Africa-Press – Angola. The country’s current account balance remained in surplus at 1.8% of gross domestic product (GDP) in the first quarter of this year, despite the downward trend compared to the same period last year.
The reduction in the balance of the goods account by 20.3%, compared to the previous quarter, influenced the behavior of the Current Account, according to external statistics published by the National Bank of Angola (BNA).
In the first quarter, the Current Account was USD 507.0 million against USD 356.7 million recorded in the fourth quarter of 2022.
In the period under review, revenues from exports fell by USD 1,668.7 million, notwithstanding the improvement in the deficit balances on service accounts, income and current transfers.
The Capital and Financial Account registered a deficit of USD 1,426.7 million, contrary to the surplus of USD 672.1 million recorded in the previous quarter.
This behavior is justified by the sharp worsening of the balance of medium and long-term capital, that is, the public external debt.
Meanwhile, the net position of international investment registered, in the first quarter of 2023, a slight worsening of its deficit in the order of USD 1 245.7 million, as a result of the reduction of the country’s financial assets over non-residents, despite having There was also a reduction in liabilities, but to a lesser extent.
Of the country’s main financial assets over non-residents, reserve assets stand out, the stock of which stood at USD 14,054.1 million at the end of the first quarter of 2022, against USD 14,660.6 million at the end of previous quarter, corresponding to a coverage of 6.8 months of imports of goods and services.
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