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Angola ECONOMY
Gross Domestic Product (GDP): Approximately
US$4.7
billion in 1987; US$600 per capita.
Extractive Industries: Oil most important sector
of
economy. Contributed 30 percent of GDP in 1985.
Concentrated in
areas offshore of Cabinda Province. Diamond mining in
northeast
disrupted by fighting.
Agriculture: In steep decline as result of
insurgency.
Contributed only 9 percent of GDP in 1985. Coffee
principal export
crop.
Manufacturing: Stagnant in late 1980s because of
insurgency and lack of spare parts. Contributed 16 percent
of GDP
in 1985. Main industries food processing, construction,
and
textiles.
Exports: Oil revenue nearly 90 percent of total
export
earnings in 1988.
Imports: Foodstuffs, military equipment, and
inputs to
petroleum industry most important imports.
Currency: In December 1988, official rate of
kwanza was
Kz29.3 to US$1, but United States dollar traded on
parallel market
at up to Kz2,100.
Fiscal Year: Calendar year.
Data as of February 1989
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