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The Numbers of the Economy of Angola

Despite the severe economic crisis resulting from falling world oil prices, Angola has in recent years had small but steady steps towards the growth of its economy.

According to the results presented in the "Foreign Trade Statistics Yearbook - 2016" by the National Statistics Institute of Angola, the growth in Angola's trade balance in 2016 had a positive balance of 2,779 billion kwanzas, approximately € 15 million euros, meaning an increase of around 50% compared to 2015 results.

Compared to the same period last year, there was an increase of 18.76% in Exports in 2016, while imports decreased by 22.37%.

Analyzing the results presented, and despite the decrease in the import rate, Angola's main partner title returned to Portugal with 14.89% of the volume of imports.

Portugal thus dethroned China, which in 2016 was the second partner in imports with Angola with a share of 12.54%. This result represented a reduction 36% compared to the year 2015.

The United States of America with 10.75% and South Africa with 5.25%, respectively, are third and fourth in the list of countries from which Angola imported products such as: "Machinery and Equipment", "Agricultural" "Common Metals", "Chemicals" and "Fuels".

Regarding exports, they are still essentially based on the fuel sector with a share of 92.97%.

In this field, China strengthened its position as the largest buyer in Angola, registering a 45% share of Angolan exports in 2016, followed by India with 6.89%, the United States of America with 5.11%, and South Africa with 4.78%.

Portugal occupied the ninth place in 2016 as the country of destination for Angolan exports, with a quota corresponding to 3.20%, representing an increase of 8.28% over 2015.

Although the Angolan economy is still in a moderate growth phase, it is hoped that the present year of 2017 will be better in terms of economic growth.

Both the political and social stability that exists in the country, but also to the investment of all the partners who continue to want to invest in Angola contribute to thes end.