Ver Angola

Trade

The country's trade balance recorded a positive balance of 4.11 billion kwanzas in the last quarter of 2021

The country's trade balance recorded a positive balance of 4.11 billion kwanzas in the fourth quarter of 2021, mainly due to the increase in the price of oil, the main export product, according to official data.

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According to foreign trade statistics for the fourth quarter of 2021, made available by the National Statistics Institute (INE), and which Lusa had access to this Wednesday, Angolan exports, in that period, recorded an overall increase of 57,7 percent, compared to the same period last year, with Asia, Europe and North America as the main continents for the country's exports.

The Asian continent absorbed the largest volume of Angolan exports in the last three months of 2021 with 77,1 percent, followed by the European continent with 13,1 percent, North America with 3,9 percent and the African continent with 2,6 percent of the total amount.

China, Angola's biggest creditor, was the main destination for exports with 57,4 percent, followed by India with 9,3 percent, Spain with 5,2 percent, the United Arab Emirates with 4,5 percent and Thailand with 3,2 percent.

According to the INE Quick Information Sheet, during the period under analysis, the main African partners of Angolan exports were South Africa (54,9 percent), Democratic Republic of Congo (28,3 percent), Namibia (4,6 percent), Morocco (3,9 percent) and Congo (2,4 percent).

Angola exported mostly fuel in that period, with 95 percent, followed by other products "including diamonds" with 3,9 percent and "minerals and miners", "common metals" and machinery, equipment and appliances each with 0,2 percent in relation to the overall value.

According to the same source, the main categories of exports during the period under analysis were fuel (94,8 percent), consumer goods (4,2 percent), intermediate goods (0,8 percent) and capital (0,2 percent).

INE notes that Angolan imports recorded an increase of 8,4 percent in the fourth quarter of 2021 with Europe (39,9 percent), Asia (38,7 percent), Africa (10,0 percent) and North America as the main continents.

Portugal was Angola's second largest supplier in that period, with 12,4 percent, after China with 15,2 percent, the Netherlands, India and the United States of America also fill the top with 8,7 percent, 6,2 percent and 5,4 percent respectively.

Machinery, equipment and appliances, fuels, agricultural products, chemicals and vehicles and other means of transport were the main groups of products imported by Angola in October, November and December 2021.

As for economic categories of goods, consumer goods lead imports, with 34,3 percent, followed by intermediate goods with 28,5 percent, capital goods with 19,0 percent and fuels with 18,2 percent in relation to the total value.

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