Economy

China is Exporting More to Angola than Portugal

China Is now the Country's Biggest Supplier

June 22nd, 2016
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In 2015, Portugal sold 1.5 billion euro worth of property to Angola. This value showed a decrease of 34.1% compared to 2014. This significant difference in numbers has ensured that Portugal has gone down in the list of the major exporters to the country, it is now placed after China in the ratings.

According to the annual foreign trade report, made by the National Statistics Institute (INE) of Angola, Chinese companies were the ones who bought and sold the most in the African country in 2015, overthrowing Portugal from the top of Angolan importations.

This report also showed that China, by itself, was responsible for the purchase of over 43% of Angolan exports, especially of petroleum. Concerning foreign purchases of Angola's goods and services, both China and Portugal felt a big decrease from 2014 to 2015. This decline is as a result of the sharp decrease in crude oil barrel prices in the international market.

Although China has imported 37% less to Angola, compared to the year before, they still spent 9.1 billion euro in the region in the last year. These numbers mean that China is both Angola's biggest importer and exporter.

In the list of countries who import the most from Angola, India is the country that comes in 2nd place with a share of 8%. In 2015, they spent 1.7 billion euros (although it is still less 28.9% than in 2014). Portugal comes in at 8th place, buying only 3,6% of Angola's sales overseas.

However on the other hand when it comes to exportations to Angola, China replaced Portugal in its position at the top of the countries Angola buys most of its products from. China sold 1.8 billion euro worth of goods and services to the African country, which corresponds to a share of 16.9%. This also means that, concerning China, the trade balance was largely in favor of Angola, with an outcome of 7.3 billion euros.

With this change, Portugal became the second largest supplier of Angola, having sold 1.5 billion euros in exportations to Angola in 2015, according to the Angolan INE report.

 

References:

Cultural Diplomacy News
Beatriz Nunes, CD News