According to a note from the National Bank of Angola, relating to external statistics for the first three months, published Monday, the current account posted a surplus balance equivalent to 12.2 percent of GDP.
The BNA explains the improvement with the "increase of exports of goods, particularly crude oil, due to the recovery of the average price of Angolan crude and by the reduction of imports of goods and services".
The financial account, analyzed in terms of net change in financial assets and liabilities, showed a surplus of 1.236 billion dollars, justified by the increase in trade credits, currency and deposits, as well as reserve assets and direct investment.
The deficit in the net international investment position also decreased in the first three months of this year from - 32,612 million dollars to 32,222 million dollars as a result of the increase in financial assets (trade credits, deposits and international reserves) greater than the increase in liabilities.
The stock of gross international reserves (foreign exchange, gold and other financial instruments) increased slightly from 14,879 million dollars in the fourth quarter of 2020 to 14,977 million dollars between January and March 2021, allowing for 11.7 months of imports of goods and services.
