Angola reports credit growth and rising international reserves

Angola's economic indicators show significant movement in credit and reserves. According to the National Bank of Angola (BNA), gross credit to the real sector reached 2.1 trillion kwanzas in July, marking a 46.6% increase compared to the same period in 2024. This growth was primarily driven by the manufacturing industry, which accounted for 53.1% of the total variation in credit. The extractive industry and agriculture also received substantial financing, with manufacturing holding 44.1% of the total credit stock for the real sector.

In the second quarter of 2026, Angola's international reserves reached approximately $14.9 billion, providing enough coverage for 6.7 months of imports of goods and services. The country's current account also saw improvement, recording a surplus of over $2 billion, representing 4.4% of the GDP. This surplus was largely driven by a 31.7% increase in the goods account surplus, despite rising deficits in services and primary income accounts.