Petroleum products dominate Angola export trade figures. Diamond is yet another significant contributor.
These two products constitute more than 80% of the total export value. Angola exports products mainly to China, France, the USA and EU. Almost all oil export from Angola goes to the USA. Other major items of export are:
Due to the favorable trade environment, Angola export figures have almost increased threefold in the period 2006-2009. Surging international oil prices are one of the primary drivers for Angola’s export growth. The country ranks 46 in terms of merchandising export and 147 in export of commercial services.
As one of the world’s fastest growing economy, Angola is set to become Africa’s next political and economic powerhouse.
For 27 long years, Angola, embroiled in civil war, was cut off from the world of international diplomacy. But today, since the signing of the peace agreement in 2002, Angola’s strategic, multi-lateral partnerships already extend across the globe.
The twenty-first century has heralded the dawn of a new era for Angola. The country’s oil wealth makes Angola particularly attractive to the international community.
Portugal maintains a strong diplomatic bond with its former colony. The United States of America consider Angola vital to its interests in Africa, and China now imports more oil from Angola than any other country in the world.
Norway, Japan, Israel and India are among a number of other states keen to cement their relationships with Angola.
Growing relations between Angola and the Bretton Woods institutions – the International Monetary Fund and World Bank – demonstrate the country’s dedication to serious engagement with the international community.
Membership of the World Trade Organisation (WTO), the Organization of the Petroleum Exporting Countries (OPEC), South African Community for Development (SADC) and Community of Portuguese Language Countries (CPLP) further testify to Angola’s commitment to its global and regional responsibilities.
Having consolidated internal peace and security, Angola is emerging as one of the most influential countries on the African continent.