Trade between Angola and Italy falls 25 pct in 2012

27 February 2013

Trade between Angola and Italy fell 25 percent in 2012 from US$2 billion in 2011 to US$1.5 billion expected by the end of December last year, the economic attaché to the Italian embassy in Angola said.

Lorena Maschietto told Angolan weekly newspaper Expansão that by the end of November 2012 trade between the two countries totalled US$920 million, and that the difference between that and the full-year figure was made up of contracts fulfilled by the end of 2012.

Angola exports oil and ornamental rocks, such as marble and granite, to Italy and the Italians sell machinery, food, refined oil, plastics and iron and steel items for the construction industry, as well as cars and boats.

According to the newspaper, the diplomat said that the Italian government this year plans to increase investments by Italian companies in Angola.

Maschietto also said that business missions would be carried out soon to Italy by Angolan businesspeople and to Angola by Italian businesspeople. (macauhub)