Angola
As a least-developed country (LDC), Angola is a beneficiary of the EU's "Everything but Arms" (EBA) arrangement. Angola was slated to graduate from LDC status in 2024 but failed to meet the graduation criteria in that years and thus will remain an LDC for the foreseeable future. The World Bank considers Angola a lower middle-income economy with a per-capita income of $2,308 in 2023. EU imports from Angola amounted to about €9.4 billion in 2023, mostly mineral fuels. As these enter the EU duty-free under the normal tariff regime, the scope for preferential imports is limited - these reached €44.5 million in 2023.
What is the EBA?
The EBA arrangement covers all LDCs as classified by the United Nations. This arrangement enables duty-free and quota-free access for all products originating in LDCs except for arms and ammunition. Unlike beneficiaries of the Standard GSP and GSP+, LDCs are not excluded from the scheme if they benefit from other preferential arrangements or agreements with the EU.
At a glance: EU preferential imports from EBA beneficiary countries (2023, € million)
36.7M (2023)
Population
Presidential Republic
Government
1.0% (2023)
GDP Growth
13.6% (2023)
Inflation
$ 84.8B (2023)
GDP
Facts about Angola's economy
Oil sector dependency
Economic development in Angola is mainly driven by the oil sector. Growth in the oil sector especially contributed to the country’s reconstruction following the 27 year long civil war which ended in 2002. However, the dependency on the oil sector also makes Angola vulnerable to fluctuations on the world market.
Export Products
Mineral fuels and oils are by far the most important export product for Angola, followed by diamonds and fish products.
Trade Partners
Angola's most important trading partner is China with a share of 32.2% in 2023, followed by the EU (28.9%), which is Angola's largest supplier.
Economic Structure
The Angolan economy is dominated by oil production. The manufacturing sector centres around petroleum refineries and the production of equipment for the petroleum industry. Other industries include processed food, textiles, and electrical goods. The majority of Angola's population is employed in the agricultural sector, which is dominated by small-scale subsistence farming.
Usage of EBA Preferences
Currently less than 1% of overall EU imports from Angola make use of EBA preferences (mostly because mineral fuels are duty-free in the EU anyway). The preference utilisation rate, which represents the ratio of preferential imports to GSP eligible imports, currently stands at 85% (2023).
Trade with the EU
Total trade with the EU amounted to € 16.2 billion in 2023. The EU is by far the most important source of Angola's imports: 28.9% of imports originated in the EU in 2023. The same share of Angola's exports is destined for the EU.
Angola and the EU
Imports from Angola by product section (2023, € million)
Imports from Angola over time (€ million)
ANGOLA AND THE EU GSP
Economic Impact
1%
Only a tiny fraction of Angola's exports to the EU were eligible for EBA preferences in 2023.
85%
Angola's preference utilisation rate in 2023.
100%
Share of zero-duty imports from Angola. Most imports are duty-free under normal EU tariffs.
Preference utilisation and export diversification
EU imports from Angola (€ million)
Preference utilisation (%) vs. total eligible imports (in € million)
EBA-eligible imports from Angola were relatively high in 2021 to 2023 compared to previous years but nevertheless account for only a fraction of the EU's total imports from Angola (mostly mineral fuels). Angola’s preference utilisation rate has substantially increased over the years, indicating that the country has made increasing use of its preferential access to the EU market. Utilisation rates have been well above 80% since 2020. At the level of the product section, most major product groups make almost full use of preferences. This includes for example exports of fish products, fruits and vegetables, as well as coffee, tea and spices, for which preferential tariffs were used for more than 99% of eligible exports. Preferences for some other important product sections are more limited - especially for base metals and machinery; for these, meeting rules of origin is more difficult.
The largest product sections under EBA (€ million, 2023)
Almost EU imports from Angola consist of mineral products and precious stones, which are mostly traded under MFN zero duties. Imports under the EBA are fish and crustaceans, fruit and vegetables, and food preparations, all of which have utilisation rates close to 100%.
SUSTAINABLE DEVELOPMENT
Angola's preferential access to the EU market, as a beneficiary of the EU's EBA scheme, is not bound to the ratification of international conventions. Nonetheless, Angola maintains a high level of ratification of fundamental international conventions on human rights and labour standards. Angola has ratified 14 out of 15 core UN and ILO conventions and signals further commitment through the ratification of 8 environmental protection conventions and 4 conventions on good governance.
Core international conventions on human rights and labour standards
Ratified
- International Convention on the Elimination of All Forms of Racial Discrimination (1969)
- International Covenant on Civil and Political Rights (1976)
- International Covenant on Economic Social and Cultural Rights (1976)
- Convention on the Elimination of All Forms of Discrimination Against Women (1981)
- Convention Against Torture and other Cruel, Inhuman or Degrading Treatment or Punishment (1987)
- Convention on the Rights of the Child (1990)
- Convention concerning Forced or Compulsory Labour, No 29 (1930)
- Convention concerning Freedom of Association and Protection of the Right to Organise, No 87 (1948)
- Convention concerning the Application of the Principles of the Right to Organise and to Bargain Collectively, No 98 (1949)
- Convention concerning Equal Remuneration of Men and Women Workers for Work of Equal Value, No 100 (1951)
- Convention concerning the Abolition of Forced Labour, No 105 (1957)
- Convention concerning Discrimination in Respect of Employment and Occupation, No 111 (1958)
- Convention concerning Minimum Age for Admission to Employment, No 138 (1973)
- Convention concerning the Prohibition and Immediate Action for the Elimination of the Worst Forms of Child Labour, No 182 (1999)
Not Ratified
- Convention on the Prevention and Punishment of the Crime of Genocide (1948)
Additional Conventions
- Convention on International Trade in Endangered Species of Wild Fauna and Flora (1973)
- Montreal Protocol on Substances that Deplete the Ozone Layer (1987)
- Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and Their Disposal (1989)
- Convention on Biological Diversity (1992)
- The United Nations Framework Convention on Climate Change (1992)
- Cartagena Protocol on Biosafety (2000)
- Stockholm Convention on persistent Organic Pollutants (2001)
- Kyoto Protocol to the United Nations Framework Convention on Climate Change (1998)
- United Nations Single Convention on Narcotic Drugs (1961)
- United Nations Convention on Psychotropic Substances (1971)
- United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances (1988)
- United Nations Convention against Corruption (2004)
EU-Angola Bilateral Development Cooperation
DG INTPA
Access all info about EU-Angola relations on the International Partnerships website.