|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. According to the National Institute of Statistics of Angola, the country had a population of 33.1 million in 2022. 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 “2022 World Investment Report” published by the United Nations Conference on Trade and Development (UNCTAD), by the end of 2021, Angola has attracted US$13.2 billion on stock of inward direct investment. According to the “2021 Statistical Bulletin of China’s Outward Foreign Direct Investment” , by the end of 2021, the stock of direct investment by China in Angola was US$2.7 billion, mainly in the fields of construction, trade, real estate and manufacturing.
|Trade in Goods|
In 2021, the main export destinations of Angola include China, India, United Arab Emirates and Thailand. The export goods are mainly crude oil and jewelry. Angola’s main import sources include China, Portugal, India and Togo. The main imported goods include crude oil, mechanical and electrical equipment, vehicles and spare parts, etc.
In 2022, China’s exports to Angola amounted to US$4.1 billion, mainly include footwear, clothing and smart phones; imports from Angola amounted to US$23.3 billion, main imports are crude oil.
Strategic positioning of Angola