This article covers trade between India and Angola, the importance of oil in that trade, and the ministerial and business visits on trade, energy, minerals, finance and business promotion. All facts and figures are drawn from the Ministry of External Affairs (MEA) bilateral brief of April 2026.

Trade overview

According to the MEA brief of April 2026, India has been among the top 3 trading partners of Angola for some years, accounting for about 10% of Angola's external trade. The balance of trade is in Angola's favour. India is the 2nd largest oil importer of Angola, and the brief states that oil accounts for around 90% of bilateral trade.

In 2023-24, bilateral trade amounted to US$ 4.19 billion, with Indian exports to Angola reaching a record US$ 698 million. The brief states that in 2024-25 trade increased by 20% to US$ 5.03 billion, with Indian exports valued at US$ 524 million.

Trade figures

The brief gives India's imports from and exports to Angola in USD million:

  • 2019-20: exports to Angola 285, imports from Angola 3649, total trade 3934, balance of trade -3364
  • 2020-21: exports 260, imports 1880, total 2140, balance -1620
  • 2021-22: exports 452, imports 2725, total 3177, balance -2273
  • 2022-23: exports 622, imports 3599, total 4221, balance -2977
  • 2023-24: exports 698, imports 3495, total 4193, balance -2797
  • 2024-25: exports 524, imports 4509, total 5033, balance -3985

The balance of trade shown in the brief's table is negative for India in every year from 2019-20 to 2024-25.

Leaders' discussions on trade

Angolan President Joao Manuel Goncalves Lourenco met Prime Minister Modi on July 26, 2018, during his visit to Johannesburg for the BRICS Summit. They discussed ways to enhance trade and investment between the two countries and to deepen cooperation in sectors such as energy, agriculture, food processing and pharmaceuticals.

Energy

The brief describes relations between the two countries as underpinned by an energy partnership. During the visit of Angolan Vice President Manuel Vicente to India in October 2015, the Minister of State for Petroleum and Natural Gas, together with the Managing Director of ONGC Videsh, called on him to discuss cooperation in the field of energy.

Minister of Petroleum and Natural Gas Shri Murli Deora visited Angola in January 2010 to discuss oil and energy cooperation.

Trade, minerals and finance

  • Minister of State Anand Sharma visited Angola in June 2007. He called on the President of Angola and met the Ministers of Foreign Affairs, Petroleum and Geology and Mines, and the President of Endiama, the state-owned diamond company.
  • Minister of State for Commerce Shri Jairam Ramesh visited Angola in March 2008 to discuss trade and investment.
  • Mr. Abrahão Gourgel, Minister of Economy, visited India in June 2017, accompanied by a high-level delegation of Secretaries of State.
  • Mr. Janio da Rosa Correa Victor, Secretary of State for Geology and Mines, visited India from March 28-30, 2018 to discuss diamond trading.
  • Mr. Archer Mangueira, Finance Minister, paid a working visit to India on 02 Sep, 2019 and held discussions with the Exim Bank on various projects under the LOCs and Buyers credit programme.

Business promotion

During his State visit in May 2025, President Joao Lourenco attended an event organised by CII on May 4 on business opportunities between India and Angola.

Mr. Rui Miguens de Oliveira, Minister of Industry & Commerce of Angola, took part in the 19th CII India Africa Business Conclave in New Delhi on 21 Aug, 2024, and in the 30th CII Partnership Summit 2025 in Vishakhapatnam on 14 November, 2025.

Ms. Silvia Lutucuta, Health Minister of Angola, took part in the Pharma Live Expo & Summit 2023, held in Mumbai from 1-3 March 2023.