Brazilian exports to Angola rise 60 pct in 2006

5 September 2007

Luanda, Angola, 5 Sept – Angola’s imports from Brazil rose by 60 percent in 2006 having reached US$836 million against US$520 million the previous year, the Angolan finance minister, José Pedro de Morais, said Tuesday in Luanda.

In the opening session of a seminar on Brazil/Angola trade relations, Morais said that trade between the two countries had risen by 14 percent in the first five months of 2007, as compared with the same period of 2006.

The basis for growth of trade, the minister said, was the financial assistance provided through Program for Financing Exports (Proex) of Brazilian bank Banco Nacional de Desenvolvimento Económico.

In 2005, financing totalled some US$475 million, and in the following year was increased to US$750 million.

“The participation of Brazilian products in Angola’s imports has been increasing. In 2003, Brazilian exports accounted for 4.3 percent of total Angolan imports, in 2004 and 2005 this rose to 6 percent and in 2006 the propotion rose to 7 percent,” he said.

The products imported by Angola included machinery, household electrical goods, parts for vehicles, tractors and telecommunications equipment, gasoline and products for the oil industry.

Brazil’s ambassador to Angola, Marcelo Vasconcelos, said that Angola was the fourth-largest African importer of Brazilian products in 2006, after South Africa, Nigeria and Egypt.

In 2006, Angola’s exports to Brazil, mainly oil, totalled US$460 million, according to the diplomat. (macauhub)