[2020-09-10] China buys 66.9 pct of Angolan exports of crude oil in Q1

Source: Macauhub

Angolan central bank data indicate that China bought US$3.85 billion worth of Angolan crude oil in the first quarter of this year, or 66.9 percent of Angolan exports of crude by value.

A document issued by the National Bank of Angola says China put US$194.3 million into the Angolan oil industry, meaning it was the third-biggest foreign direct investor in the industry.

The document says 14.7 percent of Angolan imports came from China in the first quarter.

China remained the biggest creditor of Angola, 45 percent of the Angolan public-sector debt at the end of the first quarter being owed to China, the proportion having been 45.03 percent three months earlier.