% in unemployment rate is Chinese credit. In June, 2005,Chinese Premier Wen Jiabao visits, promised to extend more than $2 billion in new credit, in addition to a $3 billion credit line Beijing has already given Angola.(BBC news) Angolan government used part of the money to create the job opportunity. Due to that, Angola's unemployment rate decreased for 10 %, remaining 26 % of unemployment rate in January of 2014. Even though the unemployment rate have decreased to 26%, it is still very high.
Infant Mortality Rate
Infant Mortality Rate
According to UNICEF, in 2012, under 5 mortality rate was 164 per 1000 births and Infant mortality rate, which is child death under 1 year old, was 100 per 1000 births. Considering the average infant mortality rate of MEDC, which are around 9 deaths per 1000 people, it is very high. In fact, they ranked 2nd place on under-5 mortality rank. The reason for the high infant mortality is the fact that Angola has the poor medical facilities and access to the medicine. If they improve their medical facilities, there is a chance that their infant mortality rate will fall magnificently.
Adult Literacy Rate Also according to UNICEF, during the investigation period of 2008~2012, Angola's adult literacy rate was 70.4%. Since world average of literacy rate is 84.1% (CIA fact book), it is low. The result might have changed because this was from 2~4 years ago. In Angola. Angola's literacy rate is quite low because According to U.S. department of labor, gross primary school enrollment in 1999~2000 was 74 percent and percentage of graduating the primary school was only about 30 percent. Due to that, many kids that are under 15 didn't get the chance of learning the letters and the way of reading it which lead to low adult literacy rate. Per Capita Income Level According to the world bank, Angola's per capita income level is in upper middle income. considering there are average of 8 percent inflation in Angola, and the increase rate is 9.68% (2012->2013) They are doing well on increasing the money distribution based on inflation rate. Most of the Angola's income is generated in oil production because they have one of the biggest oil field in the world. |