Angola | South Korea and China overtake Portugal as exporters

A worker walks on a shipping container at a container terminal in Tokyo, Japan, on Tuesday, April 21, 2015. U.S. and Japanese officials failed to reach agreement in marathon trade talks in Tokyo, a setback for Prime Minister Shinzo Abe’s hopes of arriving for a summit in Washington next week with a pact in hand. Photographer: Kiyoshi Ota/Bloomberg

South Korea and China overtook Portugal as the leading suppliers to Angola in the first quarter of 2015, according to a quick fact sheet from the Angolan National Statistics Institute.
The document, which contains data on the first and fourth quarters of 2014 and the first quarter of 2015 reports that South Korea, starting from a very low basis, managed to become the main supplier of goods to Angola with an amount of 137.619 billion kwanzas.
China, for its part, was second with 107.601 billion kwanzas, with an annual increase of 134.4 percent but a decrease of 9.2 percent on the previous quarter. Portugal, which in the first and fourth quarters of 2014 was the main supplier of Angola’s imports, was relegated to third place with 70.033 billion kwanzas, which was a year on year fall of 2.1 percent and a drop of 41.3 percent against the previous quarter.
In the first quarter of 2015, South Korea accounted for 21.5 percent of all Angola’s imports, followed by china with 16.8 percent and Portugal with 10.9 percent.
In terms of Angola’s exports, China remained the main buyer, with a total of 878.483 billion kwanzas, which represents a year on year fall of 49.7 percent and of 26.8 percent over the previous quarter, accounting for 43.9 percent of Angolan exports. In the list of buyers Portugal is located in sixth place, with a weight of 3.8 percent and South Korea is included in the “other” category.
More than 9,000 companies from Portugal currently export to Angola and around 2,000 Angolan companies have Portuguese investors, according to the Portuguese Agency for Investment and Foreign Trade (AICEP).  MDT/Macauhub