Luanda: The trade balance between Angola and India has shown significant growth in recent years, reaching USD 4.19 billion in 2024, favoring Angola. Although their bilateral relations were officially formalized in 1985, trade between the two countries surged after the end of the war in Angola in 2022.
According to Angola Press News Agency, available data indicates that the trade volume, initially a few million dollars, escalated to USD 450 million in 2006-07, and further to USD 1.3 billion in the subsequent biennium. It reached USD 1.4 billion during the 2008/2009 period. This robust bilateral exchange has led both nations to commit to strengthening their existing relations.
In 2012-2013 and 2013-2014, high-level visits between the countries resulted in unprecedented trade figures of approximately USD 7.6 trillion and USD 6.5 billion, respectively. However, the bilateral trade declined due to falling oil prices in 2015-2016, dropping to USD 2.8 billion. A partial recovery occurred between 2017-18 and 2018-19, reaching USD 4.6 billion and USD 4.4 billion, respectively. The impact of Covid-19 saw trade fall to USD 3.9 billion in 2019-2020 and further to USD 2.1 billion at the peak of the pandemic in 2020-2021, before rebounding to USD 3.2 billion in 2021-22.
In 2024, bilateral trade stood at USD 4.19 million, with Indian exports hitting a record USD 698 million. In January 2025, India exported USD 52 million and imported USD 230 million from Angola, reinforcing its position as a key trading partner, second only to China.
India is a major importer of Angolan oil, comprising about 90% of bilateral trade, along with iron, steel, copper, aluminum, and lead. Indian exports to Angola include meat, medicines, chemicals, cotton, textiles, vehicles, machinery, and more. Approximately 200 Indian enterprises operate in Angola, involved in sectors such as metal smelting, plastics, and mineral water bottling.
Business opportunities are promoted through events like the 3B Business Growth Conference and the India-Africa Business Conclave. Angola has also exempted citizens from 98 countries, including India, from visa requirements to boost tourism.
The partnership has led to India extending three Lines of Credit through EXIM Bank, including USD 30 million for a historical park and USD 15 million for a textile project. Additional credit lines have supported the supply of Indian farm equipment and tractors. India's Exim Bank has also funded the Mocamedes Railway rehabilitation project, marking India's first significant initiative with Angola.
Both governments aim to further capitalize on their trade potential, with plans for another round of negotiations to enhance bilateral trade.
