عربي
Results announcement
Palestinian Balance of Payments – Second Quarter 2014
The Deficit in Current Account is USD 614.6 Million
Palestinian Central Bureau of Statistics (PCBS) and Palestine Monetary Authority (PMA) announced the preliminary results of the Palestinian Balance of Payments (Second Quarter 2014) within the continuous efforts between PMA and PCBS.
The main findings of the preliminary results of BoP for the second quarter of 2014 are including:
The incessant deficit of the Current Account amounted to USD 614.6 million (16.6 % of the GDP at current prices for the 2nd quarter of 2014) with an increase of 35.2% compared to the previous quarter. The deficit of Current Account was caused mainly by the deficit in the Trade Balance of goods which was USD 1,540.7 million (41.7% of the GDP at current prices) with an increase of 15.1% compared to the previous quarter.
The deficit in Services Balance amounted to USD 88.1 million with an a decrease of 11.5% compared to previous quarter. This decrease was caused by the increase of the export of travel services.
The surplus in Income Balance (compensations of employees and investments income) amounted to USD 401.9 million with an increase of 2.7% compared to the previous quarter, this surplus was due to a surplus in Compensations of Employees working in Israel that reached USD 376.4 million. While, the received investments income amounted to USD 37.4 million was mainly caused by the income and interest received on the Palestinian investments and deposits in banks abroad.
According to the Current Transfers, the surplus value amounted to USD 612.3 million with an increase of 3.4% compared to the previous quarter. This was due to the increase of the donors transfers to the governmental sector (28.3% of total transfers from abroad, while the transfers to other sectors was 71.7%). The donors current transfers was 35.6% of total value of receipts from abroad, while the transfers from other non-donors parties was 64.4%.
The surplus value of Capital and Financial Account amounted to USD 452.6 million was mainly caused by the surplus in Financial Account amounted to USD 372.3 million, while the changes on Reserve Assets flow (decreased) amounted to USD 38.4 million at PMA.
The Balance of Payments (BOP) is an account measuring transactions between residents and non-residents in a given period. It is considered to be the peak of efforts in preparing systematic economic statistics that are necessary for observing economic performance in general and for deriving essential data used in compiling the Rest of the World Account as part of the Palestinian National Accounts.