Foreign Trade Statistics from the National Statistics Institute (INE) show that imports and exports to Africa are barely increasing, despite the President’s recent call to buy and sell closer
Angolan exports to Africa stood at 81.3 billion kwanzas in the third quarter of 2023, as shown by INE data on foreign trade. The same data indicates that the total exported in the third quarter of that year was just over 8 billion kwanzas. After all, Angolan exports to African countries represent 1% of the total exported in that period. A low volume of exports, but it is still greater than the volume exported in the previous quarter, which reached 60.6 billion kwanzas, as the data indicates.
To get an idea of how little we export to Africa, we just need to realize that the 81.3 billion kwanzas collected in exports in the third quarter of 2023 is much higher than the amount collected from exports in the same period of the previous year, that is, 2022. In other words, the 1% of exports in the third quarter of 2023 brought more than 8 billion kwanzas than the total collected from exports to the continent in the third quarter of 2022, which, according to the data, stood at 73, 1 billion kwanzas.
Imports at 442.5 billion kwanzas
Angolan imports originating on the African continent stood at 442.5 billion kwanzas. A value much higher than that exported, but which represents little in terms of weight, compared to the total of 3.1 billion kwanzas which, as the data shows, was actually the total imported. All in all, imports from African countries represent 14.1% of the total imported in the third quarter of 2023. The difference here is that the increase is positive, that is, the volume imported from African countries has been increasing from quarter to quarter quarter.
Note that, in the third quarter of 2022, the volume imported from Africa represented only 94.8 billion kwanzas. Now, in the third quarter of 2023, it reached 442.5 billion kwanzas, a growth of more than 400%, as the calculator reveals. But, even before reaching the more than 442 billion kwanzas spent on importing items from Africa, it had already grown, when it went from 94.8 billion kwanzas to 268.5 billion kwanzas, recorded in the second quarter of the year 2023.
BY: Laudislau Francisco