Foreign Trade
See also: Angola-United States relationsExports in 2004 reached US$10,530,764,911. The vast majority of Angola's exports, 92% in 2004, are petroleum products. US$785 million worth of diamonds, 7.5% of exports, were sold abroad that year. Nearly all of Angola's oil goes to the United States, 526 kbbl/d (83.6×103 m3/d) in 2006, making it the eighth largest supplier of oil to the United States, and to the People's Republic of China, 477 kbbl/d (75.8×103 m3/d) in 2006. In the first quarter of 2008, Angola became the main exporter of oil to China. The rest of its petroleum exports go to Europe and Latin America. U.S. companies account for more than half the investment in Angola, with Chevron-Texaco leading the way. The U.S. exports industrial goods and services, primarily oilfield equipment, mining equipment, chemicals, aircraft, and food, to Angola, while principally importing petroleum. Trade between Angola and South Africa exceeded USD 300 million in 2007. From the 2000s many Chinese have settled and started up businesses.
Read more about this topic: Economy Of Angola
Famous quotes containing the words foreign and/or trade:
“A régime which invented a biological foreign policy was obviously acting against its own best interests. But at least it obeyed its own particular logic.”
—Albert Camus (1913–1960)
“Is there something in trade that dessicates and flattens out, that turns men into dried leaves at the age of forty? Certainly there is. It is not due to trade but to intensity of self- seeking, combined with narrowness of occupation.... Business has destroyed the very knowledge in us of all other natural forces except business.”
—John Jay Chapman (1862–1933)