Oil accounts for Angola’s balance of trade surplus in first quarter

7 September 2010

Luanda, Angola, 7 Sept – Angola posted a balance of trade surplus in the first quarter of the year of US$9.4 billion, above all due to oil exports, the acting director-general of the National Statistics Institute (INE) said Monday.

Speaking to state radio station Rádio Nacional de Angola Lukoki Artur said that in the period exports totalled US$12.8 billion and imports totalled US$2.7 billion.

The acting director-general of INE noted that Angola’s balance of trade was always a surplus due to oil exports, the country’s main export product, almost half of which is sent to China.

Artur said that China headed the list of buyers in the period, with 47 percent of the total value of exports, followed by the United States, with 18 percent, India with 8 percent, Canada with 6 percent and Taiwan with 3 percent, with the remaining countries being of little significance.

In terms of imports, Artur noted that Portugal was at the top of the list, accounting for 17 percent of total imports, followed by China with 10 percent, the United States with 10 percent, Belgium with 6 percent and Brazil also with 6 percent. (macauhub)