Angola increases exports to Portugal and reduces trade deficit

17 October 2013

Angola’s exports to Portugal totalled 237 billion kwanzas (1.3 billion euros) in the first seven months of 2013, which was year-on-year rise of 86 percent, according to figures from the Portuguese investment promotion agency, AICEP.

Cited by Portuguese news agency Lusa, the AICEP figures showed that in teh same period Portugal sold goods to Angola worth 316 billion kwanzas (1.73 billion euros) compared to 302.7 billion kwanzas in the same period of 2012.

The result of this two-way trade continued to be a surplus for Portugal, but was a contraction of 54 percent compared to the first seven months of last year.

Figures from AICEP showed that Portugal’s surplus fell from 171 billion kwanzas (1.29 billion euros) in the period from January to July 2012 to 82.4 billion kwanzas (620 million euros) in the first seven months of this year. (macauhub)

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