Current Account in Angola

Angola Current Account | Economic News & Forecasts

Angola - Current Account

The economy appears to have shrunk again in the third quarter. Oil production continued plummeting in Q3, which, coupled with falling average crude oil prices, boded ill for the country’s external sector. Meanwhile, available data leaves little room for optimism in Q4: Crude prices inched down in October–November compared to Q3, while domestic production remained depressed in the same period. That said, the authorities continue to show commitment to structural economic reforms. After floating the kwanza in October, the Central Bank relaxed restrictions on foreign exchange trading for companies and commercial banks. Consequently, on 6 December, the IMF approved a second tranche of the USD 247 million loan, praising efforts to diversify the economy and improve public finances. In other news, Parliament approved the state budget for 2020, which projects a 1.2% fiscal surplus.

Angola - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)6.0  -2.6  -8.8  -3.1  -0.5  

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Angola Current Account Chart

Angola Current Account
Note: Current account balance as % of GDP.
Source: Central Bank of Angola

Angola Facts

Exchange Rate479.00.0 %Jan 01
Stock Market0.10.0 %Jan 07

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