Current Account in Angola

Angola Current Account | Economic News & Forecasts

Angola - Current Account

The economy once again contracted in the first quarter of the year, following Q4 2018’s strong but short-lived rebound. The all-important oil sector led the overall contraction, although the decline in oil activity softened considerably from the previous quarter thanks to higher global crude oil prices. Adding to the stream of downbeat news, manufacturing production contracted sharply in Q1, while activity plummeted in the financial services, commercial and communications sectors. Turning to the second quarter, available data paints a bleak picture: Economic activity slumped in April–May, reflecting sustained contractions in both oil and non-oil activity, which weighed on both domestic demand and the external sector. Moreover, with domestic oil production and global crude prices falling further in June and July, growth dynamics likely remained lackluster at the beginning of the third quarter.

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 Rate362.70.0 %Sep 04
Stock Market0.10.0 %Sep 04

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