Adelman, Kenneth L.
April 1975
Foreign Affairs;Apr1975, Vol. 53 Issue 3, p558
Angola is a rich and relatively unexploited country. Indeed few territories have become independent with such wealth in mineral resources and such promise of a booming economy. Oil, diamonds and iron ore have been found in abundance and no one can say what else exists in the land that has been minimally prospected. Because of its mineral wealth, Angola may well become one of the richest countries in Africa. Unprocessed primary products account for 80 percent of total exports, including a substantial agricultural output. With such natural resources, it is not surprising that the economy is booming. Since 1966, Angola's real growth rate has been over six percent and its total exports grew 37 percent during 1973, resulting in an increase in the balance of trade of an astounding 83 percent. Statistics for 1974 will be even brighter, as the surplus in the balance of trade for the first quarter of 1974 almost equaled that of the entire previous year, with exports shooting up 184 percent over the first quarter of 1973 While the economy has slowed down somewhat since last summer as a result of the political uncertainty, it should pick up when a stable government becomes established.


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