Angola posts a trade surplus of US$10 billion in the first half of 2017

17 October 2017

Angola posted a trade surplus of 1.686 trillion kwanzas (US$10 billion) in the first half of 2017, with exports amounting to 2.710 trillion and imports amounting to 1.024 trillion kwanzas, according to the National Statistics Institute (INE).

In the second quarter Angola exported goods, mainly oil, worth 1.339 trillion kwanzas, a year-on-year increase of 8.6% and a decline of 2.3% over the first quarter and imported goods valued at 0.521 trillion kwanzas, a year-on-year drop of 3.4% and an increase of 3.9% over the first quarter.

The rate of import coverage by exports reached 256.7% in the second quarter of the year, compared to 228.2% in the same period of 2016 and 272.9% in the first quarter of 2017.

The main trading partners in the second quarter for exports were China and India, with 0.704 trillion and 0.117 trillion kwanzas, respectively, with Portugal and China accounting for 90.175 billion kwanzas and 81.744 billion kwanzas, respectively.

In the second quarter oil exports accounted for 94% of the total, with 1.263 trillion kwanzas, while the most imported products, worth 0.127 trillion kwanzas, were machinery and equipment. (macauhub)