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🇦🇴 #Angola's economy has been heavily dependent on oil exports, the primary source of its forex.
There's a need for economic diversification and it remains muted; however, we see some green shoots, exports rising
Follow the thread🧵 #AngolanEconomy
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There's a need for economic diversification and it remains muted; however, we see some green shoots, exports rising
Follow the thread🧵 #AngolanEconomy
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According to the Harvard Growth Lab Atlas of Economic Complexity, Angola's exports indicated the lowest ranking in the World in 2020.
Exports are 99% crude, refined oil, LNG, and diamonds.
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Exports are 99% crude, refined oil, LNG, and diamonds.
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👀Looking at tax authority data up to April 2023, we look at what non-oil exports are beginning to appear in statistics.
Legacy non-oil exports include wood, shrimp and cement.
Except for wood, no sustainable growth there.
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Legacy non-oil exports include wood, shrimp and cement.
Except for wood, no sustainable growth there.
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