Trade between South Africa and Angola falls

Johannesburg – The balance of trade between Angola and South Africa dropped in the first quarter of 2018 and the same period in 2017 at11, 92 percent corresponding to over 311million Rands (USD 25.2 million).

The figures contrast the comparative data recorded in the first quarters of 2018 and 2016, which recorded an increase at level of 68, 61 percent estimated at overall amount of over 810 million Rand (USD66.5 million).

According to the report presented on Tuesday in Johannesburg by Angola’s trade representative in South Africa, Videira Pedro, the drop recorded in 2018 and 2017 balance of trade is partial, providing that the data available report only until May this year.

However, the document forecasts a slight increase by the end of 2018.

According to Videira Pedro, who was speaking to Angolan press on the sidelines of the BRICS Summit, the crude oil exports and its derivates from Angola remains at level of 99,7 percent of South Africa’s volume of imports in terms of bilateral exchanges.

In its turn, South Africa exported animals, vegetables, pre-cooked food, mineral, chemical, plastics, rubber, leather, animals’ skin and its derivates, wood, textile products, shoes and umbrellas among others.

The Angolan official also said the trade relation between the two nations have improved, underling that the increased recorded in 2016 and 2018 was thanks to the investments made by the South African supermarket chain Shoprite.

To him, Angola has conditions to export pineapple to South Africa, but it needs to make a huge effort, taking into account that this country’s market is extremely demanding and competitive.

Source: Angola Press News Agency