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Angola - Quarterly Economic Review - N° 1 November 2012
Angola is emerging from more than 27 years of war to become Africa’s second largest oil exporter and its third largest economy. Since 2003, the country began to rebuild its infrastructure, the oil and non-oil sectors grew substantially, and per capita gross domestic product (GDP) reached middle-income levels. Despite this progress, the economy remains highly vulnerable to oil revenue volatility and there are still several constraints to private sector development as evidenced by the low standing (172 out of 185 countries) in the World Bank’s 2013 Doing Business Report.