Angola recorded a trade surplus of €3.65 billion in the first quarter of the year, a year-on-year increase of 11.68%, driven by the recovery in oil prices in March, Lusa reported on Wednesday (13).
According to the report, the data is included in the foreign trade statistics for January, February, and March released by the National Institute of Statistics (INE).
The figures show that January was the weakest month of the quarter, with the trade balance falling 61.06% year-on-year to 407 million euros, a result of the drop in crude oil prices, Angola’s main export product.
The situation reversed in the following months. In February, the balance (the difference between the value of exports and the value of imports) recovered to 944 million euros, still below the figures for the same period the previous year (-19.08%).
In March, however, the balance surged to 2.30 billion euros, an increase of 117.96% compared to March 2025, driven both by the rise in the average price of crude oil and the decline in imports recorded in February.
The data for January and February cite the National Institute of Statistics (INE), the General Tax Administration (AGT), and the Ministry of Mineral Resources, Oil, and Gas (Mirempet) as sources, while the data for March are based solely on the AGT and Mirempet.
Oil dominated exports throughout the quarter, accounting for 91.30% of the total in January, 92.29% in February, and 95.58% in March. The second most significant export product was pearls, gemstones, and precious metals, with a share that fell from 6.15% in January to 2.63% in March.
China and India remained the main destinations for Angolan exports throughout the quarter, together accounting for between 63% and 74% of the total, according to the same data. China led in all three months, with shares ranging from 43.50% to 48.24%, while India recorded its highest share in February, at 28.03%.
Third place was held by Indonesia in January and February and by Thailand in March, confirming Asian markets’ preference for Angolan exports.
China was also Angola’s main supplier during the quarter, followed by India in January and February, and South Korea in March. Portugal ranked as the third-largest supplier in January, February, and March, with an upward trend throughout the quarter and shares of 7.39%, 7.75%, and 8.66%, respectively.
Mineral fuels and refined petroleum accounted for between 17% and 22% of Angola’s total imports in each of the three months of the quarter.
Machinery and equipment were the second-largest category, followed by vehicles and other means of transport, base metals, and food products.
