FOREIGN TRADE AND ASSISTANCE
Because of the overall decline in productivity after
independence, Angola has become increasingly dependent on
trade and assistance to meet its domestic needs. It has
dependent on oil export earnings to fund imports.
the most important imports have been machinery items,
equipment for the oil industry. By the mid-1980s, however,
equipment and food were becoming Angola's most important
The country continued to export most of its oil to the
particular the United States. The Soviet Union, as the
arms supplier, and France and the United States, as
oil equipment, were the country's major import partners.
from individual foreign countries and international
was also becoming increasingly important to Angola because
mounting food crisis.
Only by severely limiting imports has the government
to prevent a serious crisis in the balance of payments
the 1980s, the Ministry of Planning, in consultation with
National Bank of Angola (Banco Nacional de Angola--BNA),
Ministry of Domestic and Foreign Trade, and other
up an annual foreign trade budget as part of the annual
plan. This plan set ceilings for categories of imports in
sector of the economy, and import quotas were then
individual companies. For each foreign order, the
was required to submit invoices and apply to the Ministry
Domestic and Foreign Trade for an import license. Most
brought in by state foreign trade companies and new
import-export companies. However, the oil companies
exchange autonomy and imported their equipment directly.
Data as of February 1989