Angolan Kwanza

Overview

Economy

• Angola is a member of AU, SADC, OPEC, CPLP, ECCAS.
• Main industries include: Oil, Diamonds, Iron ore, Phosphates, Feldspar, Bauxite, Uranium, Gold.
• Angola is part of the World Trade Organization.
• Imports are machinery, electrical equipment, vehicles, medicines, food, textiles.
• Major exports include crude oil, diamonds, refined petroleum products, coffee, sisal, fish, timber.
• GDP: $124.2 billion (2023 est.).
• GDP per capita: $3,552 (2023 est.).
• Unemployment rate: 32.0% (2023 est.).
• Inflation rate: 13.7% (2023 est.).
• Main trading partners: China, India, Portugal, Spain, France, Brazil.
• Trade agreements: SADC Trade Protocol, EU Economic Partnership Agreement, Various bilateral agreements.

History

• Previous currencies used: Portuguese escudo, Angolan escudo, First kwanza, New kwanza, Readjusted kwanza.
• The current kwanza was introduced in 1999, replacing the readjusted kwanza. Angola has had multiple currency reforms due to hyperinflation and economic instability.
• 1977: First kwanza introduced after independence
• 1990: New kwanza introduced (1000:1 redenomination)
• 1995: Readjusted kwanza introduced
• 1999: Second kwanza (current) introduced
• 2018: Currency reform and liberalization measures
• Exchange rate peg: Managed float with periodic interventions.

General Information

• ISO 4217 Code: AOA
• Symbols: AOA/Kz
• Currency Subunits: 100 lwei
• Central Bank: National Bank of Angola
• Monetary Policy: Managed floating exchange rate regime. Focus on controlling inflation and maintaining financial stability while supporting economic diversification.
• Bills: 10 kwanza, 50 kwanza, 100 kwanza, 200 kwanza, 500 kwanza, 1000 kwanza, 2000 kwanza, 5000 kwanza
• Coins: 1 kwanza, 2 kwanza, 5 kwanza, 10 kwanza, 20 kwanza, 50 kwanza
• USD Exchange Rate: Variable (approximately 825-850 AOA per USD)
• Pegged To: None (Floating)
• Capital: Luanda
• Population: 35,027,343 (2023 est.)
• Area: 1,246,700 km²
• Languages: Portuguese (official), Umbundu, Kikongo, Kimbundu, Chokwe
• Time Zones: UTC+1 (West Africa Time)
• Government Type: Presidential republic
• Head of Government: President (head of state and government)
• Independence: November 11, 1975 (from Portugal)
• Ethnic Groups: Ovimbundu 37%, Kimbundu 25%, Bakongo 13%, Mestico 2%, European 1%, Other 22%
• Religions: Roman Catholic 41.1%, Protestant 38.1%, Other Christian 8.6%, Traditional 6.2%, Other 0.4%, None 5.6%
• Literacy Rate: 71.1% (2018 est.)
• Transport: Luanda International Airport, Atlantic ports, road network reconstruction, limited rail system
• Communications: Expanding telecommunications, 26% internet penetration, growing mobile coverage
• Energy: Oil and gas dominant, hydroelectric potential, developing renewable energy sector
• Countries Using This Currency: Angola
• Data Sources: Central Bank: National Bank of Angola (bna.ao), Economic Data: Angola National Institute of Statistics, World Bank, IMF, Trade Data: Angola Customs Service, Demographic Data: Angola National Institute of Statistics, Geographic Data: Angola Geographic Institute, Historical Data: National Bank of Angola archives
• Last Updated: 2025