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The
Central Bank (BCV, Banco Central de Venezuela) reports:
At the closing of the third quarter of this year, the current account in
the balance of payments registered a surplus of US$ 3.8 billion, while the capital and
financial account exhibited a deficit estimated at US$ 2.8 billion.
The current account surplus was significantly above the balance observed
in the same quarter last year (US$ 717 million), due to the strengthening
trade balance for goods, which widened as a result of 17.5% growth in
total exports and a 35.4% contraction in imports.
The improved export performance was attributed to a 16.6% increase in
international oil prices and a sustained rise in the volume of exports
from the non-oil producing public enterprises, in particular chemical and
basic metals producers. Even though non-oil private sector exports
registered a slight drop of 3.5%, mining and automobile sector sales rose
notably.
With regard to imports, the contraction experienced in the third quarter
can be attributed to the continued downturn in real economic activity as
well as lower levels of consumption and investment.
More detailed information
available at the Banco Central
de Venezuela (BCV).
Forecasts: This indicator is covered in the
LatinFocus Consensus Forecast. For 5-year projections, including quarterly forecasts for
the next two years, please click here
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