Current Account Balance: Angola

Analysis# Angola Current Account Balance Angola's current account balance stands at 0.5% of GDP in 2026, reflecting a dramatic reversal from its all-time peak of 31.1% in 1996. The metric has declined 37.5 percentage points since 1980, though the country avoided the severe deficit of -17.8% recorded in 1998. From a position of substantial external surplus during Angola's oil boom years, the economy has transitioned toward near-equilibrium in its external accounts. The period from 2017 to 2021 marked a notable recovery, with the current account swinging from -0.5% to a peak of 10%, driven by oil price rebounds and production adjustments. However, momentum has stalled since then, with the balance contracting sharply from 5.4% in 2024 to a projected 0.5% by 2026. This downward trajectory suggests Angola faces mounting external pressures, likely stemming from sustained global oil price volatility and structural economic challenges.