The Balance of Payments and International Investment Position Report for the second quarter 2022, published this Thursday by the National Bank of Angola (BNA), states that China leads the list of main trading partners with a share of 14.3 per cent.
After Portugal (11.6 percent), the Republic of Korea follows with 10.3 percent, the Netherlands with 10.1 percent and India with 8.0 percent, making up 54.3 percent of the total. total value of imports from Angola.
The United States of America (USA), France and Italy highlighted the origin of foreign direct investment in the oil sector in the period.
As for the non-oil sector, the highlight goes to South Africa, Belarus, Portugal and China.
According to the report, Angola's Balance of Payments current account maintained a surplus of around 3.5 billion dollars, equivalent to 10.8 percent of GDP (Gross Domestic Product), recording a "decrease of 26.7 percent" compared to the previous quarter.
"The decline in the current account was driven by the increase in imports of goods and services, as well as the worsening of the deficit in income and current transfers, despite the increase in exports of goods, but at a much lower magnitude", reads the document.
The balance of payments reports that the surplus on the goods account registered a "slight increase" of 2.0 percent, going from 8.9 billion dollars in the first quarter to 9.1 billion dollars in the second quarter of this year.
The increase in the balance of the goods account was due to "the growth of expenditure on imports of goods in a proportion greater than that of export earnings".
The value of imports of goods in the second quarter of 2022 was 4.5 billion dollars against 3.7 billion dollars in the previous quarter, thus representing a growth of 21.8 percent.
In all categories of goods, with emphasis on fuels and machinery, mechanical and electronic appliances, there was an increase in imports.
"The majority of current consumption goods continue to be imported, with a weight of 67.6 percent of the total value, followed by capital goods with 22.5 percent and intermediate consumption goods with only 10.0 percent." cent", refers in the report.
As for other capital, they recorded a reduction in their deficit of around 21.3 percent, to 2.3 billion dollars, against 2.9 billion dollars in the first quarter.
The result of this account "was influenced by the increase in commercial credits granted to non-residents, given the increase in the average price of crude oil".
Angola's balance of payments ended the quarter with a loss of reserve assets of 286.3 million dollars against a loss of 276.2 million dollars in the first quarter.
The BNA also mentions that the balance of payments presented negative errors and omissions in the period under analysis estimated at 753.7 million dollars, equivalent to 2.3 percent of GDP.
