12 °c
London
Saturday, September 23, 2023
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Angola: Trade balance hits surplus – Standard Bank

FurtherAfrica by FurtherAfrica
August 21, 2018
in Africa, Angola, Banking, Capital Market, Credit Rating, Development, Economy, Finance, Government, Import, Industry and Commerce, Inflation, Oil, Privatisation, Trade
Reading Time: 1 min read
914 69
0
Understanding: Angola’s new investment law
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Standard Bank considered that Angola’s trade balance “is close to reaching a surplus”, due to oil prices above US $ 70 and the reduction of imports in recent years.

“With oil prices above $ 70 a barrel and the demand for imports depressed by the recession of the last two years, the trade balance is close to switching to a surplus,” reads an analysis note published Friday by the Economic Department of Standard Bank.

According to the document, sent to investors, analysts expect the National Reserve Bank of Angola (BNA) “to continue to devalue the Kwanza,” but add that it is difficult to estimate how far it will continue to do so, “it being evident that there is a lot of demand for foreign currency yet to be satisfied”.

This demand “remains the biggest complication for the structural adjustment process needed for the economy,” Standard Bank analysts say.

The BNA governor recently admitted that the option for a floating exchange rate regime “is not just good news,” but “it also requires some sacrifices, both at the corporate level and at the personal level.”

In 2017, Angolan exports fell 24 percent to US $ 14 billion compared to 2016.

In this period, the trade balance was a deficit and the country had a negative balance of US $ 386.7 million.

According to a report by the General Tax Administration (AGT), quoted by the newspaper Expansão in its 13th edition, there is a fall in exports of non-oil products.

In the period under review, according to the aforementioned newspaper, imports increased by 2.3 percent, representing an increase of US $ 326.1 million over the previous year.

Source: Angop

Related

Tags: AGTAngolaAngola Central BankBanco Nacional de AngolabarrelBNABNA governorEconomic Department of Standard BankGeneral tax AdministrationkwanzaNational Reserve Bank of Angolaoil pricesStandard Banktrade balanceанголаأنغولاアンゴラ安哥拉
ScanSendShare393Tweet246Share69Pin88Send
FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

Weekend

Top 5 islands in Kenya you must visit

by See Africa Today
September 23, 2023
Weekend

6 stunning beaches in Egypt to visit in 2023

by See Africa Today
September 23, 2023
The Forbes Billionaires’ list: Africa’s richest people 2022
Development

Opportunity through adversity: 8th annual Africa risk-reward index

by Rafael Carvalho
September 23, 2023
Tech

Elon Musk’s Starlink is off to a bright start in Africa

by The Exchange
September 22, 2023
Africa

Nigeria’s smart city dream gets US$200M boost from Afreximbank

by The Exchange
September 22, 2023
Mozambique eVisa
 
MozParks

Translate this page

Read the Latest

Weekend

Top 5 islands in Kenya you must visit

by See Africa Today
September 23, 2023
0

Kenya is a small paradise teeming with beautiful landscapes, rich culture and breathtaking sceneries, not forgetting some of the best...

Read more

6 stunning beaches in Egypt to visit in 2023

September 23, 2023
The Forbes Billionaires’ list: Africa’s richest people 2022

Opportunity through adversity: 8th annual Africa risk-reward index

September 23, 2023

Elon Musk’s Starlink is off to a bright start in Africa

September 22, 2023

Nigeria’s smart city dream gets US$200M boost from Afreximbank

September 22, 2023

FurtherAfrica Partners Network

The Exchange Farmers Review Africa 360 Mozambique
TechGist Africa Energy Capital & Power Club of Mozambique
Taarifa Rwanda Web3Africa See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
O Económico Digilogic Africa  

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 107.3K other subscribers
FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?