The country’s overall balance of payments position in January-July 2017 posted a deficit of US$1.38 billion, 263.2% lower than the US$0.85 billion surplus recorded in January-July 2016.
In Q1 2017, the balance of payments position yielded a deficit of US$994 million, higher than the US$210 million deficit recorded in Q1 2016. The country’s current account registered a deficit of US$318 million in Q1 2017 from a US$730 million surplus in Q1 2016, as the trade-in-goods deficit continued to widen. Moreover, the financial account recorded lower net outflows of US$579 million, a decline from US$955 million in Q1 2016.
The financial account posted net outflows of US$579 million in Q1 2017, 39.4% lower than the US$955 million net outflows in Q1 2016, resulting in net receipts in the capital account to decline to US$9 million from US$24 million in Q1 2016.