China is top destination for Angolan exports in Q1

China was the main destination for exports from Angola, mainly oil, in the first quarter of 2016, according to Angolan Finance Ministry figures.
In the first three months of the year, Angolan exports to China totaled USD1.16 billion, or a decrease of 50 percent over the amount recorded in the same period of 2015. China was also the second largest supplier of Angola in the same period. The value of imported products reached $418 million, an annual contraction of 47 percent.
Meanwhile, Angola’s diamond production continued to demonstrate growth.
In June of this year Angola produced and marketed more than 760,000 carats of diamonds, valued at about $80 million, according to the Ministry of Geology and Mines (MGM).
According to a statement from the Ministry, production increased 2.28 percent and sales increased 5.35 percent compared to May.
The increase in volume was due to the fact that production at the Catoca mine registered a slight increase of 0.82 percent compared to the same period of 2015.
Production at Catoca accounted for 82 percent of the volume by carats and 56 percent by sales value.
The diamonds sold, at an average price of $150 per carat, were also from the Lulo, Somiluana, Camutué and Luo projects.
From January to March Angolan imports totaled $2.963 billion, an annual reduction of 41 percent and exports reached $2.741 billion, 51 percent less year-on-year.
In the first quarter of the year the United States was Angola’s main supplier, overtaking China and pushing Portugal into third place, according to Portuguese news agency Lusa.
In the period US companies exported goods and services to Angola worth $485 million, mainly turbojets, turbopropellers and other gas turbines purchased by state power production company Prodel. MDT/Macauhub