Angola posts trade surplus with United States in first half

10 September 2012

Angola’s balance of trade with the United States of America provided a surplus of US$5.213 billion in the first half of the year, mainly due to oil sales, according to figures from the US Department of Trade.

In the period, Angola sold goods to the US worth US$6 billion, 98.5 percent of which was oil, and bought goods worth just US$787 million, according to the same figures cited by Angolan news agency Angop.

In 2011, Angola sold goods worth US$13.6 billion to the US, of which US$13.4 billion or 98.5 percent of the total was oil.

Diamond imports totalled US$169 million, and the two products accounted for 99.7 percent of total US imports from Angola.

The focus on these two mining products in Angola’s exports to the US shows that Angola does not take advantage of the African Growth Opportunity Act (AGOA), under the terms of which African countries have free access to the world’s largest economy. (macauhub)