Angolan Kwanza - AOA

Overview

The Angolan Kwanza (AOA) is the currency currently used in Angola. The Kwanza was introduced in 1999, replacing the "Kwanza Reajustado" (AOK).  AOA is subdivided into coin denominations of 100 centimos, and is denoted by the symbol Kz.

Economy

• Angola is rated as one of the fastest-growing economies in the world.
• The Angolan GDP in 2010 had an average growth of 11.1%.
• The country’s main resources are gas, oil, agriculture, and diamonds.
• There is mismanagement and corruption in the oil industry, which prevents the economy from growing at a faster rate.
• Angola imports vehicles, food, medicine, electrical equipment, machinery, and military goods.
• Export goods are mainly petroleum, crude oil, fish, coffee, diamonds, cotton, and timber.
• The current inflation rate is 13.1%.
• A third of Angola’s population is reliant on agriculture. Although the country is showing substantial growth, it still has a great deal of poverty, due to the civil war that waged from the 1975 to 2002.

History

General Information