No swift recovery in sight

D4

HIGH RISK

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

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GDP USD 62.3bnbn (World ranking 70, World Bank 2020)
Population 32.9mn (World ranking 44, World Bank 2020)
Form of state Presidential republic
Head of state
João Lourenço (President)
Next elections 2022, legislative
  • Relatively peaceful elections
  • Despite bordering DR Congo, there are no significant threats to security from external forces
  • Membership of OPEC. Second largest oil producer in Sub-Saharan Africa, with proven reserves sufficient for more than 20 years at current rates of extraction
  • In addition to hydrocarbons, possesses significant natural resources through its mining (including diamonds) and agricultural sectors
  • Considerable FDI inflows from advanced and emerging economies
  • Unsustainable public debt accumulation dynamics
  • Low export diversification, with oil accounting for 95% of export revenues. High vulnerability to volatility in global markets and to potential large swings in oil prices
  • Rebuilding and reconstruction of economic and social communities after a debilitating civil war require considerable resources
  • Low growth and persistent pockets of high poverty
  • Perceptions of corruption and lack of transparency in oil accounts. Limited confidence in the country’s leadership and low investment from advanced economies in the non-oil sectors

Trade structure by destination/origin

(% of total, annual 2020)

Exports Rank Imports
China 58.0%
1
17.9% China
India 8.8%
2
12.9% Portugal
United States of America 3.5%
3
6.2% United States
South Africa 3.2%
4
5.3% Belgium
Spain 3,0%
5
5,3% Korea, Republic of

Trade structure by product

(% of total, annual 2020)

Exports Rank Imports
Petroleum, petroleum products and related materials 88.8%
1
8.8% Petroleum, petroleum products and related materials
Crude fertilizers other than division 56, and crude minerals 3.6%
2
7.4% Other industrial machinery and parts
Gas, natural and manufactured 3.3%
3
6.7% Cereals and cereal preparations
Popular Risk Reports: Americas

Popular Risk Reports: Europe

Popular Risk Reports: Asia Pacific

Popular Risk Reports: Middle East

Popular Risk Reports: Africa