Angola’s trade balance recorded a deterioration of 31.50% in 2025, despite the exception of diamonds, which were boosted by the new Luele mine, according to official statistics. The 2025 International Trade Statistics Yearbook, released by the National Statistics Institute (INE), reveals that the surplus remains positive but dropped from 18.6 trillion kwanzas (17,586 million euros) in 2024 to 12.8 trillion kwanzas (12,047 million euros).
This deterioration results from a decrease in exports, which fell 11.53% to 28 trillion kwanzas (26,478 million euros), and a 16.93% increase in imports, which grew to 15.3 trillion kwanzas (14,431 million euros). The fall in exports is primarily justified by crude oil, which accounts for more than 90% of the total exported value—around 24,211 million euros—and dropped 14.16% compared to 2024, reflecting lower exported volumes and falling international prices.
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Diamonds were the exception, as exports of precious stones and precious metals grew 21.15% to 1.6 trillion kwanzas (1,534 million euros), driven by the new Luele mine, which started production in the third quarter of 2024 and almost doubled the volume of exported carats. The coverage rate of imports by exports decreased from 242.5% in 2024 to 183.5% in 2025.
On the export side, China continues to be the main destination, accounting for 47% of the total, followed by India with 11.84%, and Indonesia with 6.40%. The five largest destinations concentrate more than 76% of total exports, showing a geographical concentration that accentuates the vulnerability of the Angolan economy to external shocks.
