Editing Luanda (section)

==Economy==
{{See also|Economy of Angola}}
[[File:Cidade Financeira de Luanda 2.jpg|thumb|left|''Cidade Financeira de Luanda'']]
[[File:Marginal Avenida 4 de Fevreiro Luanda March 2013 03 (cropped).JPG|thumb|right|High rises in downtown Luanda]]
Around one-third of Angolans live in Luanda, 53% of whom live in poverty. Living conditions in Luanda are poor for most of the people, with essential services such as safe drinking water and electricity still in short supply, and severe shortcomings in traffic conditions.<ref>[http://www.dfid.gov.uk/Media-Room/Case-Studies/2009/Keeping-the-flow-in-Angolas-slums/ Keeping the flow in Angola's slums] {{webarchive|url=https://web.archive.org/web/20090715122124/http://www.dfid.gov.uk/Media-Room/Case-Studies/2009/Keeping-the-flow-in-Angolas-slums/ |date=2009-07-15 }}, [[Department for International Development]] (DFID), United Kingdom (February 13, 2009)</ref>

Luanda is one of the world's [[List of most expensive cities for expatriate employees|most expensive]] cities for resident foreigners.<ref>{{cite web |url=http://www.mercer.com/newsroom/cost-of-living-survey.html |title=Worldwide Cost of Living survey 2015 - City rankings |publisher=www.mercer.com |access-date=2015-06-17 |url-status=live |archive-url=https://web.archive.org/web/20150619201330/http://www.mercer.com/newsroom/cost-of-living-survey.html |archive-date=2015-06-19 }}</ref> In Mercer’s cost of living index, Luanda was ranked as top of the list due to the extremely high costs of goods and security. Luanda sits above [[Seoul]], [[Geneva]] and [[Shanghai]] in the rankings. These costs have fueled rampant inequality in the city. Skyscrapers are left barren as the price of oil drops.<ref>{{Cite news |last=Mayda |first=Matteo de |date=2017-07-07 |title=Divided Luanda: life inside a city fueled by inequality – in pictures |language=en-GB |work=The Guardian |url=https://www.theguardian.com/cities/gallery/2017/jul/07/luanda-angola-expensive-city-divided-oil-in-pictures |access-date=2022-09-26 |issn=0261-3077}}</ref>
[[File:Marginal Promenade in Luanda - Angola 2015.jpg|thumb|right|''Marginal'' promenade along the bay]]
[[File:Rua Kwame Nkrumah Luanda 05.JPG|thumb|left|Tower on ''Rua Kwame Nkrumah'']]
New import tariffs imposed in March 2014 made Luanda even more expensive. As an example, a half-litre tub of vanilla ice cream at the supermarket was reported to cost US$31. The higher import tariffs applied to hundreds of items, from garlic to cars. The stated aim was to try to diversify the heavily oil-dependent economy and nurture farming and industry, sectors that have remained weak. These tariffs have caused much hardship in a country where the average salary was US$260 per month in 2010, the latest year for which data was available. However, the average salary in the booming oil industry was over 20 times higher at US$5,400 per month.<ref name="www.independent.co.uk">{{cite news|url=https://www.independent.co.uk/news/world/africa/angolas-new-import-tariffs-putting-the-squeeze-on-the-poorest-residents-in-one-of-the-worlds-most-expensive-cities-9278530.html|title=Angola's new import tariffs putting the squeeze on the poorest residents in one of the world's most expensive cities|newspaper=The Independent|date=2014-04-23|access-date=2014-05-02|url-status=dead|archive-url=https://web.archive.org/web/20140427052726/http://www.independent.co.uk/news/world/africa/angolas-new-import-tariffs-putting-the-squeeze-on-the-poorest-residents-in-one-of-the-worlds-most-expensive-cities-9278530.html|archive-date=2014-04-27}}</ref>

Manufacturing includes [[convenience food|processed foods]], [[drink|beverages]], [[textile]]s, [[cement]] and other building materials, [[plastic]] products, metalware, [[cigarette]]s, and shoes/clothes. [[Petroleum]] (found in nearby off-shore deposits) is refined in the city, although this facility was repeatedly damaged during the [[Angolan Civil War]] of 1975–2002. Luanda has an excellent natural harbour; the chief exports are [[coffee]], [[cotton]], [[sugar]], [[diamond]]s, [[iron]], and [[salt]].{{citation needed|date=October 2022}}

The city also has a thriving building industry, an effect of the nationwide economic boom experienced since 2002, when political stability returned with the end of the civil war. Economic growth is largely supported by [[oil extraction]] activities, although great [[economic diversification|diversification]] is taking place. Large [[investment (macroeconomics)|investment]] (domestic and international), along with strong economic growth, has dramatically increased construction of all economic sectors in the city of Luanda.<ref name="economist.com">{{cite news |url=http://www.economist.com/displaystory.cfm?story_id=10316212 |title=GDP growth: A look ahead |magazine=The Economist |date=2007-12-19 |access-date=2010-06-28 |url-status=live |archive-url=https://web.archive.org/web/20100125213302/http://www.economist.com/displaystory.cfm?story_id=10316212 |archive-date=2010-01-25 }}</ref> In 2007, the first modern shopping mall in Angola was established in the city at [[Belas Shopping]] mall.<ref name="angonot">{{cite web|url=http://www.angonoticias.com/Artigos/item/12911|title=Belas shopping inaugurado em Luanda|publisher=Angonoticias.com|date=28 March 2007|access-date=2015-05-26|language=pt|url-status=live|archive-url=https://web.archive.org/web/20150527002246/http://www.angonoticias.com/Artigos/item/12911|archive-date=27 May 2015}}</ref>