The public agency Andalusia TRADE has organized a multi-sector commercial meeting in Luanda (Angola) with the aim of promoting the presence of Andalusian companies in this market, one of the most relevant on the African continent.
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The mission, which takes place from February 12 to 16, has brought together nearly 50 Andalusian companies with a group of Angolan importers and distributors, with the aim of generating business contacts and establishing lasting relationships.
Angola, with a GDP of 103.000 billion dollars in 2023, is the second country with the highest GDP in the Development Community of Southern Africa and the tenth within the African Union. The country has a stable political and legal framework that has allowed sustained economic growth in recent years. The Angolan economy is expected to grow by 3,2% in 2024, according to the IMF.
Angola has the second largest GDP in Southern Africa and is expected to register economic growth of more than 3% in 2024
Angola offers great potential for Andalusian companies in various sectors, such as the agricultural auxiliary industry, the agri-food industry (olive oil, canned vegetables and fish, juices, rice and pasta), consumer goods (furniture, perfumery and cosmetics, footwear, etc.), construction materials, digitalization, electrical equipment and civil infrastructures.
Andalusian exports to Angola reached 16 million euros in the first eleven months of 2023, 38% more than in the same period of the previous year. Seville is the province that leads sales to this market, with a total of 6,3 million euros, followed by Huelva (5,4 million) and Cadiz (2,1 million).
Machines and boilers are the most exported item to Angola, with 26,5% of the total invoice. This is followed by cast iron, iron and steel manufactures (15%), electrical machinery and equipment (11%) and mineral fuels (8,7%).
Angola 2050 Plan: A framework for economic diversification
The Angolan government is promoting a series of structural reforms under the National Development Plan 2023-2027, which is part of the “Angola 2050” project. This plan aims to diversify the economy, improve the quality of life of the population and encourage foreign investment.
