Trade between Angola and Brazil falls sharply in 2009

26 April 2010

Luanda, Angola, 26 April – Trade between Angola and saw a sharp fall in 2009 when compared to the two previous years, Raimundo Lima of the Association of Brazilian Businesspeople in Angola (Aebran) told newspaper O País.

Lima, chairman of the association’s General Meeting, noted that bilateral trade, which from 2007 to 2008 doubled from US$2.1 billion to US$4.2 billion, fell to US$1.47 billion in 2009.

However, although it fell sharply in relation to the two previous years, it was the third highest level of trade ever between Angola and Brazil.

In 2009 the imports of Brazilian products totalled US$1.3 billion, whilst exports of Angolan products to Brazil totalled US$138 million, with a drop of a third in imports and of 90 percent in exports.

Despite this, Lima said, “the figures are significant,” if we take into account that in 2000 bilateral trade totalled US$137 million, with Brazil exporting US$106 million and importing US$31 million.

Lima, who is also chairman of business group Aldeia, said that 2010 would be a year of significant recovery in trade between the two members of the Community of Portuguese-speaking Countries (CPLP), particularly because the Angolan government has already announced it will start paying its debts to construction companies and because the credit line opened by Brazil for Angola has been increased to US$500 million. (macauhub)