Major Cities of Portuguese Speaking Countries

Angola has ideal natural resources, stable political situation and sound economic policies. Its outstanding resources give agriculture a huge room for comprehensive development and many opportunities to manufacturing and processing industries. There is still potential to have infrastructure co-operation.

As the second largest oil producer in Africa, Angola has oil and diamond mining as the national economic backbones. Oil exports account for more than 95% of total exports. Angola’s export revenues account for nearly 60% of total revenues. In addition, construction industry also occupies an important economic position. Construction contractors from all over the world are attracted to Angola. Other highlighted and featured industries include agriculture, fisheries, livestock and communications industries.

According to the “2023 World Investment Report” published by the United Nations Conference on Trade and Development (UNCTAD), by the end of 2022, Angola has attracted US$14.72 billion on stock of inward direct investment. According to the “2022 Statistical Bulletin of China’s Outward Foreign Direct Investment” , by the end of 2022, the stock of direct investment by China in Angola was US$1.95 billion, mainly in the fields of construction, trade, real estate and manufacturing.

In 2022, the main export destinations of Angola include China, India and France. The export goods are mainly crude oil and jewelry. Angola’s main import sources include China, Portugal and Korea. The main imported goods include refined oil, mechanical and electrical equipment, vehicles and spare parts, etc.

In 2023, China’s exports to Angola amounted to US$4.14 billion, mainly include footwear, used clothing and motorcycle and parts and accessories; imports from Angola amounted to US$18.91 billion, main imports are crude oil.