In May 2026, Angola’s trade balance posted a surplus of 1.07 trillion kwanzas, representing an increase compared to the 986.16 billion kwanzas recorded in the same period the previous year.
This favorable performance was driven by the trend in the average price of crude oil, the country’s main export.
According to a report by the National Institute of Statistics (INE), released yesterday on its official website, the fifth month of this year saw a 21.43 percent increase in goods exports and a 32.29 percent increase in goods imports compared to the same period last year.
Compared to last month, exports fell by 20.93 percent, while imports of goods rose by 22.29 percent.
The main destination countries for goods exports during the period under review were China (56.50 percent), Indonesia (8.58), India (8.06), Spain (7.60), and Italy (4.41) of the total value.
For imports of goods, the main countries of origin were Togo with 16.65 percent, China (16.38), the Netherlands (8.31), Portugal (7.23), and Saudi Arabia (6.85) of the total value.
In May, the destination countries with the largest year-over-year increase in the value of goods exports were: the United States, Italy, and Spain. On the other hand, the countries of origin that recorded the largest increase in imports of goods were: Togo, Saudi Arabia, and the Netherlands.
Exported and Imported Goods
According to the report released by the National Institute of Statistics (INE), during the period under review, the main product groups in goods exports were petroleum, fuels, and gas, accounting for 92.78 percent of the total value, and pearls, precious stones and metals, and jewelry, accounting for 3.78 percent of the total value. For imports of goods, the main product groups were petroleum, fuels, and gas (refined), accounting for 37.60 percent; machinery and equipment (17.93 percent); food products (8.78 percent); vehicles and other means of transport (7.55 percent); and chemical and pharmaceutical products (7.27 percent) of the total value.
During the period in question, the product groups with the largest increase in the value of goods exports compared to the same period last year were base metals, other products, and machinery and equipment. On the other hand, for goods imports, the main groups were petroleum, fuels, and gas (refined), vehicles and other means of transportation, and food products.
First-Quarter Data
The country recorded a 12.3 percent increase in goods exports in the first quarter of 2026, driven by a 21.9 percent rise in crude oil revenues, while imports fell by 17.1 percent and foreign purchases of food products decreased by 29.2 percent.
The data were included in the Report on the Origin and Destination of Foreign Exchange and Foreign Currency Flows, which was recently reviewed during the 1st Ordinary Meeting of the Economic Commission of the Council of Ministers, chaired by Head of State João Lourenço at the Presidential Palace in Cidade Alta.
The banking sector report, cited on the Angolan Government Portal, also indicated that international reserves stood at 15.9 billion dollars at the end of the first quarter of the year.
Source: Jornal de Angola
