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MARKET BRIEFING – ANGOLA

Luanda-Capital of Angola
Feira International de Luanda (FILDA)
Oil industry facility of Angola

ECONOMIC SITUATION

Angola is located in southwest Africa, to the west coast of the African Continent. With substantial deposits of mineral resources, petroleum and natural gas, diamond stands out as the second largest mineral reserve of the country, amounting to 370 million carats and 50% of which in gem category. The forests of Angola cover 53 million hectares, being rich in precious wood such as ebony, African sandal and red sandal. In addiction, water and maritime resources are also abundant.

In recent years, Angola has been one of the African countries with the fastest growing economies. According to the statistics published by the International Monetary Fund, between 2003 and 2010, Angola’s Gross Domestic Product (GDP) rose from US$ 45.342 billions to US$114.343 billions, with the GDP per capita from US$3,116 to US$6,412, as was calculated on the basis of Purchasing Power Parity (PPP).

BUSINESS OPPORTUNITIES

Industry and Mining
Petroleum and diamond mining is the pillar industry of the national economy, with oil and gas exploitation and oil refining accounting for nearly 60% of GDP. Other main industries range from farm product processing, beverage production to textile processing, cement and building materials production, plastic products, metal processing,cigarettes production, shoemaking and so on. The main destinations of oil export are the United States, China and other countries from Europe and Asia. Moreover, the annual output value of Angolan diamond (raw diamond) accounts for 12% on the global diamond market and ranks 5 th in the world.

Agriculture
The country has fertile soil and crisscross network of rivers, offering favourable conditions for the agricultural development.The arable land totals 3.2075 million hectares, with agricultrual population standing for 65% of the country’s total. Cash crops include coffee, sisal hemp,sugarcane, cotton and peanuts in the north, while cereal production is based on the central plateau and the southwest region, including corn,cassava, rice, wheat, potatoes, beans and so on.

Fishery
Angola is bordered by the Atlantic Ocean and rich in fishing resources. Fishery is one of the key industries of the country and provides about 50,000 jobs, with annual fishing output amounting to 300,000 tons. The fishing ground offers excellent conditions for year-round operations. Most of the small and medium sized fishing companies have been privatized.

Construction Sector
The market potential for infrastructure and housing projects is enormous in Angola, thus the construction industry plays a vital role in the national economy, bringing together construction contractors from around the world. With a lot of foreign enterprises coming to the fore, competition is gaining momentum in the country’s construction market.

Source:
http://wallaceqhiggins.wordpress.com/2010/07/28/fil-feira-internacional-de-luanda/

http://www.epochtw.com/11/7/13/170043.htm

http://trendsupdates.com/wp-content/uploads/2009/11/Angolas-oil.jpg

MAIN ECONOMIC INDICATORS 2011
Gross Domestic Product(US$ trillion) 117.2
Real GDP growth (%) 3.4
GDP per capital(US$) 6,000
Inflation(%) 14.3
Land area(sq km) 1,246,700
Population (Million) 18

Source: CIA-The World Factbook –Angola, https://www.cia.gov/library/publications/the-world-factbook/geos/ao.html

FOREIGN TRADE FROM 2007 TO 2011

(unit: US$ Billions)
Year
Total Trade
Exports
Imports
2011 $ 90.39 $ 65.63 $ 24.76
2010 $ 69.75 $ 51.65 $ 18.1
2009 $ 55.82 $ 40.08 $ 15.74
2008 $ 84.28 $ 67.2 $ 17.08
2007 $ 45.74 $ 35.53 $ 10.21

Major Export Commodities: crude oil, diamonds, refined petroleum products, coffee, sisal, fish and fish products, timber, cotton

Main Import Commodities:: machinery and electrical equipment, vehicles and spare parts; medicines, food, textiles, military goods

Source:
1. CIA-The World Factbook – Singapore, https://www.cia.gov/library/publications/the-world-factbook/geos/ao.html
2. Index Mundi-Country Fact, http://www.indexmundi.com/angola/

Main Destinations for Exports(2011) %
China 37.7
US 21
India 9.5
Canada 4.9
Main Origin of Imports(2011) %
Portugal 20.4
China 17.7
US 9.5
Brazil 6.8
South Africa 6.1
France 5
India 4.4

Source: https://www.cia.gov/library/publications/the-world-factbook/geos/ao.html

MAINLAND CHINA – ANGOLA

( US$100 million)
Year Total Exports Imports
2012 Jan-Mar 86.8 6.78 80.1
2011 277 27.8 249.2
2010 248.17 20.04 228.13

Source: Ministry of Commerce of the People’s Republic of China. http://xyf.mofcom.gov.cn/date/date.html

MACAO – ANGOLA BILATERALTERAL TRADE 2011

Type of Trade Weight (KG) Patacas
Imports
Exports 6,660 1,393,239

Source: The Statistics and Census Service, http://www.dsec.gov.mo/

MAJOR WEBSITE RECOMMENDATIONS:
THE ANGOLA GOVERNMENT’S OFFICIAL PORTAL:
http://www.angola.org/

SOURCE:

1. The Ministry of Foreign Affairs of the People’s Republic of China
http://www.fmprc.gov.cn/chn/default.htm
2. The Ministry of Commerce of the People’s Republic of China
http://www.mofcom.gov.cn
3. The Economic and Commercial Counselor’s Office of the Embassy of the People’s Republic of China in Angola
http://ao.mofcom.gov.cn/index.shtml
4. The Statistics and Census Service
http://www.dsec.gov.mo/
5. The World Factbook
http://www.cia.gov/