Trade Balance With Brazil Satisfies Angola

Luanda: The trade balance between Angola and Brazil has recently seen growth with a surplus of around US$ 313 million. The above mentioned growth benefited Angola in 2023. According to Angola Press News Agency, trade between the two countries has increased significantly, with growth of 8.8% between 2018 and 2022. Data indicate that, in 2022, the value of trade transactions between the two countries reached around USD 700 million. Angola's exports to this South American partner, which the Angolan Head of State, Joo Lourenço, will visit as from today, increased by 41% in the first ten months of 2023, while imports from Brazilian products decreased by 24%. In 2024, Brazil's exports to Angola reached USD 493 million, focused on products such as frozen beef, pork and poultry representing 30% and sugar (23%), while the largest quantities are made up of oil (94%) and oil by-products (6.2%). Brazil, considered an important trading partner of Angola, is one of the largest food producers in the world, along with Chin a and India, and one of the leading producers of animal protein, and due that the country can benefit from this economic 'giant' on several levels. With the visit of the President of the Republic, the two countries are planning to boost cooperation, focusing among others, on the agricultural sector. One of the 'targets' of the cooperation program is the Cunene Valley project, aimed at promoting irrigated agriculture. The Angolan government has given priority to programs in the area of agriculture, with a view to guaranteeing food security and expanding the country's economic growth, and Brazil appears to be an ideal partner, given that it faces similar challenges. In 2023, on the occasion of President Lula da Silva's visit to Angola, the countries signed seven cooperation agreements and technical memoranda in the areas of agriculture, tourism, health, education, human resources, support for small and medium-sized companies and exports. Brazil is a country with a competitive and diversified market and vast experience in areas such as agriculture, food industry, aeronautics, among others. This country has the largest economy in South America, with a Gross Domestic Product (GDP) of USD 2.13 trillion.