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Economy of Angola vs Ethiopia compared: GDP & Debt

Updated on by Georank team

Angola has a GDP of $101B compared to $150B for Ethiopia, ranking 71/197 and 60/197 by economy size, respectively.

Angola has $60.5B in government debt (59.9% of GDP), compared to $48.9B (32.7% of GDP) in Ethiopia.

Angola vs Ethiopia GDP by year

Angola
Ethiopia
1x
Year GDP, current $
Angola Ethiopia
2024 $100,998,916,781 $149,740,297,953
2023 $107,167,747,140 $135,874,093,202
2022 $131,212,208,930 $123,140,304,666
2021 $79,559,543,805 $109,070,960,372
2020 $58,852,456,454 $98,676,811,061
2019 $80,734,428,593 $91,834,517,113
2018 $89,512,794,227 $83,337,901,072
2017 $84,376,935,689 $76,366,081,767
2016 $59,878,249,719 $68,475,871,210
2015 $102,543,067,841 $62,103,418,182
2014 $153,449,860,496 $55,612,228,234
2013 $148,845,200,697 $47,648,276,605
2012 $143,572,907,528 $43,310,721,414
2011 $125,551,634,704 $31,952,763,089
2010 $95,546,919,755 $29,933,790,334
2009 $81,705,175,408 $32,437,389,116
2008 $98,790,432,989 $27,066,912,635
2007 $73,037,821,927 $19,707,616,773
2006 $58,653,659,980 $15,280,861,835
2005 $41,396,636,383 $12,401,139,454
2004 $26,997,977,897 $10,131,187,261
2003 $20,342,128,112 $8,623,691,300
2002 $17,311,512,432 $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 (1960–2024, retrieved 2026-04-06).

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
2024 $2,666 $10,119 $1,134 $3,288
2023 $2,916 $9,754 $1,056 $3,061
2022 $3,682 $9,588 $982 $2,845
2021 $2,304 $8,862 $893 $2,588
2020 $1,759 $7,827 $830 $2,407
2019 $2,494 $8,573 $793 $2,242
2018 $2,860 $8,278 $740 $2,095
2017 $2,791 $8,007 $696 $2,005
2016 $2,052 $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 (1960–2024, retrieved 2026-04-06).

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

Angola's GDP per capita is $2,666, ranking 144/197, compared to $1,134 in Ethiopia, ranking 171/197. 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
$101B
2024
$150B
2024
GDP rank
71/197
2024
60/197
2024
GDP growth
4.42%
2023-2024
7.61%
2023-2024
GDP per capita
$2,666
2024
$1,134
2024
GDP per capita rank
144/197
2024
171/197
2024
GDP per capita, PPP
$10,119
2024
$3,288
2024
GDP per capita PPP rank
133/197
2024
175/197
2024
Government debt
$60.5B
2024
$48.9B
2024
Debt-to-GDP ratio
59.9%
2024
32.7%
2024
Government debt per person
$1,597
2024
$370
2024
Government debt per person rank
127/185
2024
172/185
2024
Average annual personal income after taxes
$28,080
2026
$1,946
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
18.4%
2024
9.54%
2024
Consumer prices inflation
28.2%
2023-2024
21%
2023-2024
Central bank interest rate
18%
2023
n/a
Unemployment rate
14.1%
2022
3.94%
2021
Population
40555924
139917664

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
2024 18.4% 59.9% 9.54% 32.7%
2023 18.8% 72.4% 10.8% 38.7%
2022 19.5% 56.1% 12.7% 46.9%
2021 17.3% 74.3% 13.8% 53.8%
2020 20% 119.1% 14.5% 53.7%
2019 18.2% 101.4% 15.4% 54.7%
2018 18.3% 82.5% 16.1% 58.4%
2017 21% 60.5% 18% 55.3%
2016 19.4% 66.7% 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 39.4% 104.8% 25.8% 94.3%
1998 26.1% 96.3% 20.4% 86%
1997 26.8% 73.5% 17.3% 77.4%
1996 25.2% 92% 18.2% 129%
1995 - - 16.9% 142.3%
1994 - - 17.1% 150.7%
1993 - - 13.4% 136.9%
1992 - - 13.8% 85.4%
1991 - - 16.8% 89.3%
1990 - - 20.3% 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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1999, retrieved 2026-02-20).

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

In 2024, Angola's government spending was $18.6B, accounting for 18.4% of its GDP, while Ethiopia spent $14.3B, or 9.54% of GDP.

Debt-to-GDP ratio is 59.9% in Angola and 32.7% in Ethiopia, ranking 78/185 and 150/185, respectively.

Government deficit by year

Deficit/surplus
Angola

Ethiopia
1x
Year Deficit/surplus, % of GDP
Angola Ethiopia
2024 -1.01% -1.99%
2023 -1.83% -2.6%
2022 0.58% -4.16%
2021 3.4% -2.77%
2020 -1.66% -2.76%
2019 0.69% -2.53%
2018 2.03% -3.03%
2017 -5.75% -3.24%
2016 -3.98% -2.3%
2015 -2.57% -1.95%
2014 -5.07% -2.58%
2013 -0.27% -1.93%
2012 3.68% -1.17%
2011 7.2% -1.61%
2010 2.98% -1.32%
2009 -6.8% -0.93%
2008 -3.8% -2.88%
2007 3.85% -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 -8.1% -8.23%
1998 -5.1% -3.51%
1997 -0.23% -1.7%
1996 4.49% -3.81%
1995 - -2.68%
1994 - -5.23%
1993 - -4%
1992 - -4.78%
1991 - -5.83%
1990 - -6.66%
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20).

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

In 2024, Angola's government deficit, the difference between spending and revenue, was $1.02B, equivalent to 1.01% of GDP. This compares to Ethiopia's deficit of $2.98B, or 1.99% of GDP.

Over the past 29 years, Angola recorded a fiscal deficit in 15 of those years, while Ethiopia ran a deficit in 29 years. On average, Angola posted an annual deficit equal to 0.1% of GDP, compared to deficit of 3.28% of GDP for Ethiopia.

Inflation comparison by year

Inflation
Angola

Ethiopia
1x
Year Consumer prices inflation
Angola Ethiopia
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 (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Angola has recorded an average annual inflation rate of 59%, compared with 13.6% in Ethiopia. In 2024, inflation was 28.2% in Angola and 21% 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
$6.31B
2024
-$3.79B
2024
Current account balance ranking
30/190
2024
160/190
2024
Current account balance, % of GDP
+6.25%
2024
-2.53%
2024
Goods imports
$14.2B
2024
$19.6B
2024
Goods exports
$36.8B
2024
$5.58B
2024
Service imports
$8.49B
2024
$5.51B
2024
Service exports
$129M
2024
$7.61B
2024
Imports of goods and services, % of GDP
19.4%
2024
11.9%
2024
Exports of goods and services, % of GDP
31.5%
2024
5.54%
2024

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 2026-03-09).

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
41.1%
2024
37.5%
2024
Industry, % of GDP
34.6%
2024
25.4%
2024
Agriculture, forestry, and fishing, % of GDP
22.1%
2024
34.8%
2024
GNI, Atlas method
$108B
2024
$146B
2024
GNI per capita, PPP
$9,460
2024
$3,280
2024
Total reserves including gold
$14.2B
2024
$3.78B
2024
Total reserves ranking
69/177
2024
109/177
2024
Net foreign direct investment
$1.14B
2024
-$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
11.5%
2024
0.91%
2024
Poverty at national poverty lines
36.6%
2020
33.1%
2021
Gross capital formation, % of GDP
10.4%
2024
20.6%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1980–1999, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.