Angola-Brazil trade grows 150 percent in 2006

19 January 2007

Sao Paulo, Brazil, 19 Jan – Trade between Brazil and Angola during 2006 increased in value by 150 percent to US$ 1.3 billion, with Angolan oil being largely responsible for this growth, according to figures from the Brazilian Ministry of Development, Industry and Foreign Trade.

In 2005, Angola’s exports to Brazil were limited to aluminum and worth just US$ 120,000. Brazil began to import oil from Angola last year, purchasing crude worth US$ 464.3 million.

Brazil’s total imports from the African state were US$ 464.4 million in 2006, nearly four times more than in the previous year.

Export sales from Brazil to Angola in 2006 rose by 61 percent to a value of US$ 838 million compared to the US$ 520 million officially registered by Brazil in 2005.

Despite Brazil’s oil imports from Angola, the Latin American country recorded a trade surplus of US$ 371.6 million last year over its African commercial partner.

Brazil’s exports to Angola in 2006 were mainly driven by sales of vehicles, sugar and electrical components, with vehicles the largest single item and worth US$ 126 million, more than 64 percent than the previous year.

Angola spent some US$ 95 million in 2006 on Brazilian sugar, some 59 percent more than the previous year.

Sales of electrical components from Brazil to Angola showed an even higher growth of 182 percent. (macauhub)