Angola’s foreign trade returns to growth in 2nd quarter

23 September 2015

Angola’s balance of trade recorded a surplus of 735.5 billion kwanzas (US$5.41 billion) in the second quarter, an increase of 209.8 percent against the previous quarter, but a drop of 29.3 percent year on year, said in Luanda the National Statistics Institute.

In the three months from April to June, Angola exported goods – mainly oil and diamonds – worth 1.1 trillion kwanzas (26.4 percent against the previous quarter chain but 29 percent less year on year) and imported goods worth 374.5 billion kwanzas (-41.6 percent against the previous quarter and -28.5 percent year on year).

The rate of coverage of imports by exports rose from 137 percent in the first quarter to 296.4 percent in the second, as a result of increased exports and decreased imports.

In the second quarter Portugal resumed the lead as the main supplier of goods to Angola, with 67.2 billion kwanzas, relegating China to second place, with 575 billion kwanzas, which in the first quarter had overtaken Portugal’s sales to Angola by over 37 billion kwanzas, with a total of 107.6 billion.

With regard to imports of products from Angola China has the stand out lead, with purchases in the quarter of 491.6 billion kwanzas, four times more than purchases by the country that came in second place, India with 112.8 billion kwanzas.

On the list of buyers of Angolan products Portugal came in seventh place with 43.7 billion kwanzas. (macauhub/AO/CN/PT)