Portuguese exports of goods to Angola rise 52.8 percent and imports more than 500 percent until June

According to data sent by the Agency for Investment and Foreign Trade of Portugal (AICEP), based on information from INE, Portuguese exports of goods to Angola increased to 638.7 million euros between January and June this year, a increase of 52.8 percent compared to the 417.9 million euros recorded between January and June 2021.

Imports of goods soared 548 percent, reaching 432.7 million euros between January and June, well above the 66.8 million euros in the same period last year.

Thus, the balance of trade in goods between Portugal and Angola amounted to 205.9 million euros in the first six months of the year, which compares with the 351.1 million euros registered in the same period last year.

Between January and June, Angola remained the 9th customer for exports of Portuguese goods, with a share of 1.64 percent, and the 18th supplier to Portugal, with a share of 0.18 percent.

The data provided by AICEP also reveal that, during the reference period, Angola contributed by 0.71 percentage points (pp) to the growth of Portugal's global exports.

Leading Portuguese exports to Angola are machinery and equipment, with an increase of 40.5 percent year-on-year to 183.3 million euros and representing 28.7 percent of products exported to this country.

This is followed by chemicals (72.9 million euros), agricultural products (71 million euros), base metals (59 million euros) and food products (57 million euros).

Among the biggest increases compared to the same period of the previous year, fur and leather stand out, with a growth of 166 percent, to 2.3 million euros, although representing only 0.4 percent of Portuguese goods exported to Angola until June, and for footwear, with an increase of 134 percent to four million euros, representing 0.6 percent of the total.

From Angola, Portugal imported 418.9 million euros in mineral fuels, an increase of 670 percent compared to the same period last year, representing 96.8 percent of total imports from this country, above the 81.4 percent that this group of products represented in the first half of last year.