Angola nets US$48.6 billion from oil sales in 2010

31 May 2011

Luanda, Angola, 31 May – Angola’s oil exports in 2010 netted the country US$48.630 billion, a rise of 24 percent compared to the figure of US$39.271 billion posted in 2009, according to figures published Monday on the National Bank of Angola (BNA) website.

China, which in 2007 overtook the United States to become the main destination for Angolan oil, in 2010 acquired oil worth US$20.82 billion, thus increasing its lead as the figure is almost three time the US$8.809 billion imported by the United States in the same period.

In 2009 China bought oil from Angola worth US$15.110 billion and the United States bought practically half that at US$7.471 billion.

According to estimates for 2010 published by the central bank in third place, far behind both China and the US, was India with oil acquisitions totalling US$4.912 billion.

Fourth and fifth place were taken up by Canada (US$2.829 billion) and Taiwan (US$2.316 billion). (macauhub)