Balance of payments
During the first quarter of 2001, the Colombian current account of the balance of
payments presented a US$736 million deficit, (3.6% of quarterly GDP), higher in US$713
than that figures for the same period of the preceding year. This result was due to the
commercial surplus reduction from US$542 million in 2000 to US$33 million in 2001 and by
the higher earning and profits expenditures (US$157 million). On the other hand, the
capital account presented net income of US$619 million, US$418 million higher than in the
same period of the year 2000. This net inflow behavior is explained by the long-term net
capital flows, which presented a US$909 million increase in contrast with the short-term
capital outflows, which amounted to US$290 million. At the end of the first quarter of
2001, international reserves reached US$9.3 billion, equivalent to 9.1 months of goods
import, 7.2 months of goods and services imports, and 2.7 times the short-term external
debt balance.
BALANCE OF
PAYMENTS 1/
(US$ millions)
| |
1999 p |
2000 pr
I quarter |
2000 pr
II quarter |
2000 pr
III quarter |
2000 pr
IV quarter |
2000 pr |
2001 pr
I quarter |
| I. CURRENT ACCOUNT |
98.3
|
-23.7
|
-25.9
|
57.8
|
32.7
|
40.8
|
-736.4
|
| Trade balance |
1775.1
|
542.1
|
545.1
|
766.7
|
689.0
|
2542.9
|
32.9
|
| Non-factorial services |
-1268.7
|
-277.0
|
-307.7
|
-321.1
|
-369.1
|
-1274.9
|
-321.8
|
| Factorial income |
-1460.1
|
-605.2
|
-558.2
|
-707.0
|
-608.8
|
-2479.3
|
-769.2
|
| Current transfers |
1052.0
|
316.4
|
294.9
|
319.2
|
321.6
|
1252.1
|
321.7
|
| II. CAPITAL AND FINANCIAL ACCOUNT |
16.9
|
201.0
|
89.2
|
184.7
|
682.1
|
1157.0
|
618.6
|
| Long-term financial flows |
2261.9
|
533.9
|
-110.4
|
923.1
|
765.6
|
2112.2
|
909.0
|
| Net direct investment |
1210.4
|
326.1
|
421.8
|
846.2
|
715.4
|
2309.4
|
368.9
|
| External debt 2/ |
1051.6
|
207.9
|
-532.1
|
76.8
|
50.2
|
-197.3
|
540.2
|
| Other long-term movements |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
| Short-term financial flows |
-2245.0
|
-332.9
|
199.5
|
-738.3
|
-83.5
|
-955.2
|
-290.4
|
| Portfolio investment |
-1442.5
|
-85.2
|
-305.5
|
-342.5
|
-244.7
|
-978.0
|
-435.8
|
| Other short-term movements 3/ |
-802.5
|
-247.7
|
505.0
|
-395.8
|
161.3
|
22.7
|
145.4
|
| III. OTHERS |
-435.7
|
37.9
|
38.4
|
73.5
|
-478.6
|
-328.8
|
428.2
|
IV. CHANGE IN NET
INTERNATIONAL RESERVES |
-320.4
|
215.1
|
101.6
|
316.0
|
236.2
|
869.0
|
310.5
|
| V. CURRENT ACCOUNT / GDP (%) 4/ |
0.1
|
-0.1
|
-0.1
|
0.3
|
0.2
|
0.0
|
-3.6
|
|
Pr: Preliminar p:
Provisional.
1/ The statistics correspond to the new measurement of the Balance of
Payments, according to the Balance of Payments Methodology of the 5th Edition
International
Monetary Fund Balance of Payments Manual .
2/ Includes loans, commercial credit, leases and bonds.
3/ Includes
loans and commercial credit.
4/ This indicator is published by DANE and calculated according to the quarterly
nominal GDP in pesos.
Source: Banco de la República, Economic Studies. |
