Tuesday, November 5, 2024

Angola enjoys positive trade balance in first quarter of the year

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This result was influenced by the positive behaviour of oil prices, the main export product.

According to the information, from the beginning of January to the end of March, there was an increase in the total value of exports by 68 percent compared to the same period of the previous year, although imports also grew by 34.2 percent.

Angolan products mainly reached China (45 percent of the total), India (14.6), Spain (7.8), Indonesia (6.7) and the United Arab Emirates (4%), among which fuel and minerals accounted for 93.8 percent; and pearls, precious stones, metals and jewellery accounted for 4.6 percent.

Imports to Angolan territory came mainly from China (14.5 percent), Belgium (10.0 percent), Portugal (9.6 percent), South Korea (7.1 percent) and the United States (6.5 percent).

Among African partners, South Africa tops the list as an export destination and a purchasing market.

Togo, Democratic Republic of the Congo, Republic of the Congo and Namibia continue to be on overseas sales.

The main items imported by Angola are machinery and equipment (24.9 percent), followed by fuels and minerals (21.6 percent), food products (11.5 percent), common metals (9.9 percent), and chemical products (6.6 percent).

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