Angola’s oil exports fall 9.6 pct in first five months of 2014

18 July 2014

Angola’s oil exports fell by 9.6 percent in the five months from January to May of this year, to 237.4 million barrels, the biggest drop since 2011, according to a report from Portuguese bank BPI, to which Portuguese news agency Lusa had access.

According to the analysis from the BPI studies office, based on figures from the Angolan Finance Ministry, oil exports “totalled 45.5 million barrels in May, posting a drop of 7.2 percent against April and a drop of 11.2 percent against the same month of 2013.”

In the report the BPI economists noted that “in accumulated terms since the beginning of the year, oil exports totalled 237.4 million barrels, falling 9.6 percent against the amount exported in the same period of the previous year.”

In the first four months of the year Angola exported192 million barrels of oil, compared to 211.5 million barrels exported in the same period of last year, a drop of 11.8 percent in the State’s revenues.(macauhub/AO)