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Angola

Rich in oil and diamonds and other natural resources, Angola is a sparsely populated country roughly the combined size of Texas and California. The country is rebuilding after the end of a civil war lasting twenty seven years.

Its high growth rate is driven by its oil sector, benefiting from high oil prices coupled with rising production.

Postwar reconstruction and the resettlement of displaced citizens have further boosted income from construction, agriculture, gold and diamond mining, and fishing. Reforms recommended by the IMF and greater transparency serve to encourage foreign investors.

Country Profile

The Republic of Angola is slightly larger than South Africa and the combined size of Texas and California. The climate varies from tropical in the north to subtropical in the south.

Major rivers are the Kunene, Zambezi and the Kwanza (after which the country’s currency was named). The Bantu-speaking Ovimbundu, Kimbundu and Bakongo peoples are in the majority.

Fifty-three percent are Christians (mostly Roman Catholic). The rest adhere to indigenous beliefs.

Business Activity

Agriculture

Bananas, sugar cane, coffee, sisal, corn, cotton, manioc, tobacco, vegetables, plantains, livestock.

Industries

Petroleum, diamonds, iron ore, phosphates, feldspar, bauxite, uranium, gold, cement, basic metal products, fish processing, food processing, brewing, tobacco products, sugar, textiles.

Natural Resources

Petroleum, diamonds, iron ore, phosphates, copper, feldspar, gold, bauxite, uranium.

Exports

$44.3 billion (2007 est.): crude oil, diamonds, refined petroleum products, gas, timber, cotton, fish products.

Imports

$12.3 billion (2007 est.): machinery and electrical equipment, vehicles and spare parts, medicines, food, textiles, military supplies.

Major Trading Partners

US, China, Portugal, France, South Africa, South Korea, Chile, Brazil.

Source: Les de Villiens, Africa 2009, Ninth Edition (A publication of The Corporate Council on Africa and Business Books International)

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