Current Account in Angola
Angola - Current AccountAvailable data suggests that the economy got off to a solid start in Q4. In October, prices for Cabinda oil jumped over 100% year-on-year, reaching a seven-year high, benefiting from firming global economic activity. This, coupled with a pickup in oil output in the same month, bodes well for government finances. Less positively, price pressures are expected to have remained elevated in October, likely offsetting the supportive effect of an appreciating kwanza on household spending. This follows a seemingly mixed third quarter, during which oil output eased, but prices rose on average, and inflation continued to rise. Meanwhile, parliament approved the 2022 draft budget on 9 November. The plan foresees a balanced budget, with significant spending geared towards the social sector. It is underpinned by a conservative oil price assumption, suggesting the government should be able to achieve its target.
Angola - Current Account Data
|Current Account (% of GDP)||-8.8||-3.1||-0.5||6.9||6.1|
5 years of economic forecasts for more than 30 economic indicators.
Angola Current Account Chart
Source: Central Bank of Angola
|Exchange Rate||479.0||0.0 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 07|
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November 17, 2021
Consumer prices increased 2.16% over the previous month in October, a smaller increase than the 2.34% increase recorded in September.
November 11, 2021
The average price of Cabinda oil came in at USD 83.6 per barrel (pb) in October.
October 13, 2021
Cabinda oil prices came in at USD 74.5 per barrel (pb) on average in September, up from USD 70.9 pb in August.
October 12, 2021
Luanda-province consumer prices rose 2.34% in September over the previous month, largely in line with the 2.30% rise logged in August.
October 11, 2021
The economy returned to growth in the second quarter for the first time since Q2 2019, with GDP expanding 1.2% year-on-year and swinging from the first quarter’s 3.4% contraction.