Current Account in Angola

Angola Current Account | Economic News & Forecasts

Angola - Current Account

The economy appears to have remained stuck in recession in the final quarter of 2018, following a disappointing third-quarter outturn which had marked the fourth consecutive quarter of contraction. The country’s all-important oil sector continued to disappoint in Q4: Falling global oil prices wiped off any gains stemming from marginally higher oil production compared to the previous quarter. On top of that, the index of economic activity continued to deteriorate in Q4, pointing to the second largest contraction in nearly three years in November, chiefly due to the poor performance of the oil industry. In a similar fashion, external sector metrics appeared no more upbeat, with exports contracting in November on the back of lower energy shipments. Meanwhile, after securing a deal with the IMF in December, Angola is poised to re-enter international bond markets in the coming months, with a 10-year bond reportedly in the works. This could prove challenging, however, as S&P Global Ratings revised Angola’s outlook from stable to negative on 8 February.

Angola - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)6.0  -2.6  -8.9  -3.0  -     

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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 Rate313.70.0 %Mar 11
Stock Market0.10.0 %Mar 08

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