Crony financing does not pave the way to long-term growth

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 94.6bn (World ranking 66, World Bank 2019)
Population 32mn (World ranking 45, World Bank 2019)
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
  • High debt
  • Low export diversification: oil accounting for 98% of export revenues. 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
  • 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
  • Data provision remains uneven

Trade structure by destination/origin

(% of total)

Exports Rank Imports
China 46%
1
15% Portugal
India 6%
2
13% China
Spain 6%
3
12% United States
United States 5%
4
6% South Africa
Taiwan 5%
5
5% Brazil

Trade structure by product

(% of total)

Exports Rank Imports
Petroleum, petroleum products and related materials 97%
1
9% Other industrial machinery and parts
Crude fertilizers other than division 56, and crude minerals 2%
2
8% Road vehicles
Fish, crustaceans, molluscs and preparations thereof 0%
3
6% Specialised machinery
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