Angola is an oil-rich nation located in southern Africa, on the Atlantic coast of Africa, and bordered by Namibia, Zambia and the Democratic Republic of the Congo. President Jose Eduardo dos Santos’ ruling party, the People’s Movement for the Liberation of Angola, won a further term at August 2012 elections, having taken 72% at the polls. The country has come a long way since its civil war ended in 2002. In 11 years, Angola has managed to transform its economy with a real GDP estimated at 7.2% in 2013 and 7.5% in 2014 respectively. This is an impressive increase in real GDP from 3.5% in 2011, due to the rise in oil prices (oil production is expected to increase to over two million barrels a day) and the growth of 7.7% of other non-oil sectors. The growth in GDP is also attributed to the star t of the Angola Liquefied Natural Gas project that will cost US$9 billion. The economy has a huge structural dependence on oil.
