Angola recorded a 10% drop in its oil exports in 2019. This is what the Macauhub news agency reports , citing the Angolan Ministry of Mineral Resources and Petroleum.

According to the institution, Angola exported in 2019, 478.9 million barrels of oil compared to 536.9 million in 2018. China, Spain and India were the main recipients of Angolan crude with 72.0%, 6.0% and 5.0% respectively of total exports.

This announcement comes in a context marked by an intensification of the efforts of the government of Joao Lourenço to wean the Angolan economy from its dependence on oil and to boost growth. The second largest oil producer on the continent, the country has faced a gradual decline in production for several months due to the maturity of several of its producing fields.

In total, $ 31.2 billion in oil export revenue was recorded in 2019.

Source: Agence Ecofin