عربي
Palestinian Central Bureau of Statistics (PCBS) and Palestine Monetary Authority (PMA) announce the preliminary results of the Palestinian Balance of Payments – Third Quarter 2013.
The Deficit in Current Account is USD 298.9 Million .
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. BoP consists of two main accounts, the Current Account and the Capital and Financial Account.
The main findings of the preliminary results of BoP for the third quarter of 2013 are including:
The incessant deficit of the Current Account amounted to USD 298.9 million (9.8% of the GDP at current prices for the 3rd quarter of 2013) with a dramatic decrease amounted to USD 296.8 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 1,244.6 million (41.0% of the GDP at current prices) with an increase of 1.4% compared to the previous quarter.
The deficit in Services Balance amounted to USD 100.3 million with an increase of 0.5% compared to previous quarter. This increase was caused by the slight increase in imports of transportation services in addition to the decrease in exports of services in general.
The surplus in Income Balance (compensations of employees and investments income) amounted to USD 340.8 million with an increase of 9.8% compared to the previous quarter, this surplus was due to the Compensations of Employees working in Israel that reached USD 316.1 million. While, the received investments income amounted to USD 33.9 million was mainly caused by the interest received on the Palestinian deposits in banks abroad in addition to the portfolio investment income from abroad.
According to the Current Transfers, the surplus value amounted to USD 705.2 million with a dramatic increase of 67.7% compared to the previous quarter. The donors’ current transfers was 61.2% of total value of receipts from abroad.
The surplus value of Capital and Financial Account amounted to USD 235.7 million was mainly caused by the surplus in Financial Account amounted to USD 176.0 million.
The changes on Reserve Assets (decreased) amounted to USD 32.8 million at PMA.