Angolan imports drop by 10% from January to October 2019

12 December 2019

The value of imports by Angola in the period from January to October 2019 fell by 10% to US$1.339 billion, the deputy governor of the National Bank of Angola, Tiago Dias said on Wednesday in Luanda.

This drop, Dias said at a press conference on financing the economy promoted by the Ministry of Economy and Planning, was due to measures put in place by the government to increase the national production of goods.

Dias, quoted by the Angolan press, also said that food imports fell by 21.7% by value, compared with the same period of 2018.

“If such measures had not been adopted, Angola would have a deterioration in its balance of trade with the outside world, taking into consideration that the revenue from exports presented in the same period of time fell by 19.4”, he said.

Of the US$1.339 billion spent on importing products US$205 million were used for rice, US$204 million on chicken meat, US$186 million on palm oil, US$137 million on sugar and US$124 million on wheat flour, among others. (macauhub)