Angola's Current Account Balance in Surplus, Tends to Decrease

4 June 2023
Angola Press Agency (Luanda)

Luanda — Angola's Current Account balance surplused by 1.8 percent of the Gross Domestic Product (GDP) in the first quarter of this year, despite the downward trend and compared to the same period last year.

The reduction in the balance of the goods account by 20.3 percent, in relation to the previous quarter, influenced the behaviour of the Current Account, says the external statistics published by the National Bank of Angola (BNA), to which ANGOP has had access.

The first quarter of the current account recorded 507.0 million US dollars against the 356.7 million US dollars recorded in the fourth quarter of 2022.

During the period in question, export revenues fell by USD 1.6 million, despite improvement in the deficit balances of the services, income and current transfers accounts.

The Capital and Financial Account registered a 1. 4 million US dollars deficit, contrary to the 672.1 million US dollars surplus registered in the previous quarter.

This behaviour is justified by the worsening of the balance of the external public debt.

Meanwhile, the net international investment position registered in the first quarter of 2023, there was a slight worsening of its deficit in the order of 1.2 million US dollars. NE/Amp/jmc

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