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Industry and Trade
OVERVIEW
According to the Angolan authorities, the balance of
trade in 2010 surpluses of US$ 30,54 Bn thanks to
the reduction of the imports and increasing exports.
The current account recovered from the negative
performance of 2009 deeply affected by the oil price
crash in 2008-09 (fall from US$ 6,4 Bn in 2008 to
US$ 3,7 Bn in 2009).
Official statistics from the Angolan Customs show
that imports fell by 12,5% in 2010 to US$ 18,1 Bn,
whilst exports rose 2,1% to reach US$ 52,3 Bn.
Mining is still concentrated on oil and diamonds al-
though the exploitation of iron ore, gold and copper
is underway. Manufacturing is largely concentrated
in oil- and gas-related activities.
According to the latest forecasts of IMF dated Febru-
ary 2011, the oil sector should recover and register
+3,8% while the non-oil sector should reach 8,1%
growth despite the fall of daily production since mid-
2010 due to maintenance operations on offshore
complexes.
IMPORTS
Angola has developed multilateral trading relations
with regional and global partners and has consider-
ably diversified its economic partners over the last
decade, particularly in terms of non- African emerg-
ing economies.
China is the most important partner with 13,8%
share of the total imports valued US $ 2,49 Bn, other
countries such as Brazil, South Africa, India, the
Netherlands, UK and France are key players and of-
fer Angola a greater geographical diversity in supply.
Since 2003, imports of refined crude oil increased
on average each year by 34,6% to reach 2,6 million
metric tonnes by 2009. As local production cannot
meet the needs, Angola imports 70% of its refined
oil products.
Source: Angolan Customs Report 2010
Source: Angolan Customs Report 2010
Main importers share (in %)
Total imports in 2010US$ 18,1 Bn
Netherlands
China
USA
Brasil
South Africa
Japan
15%
20%
10%
5%
0%
UK
France
Norway
India
Belgium
Portugal
Gas Oil
Other motor petrol
Valves and similar appliances
Machinery spare parts (driling)
Aircraft gasoline
Driling platforms floating submersible
Iron and steel
Frozen cuts
Wheat
Cement
Pipes
Helicopters
Stouts
Cars
Frozen meat
Rice
Sugar
8,50%
5,80%
1,90%
1,90%
1,50%
1,20%
1,10%
1,10%
0,80%
0,80%
0,70%
0,70%
0,70%
0,60%
0,60%
0,50%
0,50%
1.543
1.050
347
340
277
215
205
195
152
147
134
133
126
115
104
99
98
Top Imported Goods in value (US$ M) & share (%)
Product
Value Share
According to the Conselho Nacional de Carrega-
dores, in terms of volume, the most imported prod-
ucts in 2010 are essentially related to food (over
60%) and construction (hydraulic cement, machin-
ery, industrial equipment, stones, concrete, spare
parts, tubes represented about 30% of total imports).
As an example, the US Census Bureau figures show
that imports from the United States were valued at
about US$ 1,3 Bn in 2010. These included nearly
US$ 316 million in drilling and oilfield equipment and
about US$ 14,4 million in excavating machinery.
The top export categories from the United States in
2010 were machinery, meat , iron and steel prod-
ucts, electrical machinery and aircrafts.
Angola has become Portugal’s largest export market
outside of Europe, accounting for 7% of Portuguese
exports in 2009 vs. 1% in 2000, according to the Por-
tuguese statistics institute and Eurostat, the Europe-