Angola’s balance of trade surplus totals US$13 billion in the first half of 2018

19 December 2018

Angola had a balance of trade surplus of US$13 billion in the first half of 2018, 30% more than the balance of US$10 billion registered in the same period of 2017, the National Statistics Institute (INE) reported.

INE’s quarterly report on Foreign Trade Statistics said that the increase in the balance of foreign trade was due to the rise in oil prices.

Oil remains virtually the only product, apart from diamonds, exported by Angola, accounting for 97% of the country’s exports.

In the first six months of the year Angola exported goods worth US$19.3 billion, 18% more than in the first half of 2017, when exports reached US$16.3 billion.

Imports in the first half of 2018 remained practically unchanged in terms of value compared to the same period of last year, reaching US$6.0 billion. (macauhub)