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Economy of Angola vs Ethiopia compared: GDP & Debt

Updated on by Georank

Angola has a GDP of $122B compared to $126B for Ethiopia, ranking 68/197 and 66/197 by economy size, respectively.

Angola has $62.7B in government debt (51.3% of GDP), compared to $54.4B (43.1% of GDP) in Ethiopia.

Angola vs Ethiopia GDP by year

Angola
Ethiopia
1x
Year GDP, current $
Angola Ethiopia
2025 $122,174,889,424 $126,358,758,448
2024 $103,080,538,044 $149,740,297,952
2023 $106,042,349,567 $135,874,093,203
2022 $128,233,959,333 $123,140,304,665
2021 $78,283,923,544 $109,070,960,371
2020 $58,512,033,806 $98,676,811,062
2019 $81,193,813,808 $91,834,517,114
2018 $90,506,061,877 $83,337,901,072
2017 $85,629,598,654 $76,366,081,767
2016 $60,770,049,747 $68,475,871,210
2015 $102,543,067,841 $62,103,418,182
2014 $153,449,860,496 $55,612,228,234
2013 $148,845,200,696 $47,648,276,605
2012 $143,572,907,528 $43,310,721,414
2011 $125,551,634,705 $31,952,763,089
2010 $95,546,919,754 $29,933,790,334
2009 $81,705,175,409 $32,437,389,116
2008 $98,790,432,989 $27,066,912,635
2007 $73,037,821,926 $19,707,616,773
2006 $58,653,659,980 $15,280,861,835
2005 $41,396,636,384 $12,401,139,454
2004 $26,997,977,896 $10,131,187,261
2003 $20,342,128,112 $8,623,691,300
2002 $17,311,512,433 $7,850,809,498
2001 $8,936,079,118 $8,231,326,016
2000 $9,129,594,970 $8,242,349,618
1999 $6,152,923,310 $7,892,973,532
1998 $6,506,221,616 $8,013,274,132
1997 $7,648,380,196 $8,803,539,988
1996 $7,526,421,519 $8,761,215,548
1995 $5,538,749,260 $7,855,205,207
1994 $4,438,321,017 $7,100,806,754
1993 $5,768,720,422 $9,051,043,870
1992 $8,307,810,974 $10,754,799,037
1991 $10,603,784,541 $13,799,799,324
1990 $11,229,515,599 $12,478,943,895
1989 $10,201,780,977 $11,762,932,007
1988 $8,769,836,769 $11,181,119,718
1987 $8,084,412,414 $10,790,001,558
1986 $7,072,536,109 $10,094,328,898
1985 $7,554,065,410 $9,717,392,687
1984 $6,131,475,065 $8,298,309,581
1983 $5,784,341,596 $8,781,664,427
1982 $5,550,483,036 $7,899,988,841
1981 $5,550,483,036 $7,507,663,567
1980 $5,930,503,401 $7,012,585,454
1979 - $6,586,048,398
1978 - $6,014,961,435
1977 - $5,651,840,585
1976 - $4,943,806,093
1975 - $4,577,047,854
1974 - $4,577,209,966
1973 - $4,070,570,550
1972 - $3,520,252,938
1971 - $3,224,280,835
1970 - $3,045,354,455
1969 - $2,768,987,372
1968 - $2,619,948,865
1967 - $2,461,762,003
1966 - $2,324,466,416
1965 - $2,159,998,591
1964 - $1,984,129,186
1963 - $1,825,058,828
1962 - $1,747,566,307
1961 - $1,680,859,514
1960 - $1,610,511,694

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/angola/ethiopia | CC BY

GDP per capita in Angola vs Ethiopia by year

Angola
GDP per capita

GDP per capita, PPP
Ethiopia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Angola Ethiopia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $3,129 - $933 -
2024 $2,721 $10,119 $1,134 $3,288
2023 $2,886 $9,754 $1,056 $3,061
2022 $3,599 $9,588 $982 $2,845
2021 $2,267 $8,862 $893 $2,588
2020 $1,749 $7,827 $830 $2,407
2019 $2,508 $8,573 $793 $2,242
2018 $2,892 $8,278 $740 $2,095
2017 $2,832 $8,007 $696 $2,005
2016 $2,082 $7,767 $642 $1,858
2015 $3,642 $8,067 $598 $1,633
2014 $5,650 $9,018 $550 $1,485
2013 $5,689 $8,504 $484 $1,253
2012 $5,702 $8,246 $452 $1,179
2011 $5,184 $7,538 $343 $1,098
2010 $4,102 $7,412 $331 $996
2009 $3,645 $7,228 $369 $899
2008 $4,578 $7,316 $316 $845
2007 $3,515 $6,728 $237.1 $770
2006 $2,930 $6,018 $189.3 $693
2005 $2,146 $5,416 $158.2 $625
2004 $1,451 $4,771 $133.2 $558
2003 $1,134 $4,322 $116.8 $493
2002 $999 $4,241 $109.6 $509
2001 $534 $3,802 $118.5 $509
2000 $564 $3,690 $122.3 $474
1999 $393 $3,619 $120.7 $450
1998 $429 $3,609 $126.5 $436
1997 $522 $3,525 $143.4 $461
1996 $531 $3,342 $147.3 $453
1995 $404 $2,990 $136.5 $409
1994 $335 $2,633 $127.7 $391
1993 $450 $2,628 $168.5 $384
1992 $669 $3,486 $207.4 $343
1991 $882 $3,740 $277.6 $383
1990 $966 $3,705 $262.1 $417
1989 $908 - $256.4 -
1988 $807 - $253.2 -
1987 $770 - $254.1 -
1986 $698 - $246 -
1985 $772 - $243.9 -
1984 $650 - $214.2 -
1983 $637 - $232.7 -
1982 $634 - $215.3 -
1981 $658 - $212.7 -
1980 $729 - $203.7 -
1979 - - $192.4 -
1978 - - $178.3 -
1977 - - $170.4 -
1976 - - $152 -
1975 - - $144.3 -
1974 - - $147.9 -
1973 - - $134.9 -
1972 - - $119.8 -
1971 - - $112.7 -
1970 - - $109.4 -
1969 - - $102.3 -
1968 - - $99.5 -
1967 - - $96.1 -
1966 - - $93.2 -
1965 - - $88.9 -
1964 - - $83.8 -
1963 - - $79.2 -
1962 - - $77.8 -
1961 - - $76.7 -
1960 - - $75.3 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/angola/ethiopia | CC BY

Angola's GDP per capita is $3,129, ranking 142/197, compared to $933 in Ethiopia, ranking 182/197. Adjusted for purchasing power (GDP per capita PPP), Angola ranks 133rd at $10,119, while Ethiopia ranks 175th at $3,288.

Economic indicators

Angola Ethiopia
Gross domestic product
$122B
2025
$126B
2025
GDP rank
68/197
2025
66/197
2025
GDP growth
3.13%
2024-2025
9.77%
2024-2025
GDP per capita
$3,129
2025
$933
2025
GDP per capita rank
142/197
2025
182/197
2025
GDP per capita, PPP
$10,119
2024
$3,288
2024
GDP per capita PPP rank
133/197
2024
175/197
2024
Government debt
$62.7B
2025
$54.4B
2025
Debt-to-GDP ratio
51.3%
2025
43.1%
2025
Government debt per person
$1,606
2025
$402
2025
Government debt per person rank
127/185
2025
172/185
2025
Average annual personal income after taxes
$2,550
2026
$2,030
2026
Income share by richest 10%
39.6%
2018
24.8%
2021
Income share by poorest 10%
1.3%
2018
3.5%
2021
Government expenditure, % of GDP
18.9%
2025
12%
2025
Consumer prices inflation
20.2%
2024-2025
13.2%
2024-2025
Central bank interest rate
17.5%
2026
n/a
Unemployment rate
10.4%
2025
3.94%
2021
Population
40839390
140722974

Spending and national debt comparison by year

Angola
Spending

Debt
Ethiopia
Spending

Debt
1x
Year % of GDP
Angola Ethiopia
Government spending Government debt Government spending Government debt
2025 18.9% 51.3% 12% 43.1%
2024 19% 57.1% 9.54% 33.4%
2023 23.3% 75.7% 10.8% 38.7%
2022 24.8% 57.4% 12.7% 46.9%
2021 22.8% 75.5% 13.8% 53.8%
2020 24.4% 119.8% 14.5% 53.2%
2019 20.9% 100.8% 15.4% 54.7%
2018 17.8% 81.6% 16.1% 58.4%
2017 20.7% 59.6% 18% 55.3%
2016 19.1% 65.7% 17.9% 51.8%
2015 23.9% 50.4% 17.3% 50.7%
2014 32.3% 35.3% 17.5% 44.2%
2013 32.9% 29.5% 17.8% 44.1%
2012 33.2% 23.8% 16.6% 39.4%
2011 33.3% 26.3% 18.2% 44.6%
2010 34.6% 32.6% 18.5% 39.4%
2009 38.7% 48.4% 17.1% 30%
2008 47.2% 28.1% 18.8% 56.1%
2007 34.1% 18.8% 20.5% 55.7%
2006 27.3% 16.7% 22.1% 79.6%
2005 23.7% 29.9% 22.9% 78.2%
2004 26% 41.6% 23.1% 103.1%
2003 30.1% 50.8% 27% 103.7%
2002 27.6% 65.1% 24.9% 107.4%
2001 30.3% 100.2% 22.4% 97.3%
2000 35.8% 118.2% 25.6% 93.6%
1999 45.7% 104.8% 26.8% 97.8%
1998 30.3% 96.3% 21.1% 89.3%
1997 31.1% 73.5% 17.9% 80.3%
1996 29.3% 92% 18.8% 132.8%
1995 - - 17.4% 146.6%
1994 - - 17.6% 155.2%
1993 - - 13.8% 141%
1992 - - 14.2% 87.9%
1991 - - 17.3% 89.3%
1990 - - 20.9% 91.6%
1989 - - 24% 84.7%
1988 - - 21.6% 84.3%
1987 - - 18.4% 82.3%
1986 - - 19.8% 75.7%
1985 - - 19.7% 67.7%
1984 - - 18.8% 65.4%
1983 - - 21.3% 55.2%
1982 - - 16.4% 48.8%
1981 - - 14.2% 30.6%
1980 - - 13.5% 18.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1999, retrieved 2026-07-08).

GeoRank.org/economy/angola/ethiopia | CC BY

In 2025, Angola's government spending was $23B, accounting for 18.9% of its GDP, while Ethiopia spent $15.2B, or 12% of GDP.

Debt-to-GDP ratio is 51.3% in Angola and 43.1% in Ethiopia, ranking 103/185 and 122/185, respectively.

Government deficit by year

Deficit/surplus
Angola

Ethiopia
1x
Year Deficit/surplus, % of GDP
Angola Ethiopia
2025 -4.07% -1.19%
2024 -1.19% -1.99%
2023 -2.49% -2.6%
2022 1.78% -4.16%
2021 1.35% -2.77%
2020 -3.05% -2.76%
2019 -0.2% -2.53%
2018 2% -3.03%
2017 -5.68% -3.24%
2016 -3.93% -2.3%
2015 -2.58% -1.95%
2014 -5.08% -2.58%
2013 -0.28% -1.93%
2012 3.67% -1.17%
2011 7.17% -1.61%
2010 2.96% -1.32%
2009 -6.83% -0.93%
2008 -3.82% -2.88%
2007 3.81% -3.57%
2006 8.42% -3.79%
2005 6.4% -4.12%
2004 1.03% -2.65%
2003 -4.1% -5.59%
2002 -2.24% -5.76%
2001 2.8% -3.76%
2000 2.02% -8.88%
1999 -9.4% -8.54%
1998 -5.92% -3.65%
1997 -0.27% -1.76%
1996 5.22% -3.93%
1995 - -2.76%
1994 - -5.39%
1993 - -4.12%
1992 - -4.92%
1991 - -6%
1990 - -6.86%
1989 - -4.33%
1988 - -3.48%
1987 - -3.54%
1986 - -3.98%
1985 - -4.71%
1984 - -3.69%
1983 - -7.59%
1982 - -3.6%
1981 - -2.19%
1980 - -2.56%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-07-08).

GeoRank.org/economy/angola/ethiopia | CC BY

In 2025, Angola's government deficit, the difference between spending and revenue, was $4.97B, equivalent to 4.07% of GDP. This compares to Ethiopia's deficit of $1.5B, or 1.19% of GDP.

Over the past 30 years, Angola recorded a fiscal deficit in 17 of those years, while Ethiopia ran a deficit in 30 years. On average, Angola posted an annual deficit equal to 0.42% of GDP, compared to deficit of 3.23% of GDP for Ethiopia.

Inflation comparison by year

Inflation
Angola

Ethiopia
1x
Year Consumer prices inflation
Angola Ethiopia
2025 20.2% 13.2%
2024 28.2% 21%
2023 13.6% 30.2%
2022 21.4% 33.9%
2021 25.8% 26.8%
2020 22.3% 20.4%
2019 17.1% 15.8%
2018 19.6% 13.8%
2017 29.8% 10.7%
2016 30.7% 6.63%
2015 9.2% 9.57%
2014 7.3% 6.89%
2013 8.8% 7.46%
2012 10.3% 23.6%
2011 13.5% 33.2%
2010 14.5% 8.15%
2009 13.7% 8.48%
2008 12.5% 44.4%
2007 12.2% 17.2%
2006 13.3% 12.3%
2005 23% 9.97%
2004 43.5% 3.33%
2003 98.2% 13.7%
2002 108.9% 0.68%
2001 152.6% -8.24%
2000 325% 0.66%
1999 248.2% 7.94%
1998 107.4% 0.89%
1997 221.5% 2.4%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/angola/ethiopia | CC BY

Over the past 29 years, Angola has recorded an average annual inflation rate of 57.7%, compared with 13.6% in Ethiopia. In 2025, inflation was 20.2% in Angola and 13.2% in Ethiopia.

Top exports between countries

Angola
Export category Export value
Animal & marine products $24K
Machinery & equipment $20K
Processed food, beverages & tobacco $10K
Metals $8K
Textiles & consumer goods $7K
Raw materials & minerals $5K
Chemicals & pharma $3K
Precious metals & jewellery $1K
Ethiopia
Export category Export value
Machinery & equipment $385K
Raw agricultural goods $365K
Processed food, beverages & tobacco $202K
Textiles & consumer goods $70K
Chemicals & pharma $26K
Wood & paper products $2K
Metals $1K

Balance of trade

Angola Ethiopia
Current account balance
$536M
2025
-$3.79B
2024
Current account balance ranking
57/190
2025
154/190
2024
Current account balance, % of GDP
+0.44%
2025
-2.53%
2024
Goods imports
$15.5B
2025
$19.6B
2024
Goods exports
$30.6B
2025
$5.58B
2024
Service imports
$8.51B
2025
$5.51B
2024
Service exports
$118M
2025
$7.61B
2024
Imports of goods and services, % of GDP
11.7%
2025
20.2%
2025
Exports of goods and services, % of GDP
23%
2025
13.3%
2025

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Angola Ethiopia
Economic freedom 54.4 48.1
Economic freedom ranking 133/197 171/197
Property rights 36.9 22.1
Government integrity 28.3 33.2
Judicial effectiveness 26.3 19.1
Tax burden 86.9 78.6
Government spending 89.3 96.4
Fiscal health 91.9 84.3
Business freedom 42.8 44.5
Labor freedom 50.8 37.8
Monetary freedom 59 53.7
Trade freedom 70.4 57.4
Investment freedom 30 30
Financial freedom 40 20

Economic freedom comparison by year

Angola
Ethiopia
1x
Year Economic freedom index
Angola Ethiopia
2026 54.4 48.1
2025 55 48.1
2024 54.3 47.9
2023 53 48.3
2022 52.6 49.6
2021 54.2 51.7
2020 52.2 53.6
2019 50.6 53.6
2018 48.6 52.8
2017 48.5 52.7
2016 48.9 51.5
2015 47.9 51.5
2014 47.7 50
2013 47.3 49.4
2012 46.7 52
2011 46.2 50.5
2010 48.4 51.2
2009 47 53
2008 46.9 52.5
2007 44.7 53.6
2006 43.5 50.9
2005 - 51.1
2004 - 54.5
2003 - 48.8
2002 - 49.8
2001 - 48.9
2000 24.3 50.2
1999 23.7 46.7
1998 24.9 49.2
1997 24.2 48.1
1996 24.4 45.9
1995 27.4 42.6

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/angola/ethiopia | CC BY

The Economic Freedom Index for Angola is 54.4, ranking 133/197, compared to 48.1 for Ethiopia, ranking 171/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Angola Ethiopia
Services, % of GDP
46.8%
2025
36.6%
2025
Industry, % of GDP
27.1%
2025
27.8%
2025
Agriculture, forestry, and fishing, % of GDP
25.2%
2025
32.8%
2025
GNI, Atlas method
$112B
2025
$151B
2025
GNI per capita, PPP
$9,840
2025
$3,620
2025
Total reserves including gold
$13.5B
2025
$3.78B
2024
Total reserves ranking
75/177
2025
113/177
2024
Net foreign direct investment
-$1.02B
2025
-$4.02B
2024
Net inflows of foreign direct investment
-$1.11B
2024
$4.02B
2024
Net outflows of foreign direct investment
$33.1M
2024
$0
2024
Servicing debt to the IMF, % of GNI
11.3%
2024
0.91%
2024
Poverty at national poverty lines
36.6%
2020
33.1%
2021
Gross capital formation, % of GDP
10.6%
2024
20.1%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/angola/ethiopia | CC BY

Compare countries by 7 more topics

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1980–1999, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2021–2024, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.