Trade between Angola and the United States totals US$15 billion in 2012

19 March 2013

Trade between Angola and the United States in 2012 totalled US$15 billion, which was a rise of 15 percent against the US$13 billion figure for the previous year, said the US ambassador to Angola, Christopher J. McMullen in Luanda.

In the period, two-way trade was significantly in Angola’s favour as it sold mainly oil and diamonds to the US, in the value of US$13 billion and imported goods worth just US$2 billion, specifically foodstuffs, equipment for the oil sector and miscellaneous machinery.

At a meeting of the First Friday Club, a meeting of businesspeople held on the first Friday of each month organised by the USA-Angola Chamber of Commerce (USACC), the ambassador said that although Angola had already signed the African Growth and Opportunity Act (AGOA) it currently only exported oil and diamonds to the US.

AGOA provides sub-Saharan African countries that have no free trade agreement with the USA, such as Angola, with free access to the world’s largest economy.

“There is a great trade imbalance, which is natural and there is an identical situation with Venezuela, which is a country that exports a lot of oil to the United States,” the ambassador said according to Angolan news agency Angop. (macauhub)