Africa-Press – Angola. The Angolan current account recorded a surplus balance of 4.2 billion US dollars (one dollar is worth Kz 828,522), equivalent to 4.5% of gross domestic product (GDP) in 2023, representing a contraction of 64.2% compared to the previous year.
Despite the surplus (surplus) recorded last year, the decrease in exports of goods, especially crude oil, resulting from the fall in the price of Angolan raw materials by 20.2%, contributed to the unfavorable performance of the current account, according to a note from Information from External Statistics – 2023 published on the Banco Nacional Angola (BNA) website.
The Central Bank says that there was also a decrease in imports of goods and services (17.1%), the deficit in primary income (1.2%) and secondary income (55.8%).
In turn, the capital and financial account recorded a reduction in its deficit by 49.0%, going from USD 7,846.2 million in 2022 to USD 3,998.5 million in 2023, justified mainly by the behavior of capital medium and long term and foreign direct investment flows.
According to the document, the net position of international investment recorded, in 2023, a reduction in its deficit by USD 1,238.9 million, as a result of the reduction in liabilities with non-residents, despite the reduction in assets.
The BNA says that of the main financial assets that the country holds, reserve assets stand out, the stock of which stood at USD 14,733.4 million at the end of 2023, equivalent to around 8 months of imports of goods and services , against USD 14,660.6 million in 2022.
For More News And Analysis About Angola Follow Africa-Press
