Portuguese investment in Portuguese-speaking Africa falls in 2006

23 February 2007

Lisbon, Portugal, 23 Feb – Portuguese investment in Portuguese-speaking African countries fell 29 percent year on year in 2006 and recovered sharply in Brazil, according to figures from the Bank of Portugal published Thursday in Lisbon.

In Portuguese-speaking Africa – Angola, Mozambique, Sao Tome and Principe, Guinea Bissau and Cape Verde – investment totaled 124.4 million euros and was the only one of the main economic areas for Portugal that saw a fall in investment.

The figure is the result of the difference between the 418.2 million euros of investment by Portugal in Portuguese-speaking Africa last year, minus 293.8 million euros of cash returned to Portugal in the period.

In 2005, investment had risen to 176.4 million euros, or almost six times investment levels in 2004.

In relation to Brazil, the balance of investment was a surplus of 67 million euros as compared to a deficit of 426 million euros in 2005.

In 2004, Portugal invested 291.6 million euros in Brazil, according to bank of Portugal figures.

In total, Portuguese investment abroad in 2006 rose 67 percent to 2.79 billion euros. (macauhub)