Ver Angola

Trade

Exports under Prodesi exceeded 20 million dollars in the first semester

Exports under the Program of Support for Production, Export Diversification and Import Substitution (Prodesi) totaled $24 million, according to data from the Ministry of Economy and Planning.

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Among the main products exported in the first half of the year were cement, worth $11.8 million, beer, worth $5.2 million, and packaging and glass bottles, which totaled $2.5 million.

The consulting firm NKC African Economics welcomed the growth of these exports, but noted that Angola still has a long way to go to reduce dependence on the oil sector.

"Although the growth of non-oil exports is encouraging, Angola still has a long way to go to reduce its dependence on oil and ensure future economic stability," the consultancy said.

NKC pointed out that in 2020, exports from the sector represented "almost 96 percent of total exports, 54 percent of government revenue and 31 percent of real GDP."

PRODESI has the following financing lines: remaining resources from bilateral credit lines, initially established to meet the Public Investment Program, resources from Foreign Direct Investment, 'private equity' funds from the Angolan Sovereign Fund, other resources from the national and foreign financial market available, such as private 'private equity' funds, financing with the guarantee of generating carbon credits, etc.

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