Angolan per capita income rises by over 500 pct between 2000 and 2013

9 January 2014

Per capita income in Angola rose by 527 percent between 2000 and 2013, from US$620 to almost US$3,900 in 2013, which was the fastest rate of growth in Africa in the period, according to a report published in London.

According to the report from UK consultancy New World Wealth (NWW), to which Portuguese news agency Lusa had access, Angolans saw the greatest increase in their individual (per capita) wealth, but were ranked ninth when figures for 2013 alone were analysed.

The rapid increase in the individual wealth of Angolans also has a direct effect on the country’s Gross Domestic Product (GDP), and NWW noted that between 2000 and 2012 Angola posted the greatest growth in Africa (737 percent), rising from per capita GDP of US$656 to US$5,485 – these figures are different to individual wealth as they include income for the entire economy, and not only for each citizen on an individual basis.

The report also said that Angola, which with the wealth of individuals totalling US$76.2 billion, is ranked seventh on the list of Africa’s 20 richest countries: South Africa is in first place, with US$571 billion, followed by Egypt, with US$367 billion and Nigeria, Africa’s largest oil producer, with US$227.5 billion. (macauhub)