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China biggest buyer of Angolan exports in 1Q16

China was the single biggest destination for Angolan exports – most of them in the form of crude oil – in the first quarter of 2016, Portuguese news agency Lusa reported on Monday.

Angola’s exports to China were worth a total of 192 billion kwanzas (US$1.16 billion) in the first three months of the year, down by 50 percent year-on-year, said the report, quoting figures from Angola’s Ministry of Finance.

The world’s second-largest economy was also the second-largest supplier of goods to Angola in the first quarter of this year. Exports to the African nation from China were worth 69.7 billion kwanzas, representing a 47-percent decline from the previous year.

In the first quarter of 2016, the total imports of the African nation totalled 494 billion kwanzas, down by 41 percent year-on-year, while its exports amounted to 457 billion kwanzas, decreasing by 51 percent from the previous year. The United States was the biggest supplier of goods to Angola in the first three months of 2016, the report added.