Angola’s crude oil export revenues fell sharply in the first quarter of 2025, according to official figures released by the Secretary of State for Oil and Gas, José Barroso. Addressing reporters on Thursday, Barroso confirmed that the country generated 6.4 billion U.S. dollars during the period, representing an 18 percent decline compared to the same period last year.
Over the quarter, Angola exported 85.14 million barrels of crude oil, marking a 13.5 percent decrease from the final quarter of 2024 and a 9.8 percent reduction year-on-year. China remained the principal destination for Angolan crude, followed by India, Indonesia, Spain, and Malaysia.
Barroso attributed the revenue contraction to volatility in the Brent crude price throughout the opening months of the year, compounded by subdued global demand, rising tariff barriers, and market expectations of further U.S. Federal Reserve interest rate hikes. This combination of factors exerted sustained downward pressure on oil prices, weakening the fiscal outlook for one of Africa’s largest oil producers.
Oil exports constitute the primary source of Angola’s public revenues. However, current international crude prices have fallen below the 70-dollar-per-barrel benchmark on which the Angolan national budget for 2025 was predicated, introducing significant budgetary risks.
An article recently republished by Angola24Horas highlighted growing concerns over the impact of escalating trade tensions initiated under the administration of former U.S. President Donald Trump. Analysts cited by the platform argued that these tensions continue to “strike at the heart of Angola”, contributing to a broader economic slowdown, dampened oil demand, and persistently lower global prices.
With Angola’s economic trajectory heavily dependent on oil, fluctuations in external markets and policy-driven uncertainties remain central challenges for Luanda’s policymakers as they seek to maintain macroeconomic stability amid a volatile international environment.
