Portugal’s exports to Angola fall 26.4 pct in January

27 March 2015

Portugal’s exports to Angola in January of this year decreased by 26.4 percent year on year and 32.9 percent against the previous month, according to the National Statistics Institute (INE) of Portugal cited by Angolan state newspaper Jornal de Angola.

In January 2014 sales to Angola totalled 241 million euros (26.028 billion kwanza) and in the first month of 2015 totalled 177 million euros (19.116 billion kwanza).

The newspaper reported that the decline was due to the low price of oil on international markets, which affects the Angolan economy and forced the government to raw up an amending budget with significant cuts to both revenues and expenditure.

The decline of 32.9 percent (87 million euros less in a single month) is the worst in the last decade in both percentage and absolute terms.

Angola was so far Portugal’s fourth largest export destination worldwide and the largest outside Europe, but in January was overtaken by the United Kingdom, which was responsible for purchasing goods worth 245 million euros.

The Angolan newspaper pointed out that the export of Portuguese beer to Angola was expected to be one of the sectors most affected by the measures taken by Angola to boost production and reduce dependence on imports. (macauhub/AO/PT)

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