Key facts
- Angola's trade surplus narrowed to AOA 2.04 trillion in April.
- The surplus increased by 76.9% year-over-year.
- Favorable oil market conditions supported the external position.
- Hydrocarbons continue to be the dominant export category.
- Elevated oil prices are expected to sustain foreign exchange inflows.
Angola's trade surplus saw a month-over-month decrease, reaching AOA 2.04 trillion in April. Despite this monthly contraction, the surplus recorded a significant 76.9% increase when compared to the same period last year. This year-over-year growth is largely attributed to the country's strong external position, bolstered by favorable conditions in the oil market. Hydrocarbons continue to represent the largest share of Angola's exports, a situation that highlights the nation's ongoing vulnerability to external market dynamics. Analysts anticipate that elevated oil prices will likely continue to support foreign exchange inflows into the country. However, there is a projection that the current trade momentum may moderate further in the near future.