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Economy of Angola vs Luxembourg compared: GDP & Debt

Updated on by Georank

Angola has a GDP of $122B compared to $101B for Luxembourg, ranking 68/197 and 75/197 by economy size, respectively.

Angola has $62.7B in government debt (51.3% of GDP), compared to $27.3B (27% of GDP) in Luxembourg.

Angola vs Luxembourg GDP by year

Angola
Luxembourg
1x
Year GDP, current $
Angola Luxembourg
2025 $122,174,889,424 $101,157,829,491
2024 $103,080,538,044 $93,279,851,863
2023 $106,042,349,567 $88,788,881,539
2022 $128,233,959,333 $80,801,680,397
2021 $78,283,923,544 $86,386,759,695
2020 $58,512,033,806 $73,670,782,100
2019 $81,193,813,808 $69,872,035,114
2018 $90,506,061,877 $71,085,623,495
2017 $85,629,598,654 $65,712,180,343
2016 $60,770,049,747 $62,216,885,436
2015 $102,543,067,841 $60,071,584,216
2014 $153,449,860,496 $68,804,814,555
2013 $148,845,200,696 $65,203,276,467
2012 $143,572,907,528 $59,776,383,527
2011 $125,551,634,705 $61,696,281,326
2010 $95,546,919,754 $56,213,985,987
2009 $81,705,175,409 $54,467,289,898
2008 $98,790,432,989 $58,844,277,702
2007 $73,037,821,926 $51,587,401,416
2006 $58,653,659,980 $42,910,153,830
2005 $41,396,636,384 $37,672,311,223
2004 $26,997,977,896 $35,064,843,793
2003 $20,342,128,112 $29,667,268,248
2002 $17,311,512,433 $23,649,832,387
2001 $8,936,079,118 $21,387,550,720
2000 $9,129,594,970 $21,230,200,538
1999 $6,152,923,310 $21,899,317,599
1998 $6,506,221,616 $20,150,055,568
1997 $7,648,380,196 $19,563,836,265
1996 $7,526,421,519 $20,895,314,658
1995 $5,538,749,260 $20,853,093,870
1994 $4,438,321,017 $17,701,798,891
1993 $5,768,720,422 $15,925,521,222
1992 $8,307,810,974 $15,518,702,635
1991 $10,603,784,541 $13,834,219,728
1990 $11,229,515,599 $12,778,792,854
1989 $10,201,780,977 $10,037,674,038
1988 $8,769,836,769 $9,418,167,855
1987 $8,084,412,414 $8,320,902,215
1986 $7,072,536,109 $6,685,595,088
1985 $7,554,065,410 $4,577,211,767
1984 $6,131,475,065 $4,438,435,493
1983 $5,784,341,596 $4,524,217,751
1982 $5,550,483,036 $4,602,316,793
1981 $5,550,483,036 $5,053,665,797
1980 $5,930,503,401 $6,019,805,490
1979 - $5,516,982,664
1978 - $4,718,539,772
1977 - $3,789,321,328
1976 - $3,423,586,207
1975 - $3,123,333,333
1974 - $3,183,637,117
1973 - $2,609,875,802
1972 - $1,901,697,370
1971 - $1,518,773,421
1970 - $1,457,768,455
1969 - $1,245,432,991
1968 - $1,075,561,623
1967 - $983,052,315
1966 - $976,717,015
1965 - $929,477,285
1964 - $910,877,686
1963 - $797,902,154
1962 - $747,846,862
1961 - $710,163,719
1960 - $709,941,874

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

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

GDP per capita in Angola vs Luxembourg by year

Angola
GDP per capita

GDP per capita, PPP
Luxembourg
GDP per capita

GDP per capita, PPP
1x
Year Current $
Angola Luxembourg
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $3,129 - $147,252 -
2024 $2,721 $10,119 $137,782 $155,941
2023 $2,886 $9,754 $133,231 $150,508
2022 $3,599 $9,588 $123,720 $146,919
2021 $2,267 $8,862 $134,966 $136,772
2020 $1,749 $7,827 $116,860 $122,067
2019 $2,508 $8,573 $112,697 $121,372
2018 $2,892 $8,278 $116,927 $116,638
2017 $2,832 $8,007 $110,193 $114,986
2016 $2,082 $7,767 $106,899 $113,365
2015 $3,642 $8,067 $105,462 $107,860
2014 $5,650 $9,018 $123,679 $105,296
2013 $5,689 $8,504 $120,000 $100,925
2012 $5,702 $8,246 $112,585 $96,636
2011 $5,184 $7,538 $119,025 $94,475
2010 $4,102 $7,412 $110,886 $90,336
2009 $3,645 $7,228 $109,420 $86,919
2008 $4,578 $7,316 $120,422 $90,971
2007 $3,515 $6,728 $107,475 $85,126
2006 $2,930 $6,018 $90,789 $78,861
2005 $2,146 $5,416 $80,988 $68,788
2004 $1,451 $4,771 $76,545 $64,686
2003 $1,134 $4,322 $65,689 $60,192
2002 $999 $4,241 $53,006 $58,576
2001 $534 $3,802 $48,440 $56,136
2000 $564 $3,690 $48,660 $55,136
1999 $393 $3,619 $50,872 $49,845
1998 $429 $3,609 $47,445 $44,270
1997 $522 $3,525 $46,642 $42,488
1996 $531 $3,342 $50,444 $39,722
1995 $404 $2,990 $51,032 $38,345
1994 $335 $2,633 $43,933 $37,551
1993 $450 $2,628 $40,067 $35,899
1992 $669 $3,486 $39,571 $34,108
1991 $882 $3,740 $35,747 $33,191
1990 $966 $3,705 $33,465 $29,949
1989 $908 - $26,618 -
1988 $807 - $25,219 -
1987 $770 - $22,443 -
1986 $698 - $18,150 -
1985 $772 - $12,482 -
1984 $650 - $12,127 -
1983 $637 - $12,374 -
1982 $634 - $12,591 -
1981 $658 - $13,837 -
1980 $729 - $16,531 -
1979 - - $15,204 -
1978 - - $13,034 -
1977 - - $10,486 -
1976 - - $9,491 -
1975 - - $8,701 -
1974 - - $8,967 -
1973 - - $7,447 -
1972 - - $5,487 -
1971 - - $4,435 -
1970 - - $4,298 -
1969 - - $3,690 -
1968 - - $3,203 -
1967 - - $2,935 -
1966 - - $2,925 -
1965 - - $2,804 -
1964 - - $2,779 -
1963 - - $2,462 -
1962 - - $2,332 -
1961 - - $2,241 -
1960 - - $2,261 -

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

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

Angola's GDP per capita is $3,129, ranking 142/197, compared to $147,252 in Luxembourg, ranking 3/197. Adjusted for purchasing power (GDP per capita PPP), Angola ranks 133rd at $10,119, while Luxembourg ranks 1st at $155,941.

Economic indicators

Angola Luxembourg
Gross domestic product
$122B
2025
$101B
2025
GDP rank
68/197
2025
75/197
2025
GDP growth
3.13%
2024-2025
0.64%
2024-2025
GDP per capita
$3,129
2025
$147,252
2025
GDP per capita rank
142/197
2025
3/197
2025
GDP per capita, PPP
$10,119
2024
$155,941
2024
GDP per capita PPP rank
133/197
2024
1/197
2024
Government debt
$62.7B
2025
$27.3B
2025
Debt-to-GDP ratio
51.3%
2025
27%
2025
Government debt per person
$1,606
2025
$39,717
2025
Government debt per person rank
127/185
2025
18/185
2025
Average annual personal income after taxes
$2,550
2026
$71,808
2026
Market capitalization of domestic companies n/a
$69.4B
2025
Number of millionaires n/a
85,000
2026
Number of billionaires n/a
1
2026
Income share by richest 10%
39.6%
2018
25%
2023
Income share by poorest 10%
1.3%
2018
2.8%
2023
Government expenditure, % of GDP
18.9%
2025
48.3%
2025
Consumer prices inflation
20.2%
2024-2025
2.26%
2024-2025
Central bank interest rate
17.5%
2026
n/a
Unemployment rate
10.4%
2025
6.5%
2025
Population
40839390
697802

Spending and national debt comparison by year

Angola
Spending

Debt
Luxembourg
Spending

Debt
1x
Year % of GDP
Angola Luxembourg
Government spending Government debt Government spending Government debt
2025 18.9% 51.3% 48.3% 27%
2024 19% 57.1% 46.8% 26.3%
2023 23.3% 75.7% 46.4% 24.7%
2022 24.8% 57.4% 44.3% 24.9%
2021 22.8% 75.5% 42.4% 24.2%
2020 24.4% 119.8% 47% 24.5%
2019 20.9% 100.8% 43.1% 22.3%
2018 17.8% 81.6% 42.3% 20.9%
2017 20.7% 59.6% 41.3% 21.8%
2016 19.1% 65.7% 40% 19.6%
2015 23.9% 50.4% 40.4% 21.1%
2014 32.3% 35.3% 40.6% 21.9%
2013 32.9% 29.5% 41.2% 22.4%
2012 33.2% 23.8% 41.8% 20.8%
2011 33.3% 26.3% 41.5% 18.5%
2010 34.6% 32.6% 42% 19.1%
2009 38.7% 48.4% 42.7% 15.3%
2008 47.2% 28.1% 37.9% 14.6%
2007 34.1% 18.8% 37.4% 8.09%
2006 27.3% 16.7% 39.4% 8.21%
2005 23.7% 29.9% 43.4% 7.95%
2004 26% 41.6% 43.7% 7.83%
2003 30.1% 50.8% 43.3% 7.43%
2002 27.6% 65.1% 41.8% 7.45%
2001 30.3% 100.2% 38.1% 7.62%
2000 35.8% 118.2% 38% 7.49%
1999 45.7% 104.8% 41.7% 8.39%
1998 30.3% 96.3% 43.9% 9.51%
1997 31.1% 73.5% 44.2% 10.1%
1996 29.3% 92% 42.5% 10.2%
1995 - - 42% 10.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1996–1999, retrieved 2026-07-08).

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

In 2025, Angola's government spending was $23B, accounting for 18.9% of its GDP, while Luxembourg spent $48.8B, or 48.3% of GDP.

Debt-to-GDP ratio is 51.3% in Angola and 27% in Luxembourg, ranking 103/185 and 165/185, respectively.

Government deficit by year

Deficit/surplus
Angola

Luxembourg
1x
Year Deficit/surplus, % of GDP
Angola Luxembourg
2025 -4.07% -0.96%
2024 -1.19% 0.89%
2023 -2.49% -0.65%
2022 1.78% 0.21%
2021 1.35% 1.11%
2020 -3.05% -3.09%
2019 -0.2% 2.68%
2018 2% 3.17%
2017 -5.68% 1.37%
2016 -3.93% 1.89%
2015 -2.58% 1.3%
2014 -5.08% 1.33%
2013 -0.28% 0.84%
2012 3.67% 0.5%
2011 7.17% 0.65%
2010 2.96% -0.26%
2009 -6.83% -0.21%
2008 -3.82% 3.37%
2007 3.81% 4.35%
2006 8.42% 1.9%
2005 6.4% -0.21%
2004 1.03% -1.39%
2003 -4.1% 0.28%
2002 -2.24% 2.03%
2001 2.8% 5.62%
2000 2.02% 5.55%
1999 -9.4% 3.24%
1998 -5.92% 2.98%
1997 -0.27% 2.65%
1996 5.22% 2.37%
1995 - 2.71%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08).

GeoRank.org/economy/angola/luxembourg | 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 Luxembourg's deficit of $976M, or 0.96% of GDP.

Over the past 30 years, Angola recorded a fiscal deficit in 17 of those years, while Luxembourg ran a deficit in 7 years. On average, Angola posted an annual deficit equal to 0.42% of GDP, compared to surplus of 1.45% of GDP for Luxembourg.

Inflation comparison by year

Inflation
Angola

Luxembourg
1x
Year Consumer prices inflation
Angola Luxembourg
2025 20.2% 2.26%
2024 28.2% 2.05%
2023 13.6% 3.74%
2022 21.4% 6.34%
2021 25.8% 2.53%
2020 22.3% 0.82%
2019 17.1% 1.74%
2018 19.6% 1.53%
2017 29.8% 1.73%
2016 30.7% 0.29%
2015 9.2% 0.47%
2014 7.3% 0.63%
2013 8.8% 1.73%
2012 10.3% 2.66%
2011 13.5% 3.41%
2010 14.5% 2.27%
2009 13.7% 0.37%
2008 12.5% 3.4%
2007 12.2% 2.31%
2006 13.3% 2.67%
2005 23% 2.49%
2004 43.5% 2.23%
2003 98.2% 2.05%
2002 108.9% 2.07%
2001 152.6% 2.66%
2000 325% 3.15%
1999 248.2% 1.03%
1998 107.4% 0.96%
1997 221.5% 1.37%

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/luxembourg | CC BY

Over the past 29 years, Angola has recorded an average annual inflation rate of 57.7%, compared with 2.1% in Luxembourg. In 2025, inflation was 20.2% in Angola and 2.26% in Luxembourg.

Top exports between countries

Angola
Export category Export value
Machinery & equipment $8.45M
Textiles & consumer goods $20K
Processed food, beverages & tobacco $7K
Raw agricultural goods $6K
Miscellaneous $5K
Luxembourg
Export category Export value
Metals $3.43M
Machinery & equipment $488K
Chemicals & pharma $172K
Raw materials & minerals $38K
Textiles & consumer goods $25K
Wood & paper products $2K
Miscellaneous $1K
Precious metals & jewellery $1K

Balance of trade

Angola Luxembourg
Current account balance
$536M
2025
$5.29B
2025
Current account balance ranking
57/190
2025
31/190
2025
Current account balance, % of GDP
+0.44%
2025
+5.23%
2025
Goods imports
$15.5B
2025
$30.9B
2025
Goods exports
$30.6B
2025
$33B
2025
Service imports
$8.51B
2025
$133B
2025
Service exports
$118M
2025
$167B
2025
Imports of goods and services, % of GDP
11.7%
2025
159.4%
2025
Exports of goods and services, % of GDP
23%
2025
190.5%
2025

Economic freedom indices

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

Angola Luxembourg
Economic freedom 54.4 79.7
Economic freedom ranking 133/197 7/197
Property rights 36.9 96.6
Government integrity 28.3 88.7
Judicial effectiveness 26.3 99.1
Tax burden 86.9 62.3
Government spending 89.3 36.9
Fiscal health 91.9 98.6
Business freedom 42.8 89.5
Labor freedom 50.8 56.7
Monetary freedom 59 74.1
Trade freedom 70.4 79.4
Investment freedom 30 95
Financial freedom 40 80

Economic freedom comparison by year

Angola
Luxembourg
1x
Year Economic freedom index
Angola Luxembourg
2026 54.4 79.7
2025 55 79.5
2024 54.3 79.2
2023 53 78.4
2022 52.6 80.6
2021 54.2 76
2020 52.2 75.8
2019 50.6 75.9
2018 48.6 76.4
2017 48.5 75.9
2016 48.9 73.9
2015 47.9 73.2
2014 47.7 74.2
2013 47.3 74.2
2012 46.7 74.5
2011 46.2 76.2
2010 48.4 75.4
2009 47 75.2
2008 46.9 74.7
2007 44.7 74.6
2006 43.5 75.3
2005 - 76.3
2004 - 78.9
2003 - 79.9
2002 - 79.4
2001 - 80.1
2000 24.3 76.4
1999 23.7 72.4
1998 24.9 72.7
1997 24.2 72.8
1996 24.4 72.5
1995 27.4 -

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

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

The Economic Freedom Index for Angola is 54.4, ranking 133/197, compared to 79.7 for Luxembourg, ranking 7/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Angola Luxembourg
Services, % of GDP
46.8%
2025
81.4%
2025
Industry, % of GDP
27.1%
2025
8.88%
2025
Agriculture, forestry, and fishing, % of GDP
25.2%
2025
0.23%
2025
GNI, Atlas method
$112B
2025
$65.8B
2025
GNI per capita, PPP
$9,840
2025
$106,640
2025
Total reserves including gold
$13.5B
2025
$3.06B
2025
Total reserves ranking
75/177
2025
120/177
2025
Net foreign direct investment
-$1.02B
2025
$196B
2025
Net inflows of foreign direct investment
-$1.11B
2024
$106B
2024
Net outflows of foreign direct investment
$33.1M
2024
$109B
2024
Servicing debt to the IMF, % of GNI
11.3%
2024
n/a
Poverty at national poverty lines
36.6%
2020
17.3%
2021
Gross capital formation, % of GDP
10.6%
2024
15.5%
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/luxembourg | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2021–2025, retrieved 2026-07-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1996–1999, 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.