Complex Made Simple

UAE and Angola trade exchange hits AED10.64 billion

Ministry: Two countries working to strengthen their economic ties

The volume of non-oil trade between UAE and Angola amounted to approximately $2.9 billion (AED10.64bn) in 2014, according to UAE ministry of economy.

The ministry pointed out that the two countries are working to strengthen their economic ties, Al Ittihad reports.

Angolan economy grew by 3.9 per cent in 2014, recording a relative recovery after the global crisis in 2008. The economic growth of Angola, which touched 2.4 per cent in 2009, recovered gradually to roughly 6.8 per cent in 2013, according to a report prepared by the Trade Policy Department at the UAE’s ministry of economy, which reviews the trade policies of Angola.

The report said that the UAE exports petroleum oil and mineral oils, which is a non-oil crude, as well as paints of different types, while it imports diamonds, copper and aluminium scrap.