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At the end of September 2001, the Colombian current account of the balance of payments
presented a US$1.3 billion deficit, (2.2% of the GDP accumulated to September, 2001), in
contrast with the surplus obtained of US$172 m in equal period of 2000. This situation was
due to the decrease of the trade balance that diminished from US$1.8 billion between
January and September 2000 to US$401 million in 2001, and for the higher expenditures of
dividends and utilities (US$358 m). On the other hand, the capital account showed net
income of US$1.6 billion, US$1.4 billion higher than the received one in equal period of
2000. The positive net flows are explained by the long-term capital, which grew to US$3.4
billion, offsetting the short-term capital outflows, which reached US$1.8 billion. At
September 2001, international reserves stood at US$9.8 billion, equivalent to 9.4 months
of goods imports, 7.4 months of goods and services and 2.8 times the short-term external
debt balance.
BALANCE OF PAYMENTS 1/
(US$ millions)
| |
2000 pr |
2000 pr |
2000 pr |
2000 pr |
2000 pr |
2001 pr |
2001 pr |
2001 pr |
| I
Quarter |
II
Quarter |
III
Quarter |
IV
Quarter |
I
Quarter |
II
Quarter |
III
Quarter |
| I. CURRENT ACCOUNT |
-20 |
-42 |
234 |
183 |
355 |
-687 |
-433 |
-223 |
| Trade balance |
540 |
542 |
764 |
685 |
2,531 |
37 |
37 |
327 |
| Non-factorial services |
-269 |
-302 |
-315 |
-362 |
-1,248 |
-317 |
-346 |
-313 |
| Factorial income |
-721 |
-649 |
-590 |
-580 |
-2,540 |
-811 |
-753 |
-755 |
| Current transfers |
429 |
367 |
376 |
440 |
1,612 |
404 |
628 |
518 |
| II. CAPITAL AND FINANCIAL ACCOUNT |
80 |
33 |
67 |
374 |
554 |
883 |
482 |
233 |
| Long-term financial flows |
446 |
-90 |
827 |
940 |
2,123 |
1,122 |
1,983 |
332 |
| Net direct investment |
310 |
371 |
702 |
668 |
2,051 |
486 |
769 |
370 |
| External debt 2/ |
137 |
-461 |
125 |
272 |
72 |
636 |
1,213 |
-38 |
| Other long-term movements |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
| Short-term financial flows |
-366 |
123 |
-760 |
-566 |
-1,569 |
-239 |
-1,500 |
-99 |
| Portfolio investment |
-114 |
-304 |
-343 |
-236 |
-997 |
-412 |
-1,503 |
-557 |
| Other short-term movements 3/ |
-252 |
427 |
-417 |
-330 |
-573 |
174 |
3 |
458 |
| III. OTHERS |
155 |
111 |
15 |
-321 |
-40 |
114 |
14 |
148 |
IV. CHANGE IN NET
INTERNATIONAL RESERVES |
215 |
102 |
316 |
236 |
869 |
310 |
63 |
159 |
| V. CURRENT ACCOUNT / GDP (%) 4/ |
-0.1 |
-0.2 |
1.2 |
0.9 |
0.4 |
-3.4 |
-2.2 |
-1.1 |
Pr: Preliminar
1/ The statistics correspond to the new measurement of the Balance of Payments, according
to the Balance of Payments Methodology of the 5th Edition Internationa 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. |
