According to the report on the Balance of Payments and Position of Angola's International Investment in 2021, released by the National Bank of Angola (BNA), the 'stock' of Angolan investment abroad increased from 3,206 million dollars in 2020 to 2,153 million dollars last year, as a result of the sale of some assets abroad, specifically in Singapore.
The net position of international investment recorded an improvement in its deficit, valued at 24,222 million dollars, against 30,013 million dollars recorded in 2020, as a result of the increase in financial assets and the reduction of liabilities towards non-residents.
The 'stock' of international reserves increased by 629.6 million dollars, from 14,878.5 million dollars in 2020 to 15,508 million dollars in the following year, corresponding to a coverage of 9.9 months of imports of goods and services.
In 2021, the balance of payments recorded a surplus of around 134 million dollars, against a deficit of 3,365.5 million dollars in the previous year, while the net position of international investment reduced the deficit by around 5,790.6 million dollars.
"The current account showed a remarkable positive performance, registering in 2021 a surplus balance of 8,398.3 million dollars, equivalent to 12.4 percent of GDP [Gross Domestic Product], against a surplus of only 871.9 million dollars (1.6 percent of GDP) in 2020," the report adds.
The improvement in the current account balance is essentially justified by the increase in export revenues (goods account), as this balance increased from 11,394.3 million dollars in 2020 to 21,786.6 million dollars in 2021.
The considerable increase is mainly explained by the recovery in the average price of the main goods (raw materials) exported by Angola (crude oil, gas and diamonds).
The variation in the price of oil had a positive effect on the value of exports in the order of 122.4 percent, despite the behavior of quantities that had a negative effect of 38.7 percent.
Exports from the non-oil sector maintained a residual weight, and very dependent on the diamond sector, whose exports increased to 1,549.6 million dollars.
Exports of other products (coffee, fish, wood, cement, beverages and others), which accounted for just 0.6 percent of the total value, contracted by 31.7 percent, to stand at 193.5 million dollars.
China remained the leading destination for Angolan crude oil exports, with a share of around 71.4 percent, followed by India and Thailand with 7.1 percent, while the United Arab Emirates are the ones that import the most. Angolan diamonds (78.4 percent of the total value).
The value of imports of goods in 2021 amounted to 11,794.8 million dollars, representing an increase of 23.6 percent over the previous year, with emphasis on growth in the fuel category.
Angola's main trading partners in 2021, with regard to the origin of imports, were China (14.7 percent), Portugal (12.2 percent), India (6.3 percent), Togo (5, 8 percent) and Brazil (4.9 percent), making up 43.9 percent of the total value of imports.
The 'stock' of the total external debt stood at 65,910.6 million dollars in the period under analysis, representing an increase of around 1,261.7 million dollars.
In turn, the 'stock' of public external debt recorded a slight increase, reaching 51,261.3 million dollars, with China and Great Britain standing out as the main creditor countries of public debt, with around 68 percent of the total value. International organizations occupy the third position with a weight of 8.8 percent.