The Central Bank of Angola issued a current account balance report on Tuesday, September 8, stating that China imported 3.85 billion US dollars worth of crude oil to Angola in the first quarter of this year, accounting for approximately 66.9% of Angola’s exports.
The report stated that China is the third-largest direct overseas investor in Angola’s oil industry, with an investment of 194.3 million; and China is also the main source of Angola’s commodities, accounting for 14.7% of safe country imports in the first quarter of this year.
The Central Bank of Angola stated that China is still the largest source of financing in Angola, accounting for 45% of the Angolan government and public sector debt, down 0.3% from the end of last year.