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Economy of Angola vs Zambia compared: GDP & Debt

Updated on by Georank

Angola has a GDP of $122B compared to $28.9B for Zambia, ranking 68/197 and 116/197 by economy size, respectively.

Angola has $62.7B in government debt (51.3% of GDP), compared to $24.8B (86% of GDP) in Zambia.

Angola vs Zambia GDP by year

Angola
Zambia
1x
Year GDP, current $
Angola Zambia
2025 $122,174,889,424 $28,879,806,220
2024 $103,080,538,044 $25,303,185,342
2023 $106,042,349,567 $27,577,956,471
2022 $128,233,959,333 $29,163,782,140
2021 $78,283,923,544 $22,096,416,932
2020 $58,512,033,806 $18,137,764,931
2019 $81,193,813,808 $23,308,667,781
2018 $90,506,061,877 $26,311,507,274
2017 $85,629,598,654 $25,873,601,261
2016 $60,770,049,747 $20,958,412,538
2015 $102,543,067,841 $21,251,216,799
2014 $153,449,860,496 $27,141,023,558
2013 $148,845,200,696 $28,037,239,463
2012 $143,572,907,528 $25,503,060,420
2011 $125,551,634,705 $23,459,515,276
2010 $95,546,919,754 $20,265,559,484
2009 $81,705,175,409 $15,328,342,304
2008 $98,790,432,989 $17,910,858,638
2007 $73,037,821,926 $14,056,957,976
2006 $58,653,659,980 $12,756,858,899
2005 $41,396,636,384 $8,331,870,169
2004 $26,997,977,896 $6,221,110,219
2003 $20,342,128,112 $4,901,869,764
2002 $17,311,512,433 $4,193,850,445
2001 $8,936,079,118 $4,094,441,301
2000 $9,129,594,970 $3,600,632,111
1999 $6,152,923,310 $3,404,284,891
1998 $6,506,221,616 $3,537,741,942
1997 $7,648,380,196 $4,303,288,480
1996 $7,526,421,519 $3,597,220,962
1995 $5,538,749,260 $3,806,983,413
1994 $4,438,321,017 $3,656,806,166
1993 $5,768,720,422 $3,273,505,344
1992 $8,307,810,974 $3,182,810,841
1991 $10,603,784,541 $3,376,806,697
1990 $11,229,515,599 $3,288,381,797
1989 $10,201,780,977 $3,994,673,161
1988 $8,769,836,769 $3,728,878,149
1987 $8,084,412,414 $2,265,250,972
1986 $7,072,536,109 $1,664,413,508
1985 $7,554,065,410 $2,252,454,500
1984 $6,131,475,065 $2,719,518,933
1983 $5,784,341,596 $3,321,048,451
1982 $5,550,483,036 $3,871,117,093
1981 $5,550,483,036 $4,008,126,497
1980 $5,930,503,401 $3,884,530,854
1979 - $3,353,445,378
1978 - $2,811,032,473
1977 - $2,515,296,940
1976 - $2,742,859,263
1975 - $2,442,672,141
1974 - $2,910,981,262
1973 - $2,434,255,237
1972 - $1,872,416,680
1971 - $1,653,259,341
1970 - $1,788,779,285
1969 - $1,926,399,230
1968 - $1,573,739,371
1967 - $1,340,639,464
1966 - $1,238,999,505
1965 - $1,061,199,576
1964 - $822,639,671
1963 - $704,339,719
1962 - $679,279,729
1961 - $682,359,727
1960 - $698,739,721

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

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

GDP per capita in Angola vs Zambia by year

Angola
GDP per capita

GDP per capita, PPP
Zambia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Angola Zambia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $3,129 - $1,318 -
2024 $2,721 $10,119 $1,187 $4,215
2023 $2,886 $9,754 $1,331 $4,077
2022 $3,599 $9,588 $1,447 $3,841
2021 $2,267 $8,862 $1,127 $3,503
2020 $1,749 $7,827 $952 $3,157
2019 $2,508 $8,573 $1,259 $3,361
2018 $2,892 $8,278 $1,464 $3,442
2017 $2,832 $8,007 $1,483 $3,392
2016 $2,082 $7,767 $1,239 $3,313
2015 $3,642 $8,067 $1,296 $3,337
2014 $5,650 $9,018 $1,707 $3,441
2013 $5,689 $8,504 $1,821 $3,477
2012 $5,702 $8,246 $1,710 $3,324
2011 $5,184 $7,538 $1,625 $3,228
2010 $4,102 $7,412 $1,451 $3,098
2009 $3,645 $7,228 $1,136 $2,872
2008 $4,578 $7,316 $1,376 $2,708
2007 $3,515 $6,728 $1,119 $2,555
2006 $2,930 $6,018 $1,052 $2,378
2005 $2,146 $5,416 $711 $2,213
2004 $1,451 $4,771 $549 $2,068
2003 $1,134 $4,322 $446 $1,942
2002 $999 $4,241 $394 $1,837
2001 $534 $3,802 $397 $1,785
2000 $564 $3,690 $359 $1,709
1999 $393 $3,619 $350 $1,654
1998 $429 $3,609 $373 $1,601
1997 $522 $3,525 $466 $1,631
1996 $531 $3,342 $400 $1,585
1995 $404 $2,990 $433 $1,501
1994 $335 $2,633 $426 $1,464
1993 $450 $2,628 $391 $1,607
1992 $669 $3,486 $389 $1,505
1991 $882 $3,740 $423 $1,534
1990 $966 $3,705 $422 $1,522
1989 $908 - $526 -
1988 $807 - $504 -
1987 $770 - $315 -
1986 $698 - $238.2 -
1985 $772 - $332 -
1984 $650 - $413 -
1983 $637 - $520 -
1982 $634 - $627 -
1981 $658 - $670 -
1980 $729 - $669 -
1979 - - $595 -
1978 - - $514 -
1977 - - $474 -
1976 - - $533 -
1975 - - $490 -
1974 - - $601 -
1973 - - $518 -
1972 - - $410 -
1971 - - $372 -
1970 - - $414 -
1969 - - $459 -
1968 - - $387 -
1967 - - $341 -
1966 - - $325 -
1965 - - $287.4 -
1964 - - $230 -
1963 - - $203.2 -
1962 - - $202.3 -
1961 - - $209.7 -
1960 - - $221.6 -

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

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

Angola's GDP per capita is $3,129, ranking 142/197, compared to $1,318 in Zambia, ranking 170/197. Adjusted for purchasing power (GDP per capita PPP), Angola ranks 133rd at $10,119, while Zambia ranks 166th at $4,215.

Economic indicators

Angola Zambia
Gross domestic product
$122B
2025
$28.9B
2025
GDP rank
68/197
2025
116/197
2025
GDP growth
3.13%
2024-2025
3.76%
2024-2025
GDP per capita
$3,129
2025
$1,318
2025
GDP per capita rank
142/197
2025
170/197
2025
GDP per capita, PPP
$10,119
2024
$4,215
2024
GDP per capita PPP rank
133/197
2024
166/197
2024
Government debt
$62.7B
2025
$24.8B
2025
Debt-to-GDP ratio
51.3%
2025
86%
2025
Government debt per person
$1,606
2025
$1,133
2025
Government debt per person rank
127/185
2025
140/185
2025
Average annual personal income after taxes
$2,550
2026
$1,538
2026
Market capitalization of domestic companies n/a
$14.9B
2025
Income share by richest 10%
39.6%
2018
39.1%
2022
Income share by poorest 10%
1.3%
2018
1.5%
2022
Government expenditure, % of GDP
18.9%
2025
29.7%
2025
Consumer prices inflation
20.2%
2024-2025
13.9%
2024-2025
Central bank interest rate
17.5%
2026
13.3%
2026
Unemployment rate
10.4%
2025
5.67%
2024
Population
40839390
22844606

Spending and national debt comparison by year

Angola
Spending

Debt
Zambia
Spending

Debt
1x
Year % of GDP
Angola Zambia
Government spending Government debt Government spending Government debt
2025 18.9% 51.3% 29.7% 86%
2024 19% 57.1% 26.5% 125.2%
2023 23.3% 75.7% 27.4% 129.1%
2022 24.8% 57.4% 28.2% 99.5%
2021 22.8% 75.5% 30.5% 111%
2020 24.4% 119.8% 34% 140%
2019 20.9% 100.8% 29.8% 103.3%
2018 17.8% 81.6% 27.7% 81.2%
2017 20.7% 59.6% 25% 66.6%
2016 19.1% 65.7% 23.9% 61.2%
2015 23.9% 50.4% 27.6% 61.9%
2014 32.3% 35.3% 24.3% 33.9%
2013 32.9% 29.5% 24% 25.9%
2012 33.2% 23.8% 21.9% 24.9%
2011 33.3% 26.3% 19.5% 20.8%
2010 34.6% 32.6% 18.1% 18.9%
2009 38.7% 48.4% 17.8% 20.5%
2008 47.2% 28.1% 19.5% 19.2%
2007 34.1% 18.8% 19.9% 21.9%
2006 27.3% 16.7% 19.7% 25%
2005 23.7% 29.9% 22.5% 75.7%
2004 26% 41.6% 23.3% 129.9%
2003 30.1% 50.8% 27.3% 159.5%
2002 27.6% 65.1% 27.6% 180.2%
2001 30.3% 100.2% 28% 210.2%
2000 35.8% 118.2% 21.4% 261%
1999 45.7% 104.8% - -
1998 30.3% 96.3% - -
1997 31.1% 73.5% - -
1996 29.3% 92% - -

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

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

In 2025, Angola's government spending was $23B, accounting for 18.9% of its GDP, while Zambia spent $8.58B, or 29.7% of GDP.

Debt-to-GDP ratio is 51.3% in Angola and 86% in Zambia, ranking 103/185 and 35/185, respectively.

Government deficit by year

Deficit/surplus
Angola

Zambia
1x
Year Deficit/surplus, % of GDP
Angola Zambia
2025 -4.07% -3.83%
2024 -1.19% -3.46%
2023 -2.49% -5.48%
2022 1.78% -7.82%
2021 1.35% -8.13%
2020 -3.05% -13.8%
2019 -0.2% -9.41%
2018 2% -8.31%
2017 -5.68% -7.5%
2016 -3.93% -5.69%
2015 -2.58% -8.88%
2014 -5.08% -5.43%
2013 -0.28% -6.4%
2012 3.67% -3.16%
2011 7.17% -1.78%
2010 2.96% -2.43%
2009 -6.83% -2.06%
2008 -3.82% -0.67%
2007 3.81% -1.04%
2006 8.42% 16.9%
2005 6.4% -2.37%
2004 1.03% -2.51%
2003 -4.1% -5.31%
2002 -2.24% -4.5%
2001 2.8% -5.89%
2000 2.02% 1.16%
1999 -9.4% -
1998 -5.92% -
1997 -0.27% -
1996 5.22% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1996–2025, retrieved 2026-07-08).

GeoRank.org/economy/angola/zambia | 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 Zambia's deficit of $1.11B, or 3.83% of GDP.

Over the past 26 years, Angola recorded a fiscal deficit in 14 of those years, while Zambia ran a deficit in 24 years. On average, Angola posted an annual deficit equal to 0.08% of GDP, compared to deficit of 4.14% of GDP for Zambia.

Inflation comparison by year

Inflation
Angola

Zambia
1x
Year Consumer prices inflation
Angola Zambia
2025 20.2% 13.9%
2024 28.2% 15%
2023 13.6% 10.9%
2022 21.4% 11%
2021 25.8% 22%
2020 22.3% 15.7%
2019 17.1% 9.2%
2018 19.6% 7.5%
2017 29.8% 6.6%
2016 30.7% 17.9%
2015 9.2% 10.1%
2014 7.3% 7.8%
2013 8.8% 7%
2012 10.3% 6.6%
2011 13.5% 8.7%
2010 14.5% 8.5%
2009 13.7% 13.4%
2008 12.5% 12.4%
2007 12.2% 10.7%
2006 13.3% 9%
2005 23% 18.3%
2004 43.5% 18%
2003 98.2% 21.4%
2002 108.9% 22.2%
2001 152.6% 21.4%
2000 325% 24.1%
1999 248.2% 23.9%
1998 107.4% 22.7%
1997 221.5% 21.4%

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

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

Over the past 29 years, Angola has recorded an average annual inflation rate of 57.7%, compared with 14.4% in Zambia. In 2025, inflation was 20.2% in Angola and 13.9% in Zambia.

Top exports between countries

Angola
Export category Export value
Machinery & equipment $3.1M
Processed food, beverages & tobacco $402K
Textiles & consumer goods $37K
Metals $34K
Raw agricultural goods $28K
Wood & paper products $25K
Chemicals & pharma $12K
Animal & marine products $7K
Raw materials & minerals $4K
Precious metals & jewellery $1K
Zambia
Export category Export value
Weapons & explosives $2.1M
Raw agricultural goods $1.62M
Machinery & equipment $769K
Animal & marine products $652K
Processed food, beverages & tobacco $206K
Textiles & consumer goods $189K
Chemicals & pharma $188K
Metals $107K
Raw materials & minerals $105K
Wood & paper products $37K

Balance of trade

Angola Zambia
Current account balance
$536M
2025
-$1.12B
2024
Current account balance ranking
57/190
2025
121/190
2024
Current account balance, % of GDP
+0.44%
2025
-4.41%
2024
Goods imports
$15.5B
2025
$10.1B
2024
Goods exports
$30.6B
2025
$11.4B
2024
Service imports
$8.51B
2025
$1.99B
2024
Service exports
$118M
2025
$1.38B
2024
Imports of goods and services, % of GDP
11.7%
2025
27.6%
2024
Exports of goods and services, % of GDP
23%
2025
35%
2024

Economic freedom indices

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

Angola Zambia
Economic freedom 54.4 51.9
Economic freedom ranking 133/197 152/197
Property rights 36.9 43.9
Government integrity 28.3 39.3
Judicial effectiveness 26.3 45
Tax burden 86.9 74.3
Government spending 89.3 78.1
Fiscal health 91.9 30.9
Business freedom 42.8 53.4
Labor freedom 50.8 48.8
Monetary freedom 59 66.6
Trade freedom 70.4 62.8
Investment freedom 30 40
Financial freedom 40 40

Economic freedom comparison by year

Angola
Zambia
1x
Year Economic freedom index
Angola Zambia
2026 54.4 51.9
2025 55 50.9
2024 54.3 48.4
2023 53 47.8
2022 52.6 48.7
2021 54.2 50.4
2020 52.2 53.5
2019 50.6 53.6
2018 48.6 54.3
2017 48.5 55.8
2016 48.9 58.8
2015 47.9 58.7
2014 47.7 60.4
2013 47.3 58.7
2012 46.7 58.3
2011 46.2 59.7
2010 48.4 58
2009 47 56.6
2008 46.9 56.2
2007 44.7 56.2
2006 43.5 56.8
2005 - 55
2004 - 54.9
2003 - 55.3
2002 - 59.6
2001 - 59.5
2000 24.3 62.8
1999 23.7 64.2
1998 24.9 62.7
1997 24.2 62.1
1996 24.4 59.6
1995 27.4 55.1

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

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

The Economic Freedom Index for Angola is 54.4, ranking 133/197, compared to 51.9 for Zambia, ranking 152/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Angola Zambia
Services, % of GDP
46.8%
2025
57%
2025
Industry, % of GDP
27.1%
2025
35.3%
2025
Agriculture, forestry, and fishing, % of GDP
25.2%
2025
4.11%
2025
GNI, Atlas method
$112B
2025
$26.2B
2025
GNI per capita, PPP
$9,840
2025
$3,990
2025
Total reserves including gold
$13.5B
2025
$4.09B
2024
Total reserves ranking
75/177
2025
111/177
2024
Net foreign direct investment
-$1.02B
2025
-$2.05B
2024
Net inflows of foreign direct investment
-$1.11B
2024
$2.36B
2024
Net outflows of foreign direct investment
$33.1M
2024
$311M
2024
Servicing debt to the IMF, % of GNI
11.3%
2024
17.3%
2024
Poverty at national poverty lines
36.6%
2020
60%
2022
Gross capital formation, % of GDP
10.6%
2024
23.8%
2024

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/zambia | 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 (1996–2025, 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 (2020–2025, 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.