|Basic Information||Angola is located in southwestern Africa. It is one of the important sea passages for central and southern Africa. It has a land area of approximately 1.246 million square kilometres and the population is predicted to reach 33.9 million in 2021. The capital is Luanda, the largest port and political and economic centre.|
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 “2021 World Investment Report” published by the United Nations Conference on Trade and Development (UNCTAD), by the end of 2020, Angola has attracted US$16.75 billion on stock of inward direct investment. According to statistics from the Ministry of Commerce of China, by the end of 2020, the stock of direct investment by China in Angola was US$2.69 billion, mainly in the fields of construction, trade, real estate and manufacturing.
|Trade in Goods|
In 2020, the main export destinations of Angola include China, India, Thailand and Spain. The export goods are mainly crude oil and Jewelry, Angola’s main import sources include China, Portugal, United States of America and Brazil. The main imported goods include mechanical and electrical equipment, vehicles and spare parts, cereals, etc.
In 2020, China’s exports to Angola mainly are footwear, vehicles and parts and clothing. The main imports from Angola are crude oil.
Strategic positioning of Angola