Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

Moody's raised Angola's rating from Caa1 to B3 last week and maintained a stable outlook;
Year-on-year inflation rose to 26.09% in August, the 5th consecutive month of increase and the highest value since October 2017;
In the first 8 months of the year, the volume of crude exported registered a year-on-year drop of 14%, at an average value of 1.13 million barrels per day;
According to INE data, exports of goods in Q2 2021 stood at USD 7.95Bn, an increase of 121% yoy;
On the import side, there was an increase of 33.3% in Q2 2021 to USD 2.7Bn;
As a result, the balance of trade in goods was positive by USD 5.2Bn in Q2 - this represents a year-on-year increase of USD 3.67Bn.

Best regards,
BFA

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