BOP position reverses

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    The BOP position for the first nine months of 2019 posted a surplus of $5.6 billion, a turnaround from the $5.1 billion deficit registered in the same period last year.

    This developed as a result mainly of the increased net inflows in the financial account and the decreased deficit in the current account.

    The current account in the first three quarters of 2019 posted a deficit of $992 million, 83 percent lower than the $5.8 billion deficit in the same period last year.

    This development emanated largely from the lower trade in goods deficit combined with higher net receipts in the trade in services, and in the primary and secondary income accounts.

    The capital account recorded increased net receipts of $49 million in the first nine months of 2019 from $44 million in the same period a year ago. This developed on account of the lower gross acquisition of non-produced nonfinancial assets of $2 million from $10 million last year.

    The financial account registered net inflows of $4.5 billion during the period January to September 2019, or up by 3 percent from the net inflows recorded in the same period in the previous year.

    This was mainly on account of the reversal in portfolio investment to net inflows from net outflows, which was partly tempered by lower net inflows in the direct and other investment accounts.