Ver Angola


Portugal with favorable trade balance in exchanges with Angola

Portugal has a positive trade balance in exchanges with Angola, with a coverage coefficient of 228 percent in 2022, according to data from the National Institute of Statistics (INE), cited by the Investment and External Trade Agency of Portugal (AICEP).


According to the same data, Portuguese exports reached 1512 million euros in 2018, 1238 million euros in 2019, 870 and 951 million euros in 2020 and 2021 - years of the covid-19 pandemic - and 1423 million euros last year.

Imports from Angola ranged from a maximum of 1,075 million euros in 2019 to 623 million in 2022 - the year in which the coefficient of coverage of exports by imports, on the Portuguese side, was around 228 percent.

Last year, the main products exported to Angola were medicines (4.07 percent of the total), soy oil, wines and fresh grapes, medical instruments and equipment, machinery, building materials, automatic data processing machines, sausages and similar products, wires and cables, and centrifuges.

Compared to 2021, the biggest increases (above 100 percent) in terms of export sectors were recorded in machinery and equipment, olive oil and special use motor vehicles (self-help vehicles or crane trucks).

Among the largest Portuguese companies exporting to the Angolan market are Sovena, Sicasal, Mota Engil, Omatapalo Engenharia e Construção, Collison (Zona Franca da Madeira), Onis Group Construção e Engenharia, and Quinta de Jugais - Comércio of Food Products.

On the import side, the top place is oil and bituminous minerals which reached more than 593 million euros last year, representing 67.42 percent of the total. After oil, crustaceans, chilled and frozen products, bananas, and the group of granite, basalt, sandstone (sandstone) and other masonry or building stones follow on the list of imports.

“Relations are very good, they have never been as good as they are now, we need to increase Portuguese investment in Angola and wherever possible”, said President João Lourenço, in an interview released on Thursday and Friday.

According to the Portuguese government, national companies are present in almost all sectors of the economy in Angola, with emphasis on agriculture, manufacturing industry, information technology and telecommunications, energy, water, sanitation and pharmaceuticals. It is estimated that there will be more than 1250 companies with Portuguese capital, or mixed capital, in the Angolan market.

Angola is the eighth largest economy in Africa and one of the largest oil producers on the continent, say

The Lisbon executive also points out that Angola is one of Portugal's main trading partners, namely as a destination for exports of goods and services, maintaining the ninth position as a customer of Portuguese goods, and the fifteenth as a supplier.


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