See also:
02.07.2010 - Angola drilling ever deeper, hoping for the best
25.03.2010 - Angola attaches welfare to biofuel law
11.12.2009 - Sudan and Angola strike a deal with Vietnamese group
27.10.2009 - Govt's investments in infrastructure drive Angola's industry
21.08.2009 - SA and Angola sign trade and development deals
07.05.2009 - Electricity sectors in Angola and Mozambique ripe for investment, report
30.03.2009 - Angola estimates $75 per barrel in 2009
16.01.2009 - OPEC could cut more oil production











buy from China
Angola
Economy - Development

99.4% of Angola's exports are oil, diamonds

afrol News, 2 May - Post-war Angola is seeing a sharp rise in exports, which reached a total value of US$ 10.5 billion in 2004. The country however is deepening its economic dependence on mineral resources, and almost all exports are generated by the oil and mining sectors. Other economic development is lagging behind.

According to the newest statistics released by the Angolan government, the country's exports in 2004 totalled US$ 10,530,764,911, with oil and oil derivatives accounting for 91.92 percent of the total. Petroleum and petroleum products had generated nearly US$ 9.7 billion in state revenues last year.

Diamonds also in 2004 were Angola's second largest export commodity, generating nearly US$ 785 million in revenue. This equals 7.45 percent of total export revenue. The oil and diamond sectors thus totally represented 99.37 percent of Angola's exports last year, highlighting the country's total dependence on these two natural resources.

Other exporting sectors also mainly are related to natural resources. Fish exports totalled almost US$ 12 million - or 0.11 percent of total exports. Further, non-ferrous scrap metal accounted for US$ 4.7 million or 0.05 percent of total exports.

According to the governmental Private Agency for Investment (ANIP), there were few other commodities being exported from Angola. Other "miscellaneous exports" including wood, cassava, and shellfish accounted for the balance of total exports. The export data did not include coffee exports, ANIP informs.

Angola's exports of oil and diamonds are mostly directed towards markets in the North, including the US, Europe and East Asia. The relatively limited exports of food and wood products, meanwhile, mostly go to Southern African neighbour countries.

Although Angola is a member of the Southern African Development Community (SADC), the post-war country yet has to establish a significant export to this region. Angola still suffers from a ruined infrastructure, but is currently investing large funds in the re-establishment of major trade and infrastructure links to neighbouring countries and markets.

Also, large potentially productive parts of the country were devastated by the long civil war, with millions of mines hindering even subsistence agriculture. The Angolan government has focused its first post-war reconstructions on the fast cash producers oil and mining, but reconstruction efforts are now also directed towards demining, infrastructure, agriculture and other industries.


- Create an e-mail alert for Angola news
- Create an e-mail alert for Economy - Development news


 
    Printable version


On the Afrol News front page now

Rwanda
Rwanda succeeds including citizens in formal financial sector

afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
South Sudan | Sudan
Famine warning: "South Sudan is imploding"

afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
Guinea
Panic in West Africa after Ebola outbreak in Guinea

afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
Ethiopia
Ethiopia tightens its already strict anti-gay laws

afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
Ethiopia
Ethiopia plans Africa's biggest dam

afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.



front page | news | countries | archive | currencies | news alerts login | about afrol News | contact | advertise | español 

©  afrol News. Reproducing or buying afrol News' articles.

   You can contact us at mail@afrol.com