Angola raises US$9 million from timber exports

31 December 2018

Angolan sawn wood exporters deposited US$9.0 million in the country’s commercial banks from September to December, the Ministry of Agriculture and Forestry reported.

The deposit of foreign currency in commercial banks is the result of applying the new regulation for the sector, which requires confirmation of the entry of foreign currency before the beginning of the timber export process.

The US$9 million is the result of the export of 22,341 cubic metres of timber, according to the Minister of Agriculture and Forestry, Marcos Nhunga, quoted by the Angolan news agency.

The minister also said that although in the past revenues from the sale of wood abroad had benefited other countries rather than Angola, and after a phase of unrestrained and excessive exploration of forest resources, the sector is now experiencing a period of stability.

Angola’s eastern and southwestern regions were most affected by over-exploration of forest resources, which threatened the sustainability of forests as a source of raw material.

Regarding the management of forest resources, the Minister recalled, a new forest regulation has been approved and published and six forest products warehouses have been built in the provinces of Bengo, Benguela, Cabinda, Kwando Kubango, Luanda and Moxico.

In 2018, 54,891 cubic metres of logs from natural forest and 34,000 cubic metres of logs from plantations were produced. (macauhub)