The signing of the Luena agreement followed by the peace stability after that coincided with the economic recession in which the world economy was. At the time the growth in economy like the Chinese and others in development such as India and Brazil had a big impact over our commercial partners.
Angola by believing in deepening its economical relations with country highly rated in terms of growth is taking advantage of these facts occupying a place amongst the African sub Saharan countries.
The Chinese tax growth in 2004 stood at 9.5% while the developing countries were at 7.3%. These numbers clearly contrasted with the progress of countries in Europe and Japan where the growth was at 2 and 2.7% respectively.
The Angolan tax growth in 2004 was over and above the African continent’s average, standing over the 7% mark with only five other African countries.
In 2005, the economical growth kept on going reaching highs of 19.7% in the oil sector and 10.4% for other economy sectors which represented 15.5% of the combined growth.
In other words, the GDP registered a growth of 9.5 million dollars in 2001 to 30.3 million in 2005 representing an annual growth over 36%.
The oil industry contributed 57% to the GDP in 2005.
As a consequence of that we are watching a progressive integration of Angola in the regional blocks as well as the strengthening of economical and diplomatic relations with neighbouring countries and the economical stability of the market.