Angola makes Portuguese exports rise

21 May 2012

Angola was the country that most contributed to Portuguese export growth in 2011 and should continue to gain importance this year in Portuguese sales abroad, indicate Banco de Portugal figures released last week.

The central bank’s annual report shows that Angola was the country that most contributed to the growth of Portuguese exports last year, well ahead of France and Germany.

Angola has become the fourth largest external market for Portugal’s economy and its biggest partner outside the European Union, accounting for 5.5 percent of total exterior sales.

After falling 14.6 percent in 2010 due to effects of the 2009 crisis in Angola, Portuguese exports to the Angolan market rose 22 percent in 2011, above the average total (15.2 percent). Among the products most sold are beverages, tobacco, food, machinery and transport material.

This year Angola’s share in Portuguese exports should continue rising. Sales to that country had risen 28.9 percent through February, from 304 to 392 million euros in nominal terms, nearly three times more than the pace of total export growth during the period (13.3 percent).

Portugal continues to be a major supplier of Angola’s imports, with its share rising from 12 percent in 2006 to 17 percent in 2011, according to figures from the Banco Nacional de Angola. Brazil is the second biggest supplier, currently accounting for 8 percent of the total. (macauhub)