October 2016 Balance of Payments Report (Central Bank)

Travel revenues declined

The Central Bank published the Balance of Payments Report for October 2016. Net revenues from the travel item under the services balance decreased by 630 million dollars (27%) compared to the same month of the previous year, falling to 1 billion 693 million dollars.

According to the data announced, the current account deficit increased by 1 billion 332 million dollars compared to October of the previous year, coming in at 1 billion 675 million dollars. As a result, the 12-month current account deficit reached 33 billion 773 million dollars.

The foreign trade deficit in the balance of payments table rising by 333 million dollars compared to the same month of the previous year to 2 billion 804 million dollars, the services balance surplus declining by 916 million dollars to 1 billion 793 million dollars, and the primary income balance deficit increasing by 137 million dollars to 771 million dollars were all influential in the current account posting a deficit.

While net exports of 478 million dollars were recorded in the non-monetary gold item in October of the previous year, net imports of 210 million dollars were recorded in the same month of this year.

  Click to download the Balance of Payments Report.