Angola/China business volume grows over 23%

  • Angola/China business volume grows
Luanda - In the first quarter of 2021, the volume of business between Angola and China grew by around 23.9%, calculated at US $10.5 million.

Of the total value of trade, the Chinese imported from Angola the equivalent to US $9.5 million, with a growth of around 21.6%.

 

To Angola, China exported goods valued at US$1.3 billion, a growth of 50%.

 

The information was given by the Chinese ambassador to Angola, Gong Tao, at a press conference, which aimed to present the balance of its activities throughout 2020.

 

The diplomat said that in 2020 the volume of business between countries had a sharp drop of 37%.

 

The drop in the volume of trade between the two countries, among the causes, has been blamed on the effects of the Covid-19 pandemic, which affected the oil market, since oil is the main product that Angola sells to China.

 

"China continues to maintain the status of Angola's biggest trading partner and trade cooperation between the countries is of mutual benefit," said the ambassador.

 

Regarding Angola's debt moratorium with China, the ambassador explained that companies in charge of debt service continue to maintain a dialogue with Angola to reach a debt service moratorium agreement.

 

"Companies in charge are working with Angola to review the new debt moratorium package," underlined Gong Tao.

Of the total value of trade, the Chinese imported from Angola the equivalent to US $9.5 million, with a growth of around 21.6%.

 

To Angola, China exported goods valued at US$1.3 billion, a growth of 50%.

 

The information was given by the Chinese ambassador to Angola, Gong Tao, at a press conference, which aimed to present the balance of its activities throughout 2020.

 

The diplomat said that in 2020 the volume of business between countries had a sharp drop of 37%.

 

The drop in the volume of trade between the two countries, among the causes, has been blamed on the effects of the Covid-19 pandemic, which affected the oil market, since oil is the main product that Angola sells to China.

 

"China continues to maintain the status of Angola's biggest trading partner and trade cooperation between the countries is of mutual benefit," said the ambassador.

 

Regarding Angola's debt moratorium with China, the ambassador explained that companies in charge of debt service continue to maintain a dialogue with Angola to reach a debt service moratorium agreement.

 

"Companies in charge are working with Angola to review the new debt moratorium package," underlined Gong Tao.