Current account deficit for 2022 reached $21.446 billion and represented 6.2% of GDP, significantly above historical averages.
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Current account deficit for 2022 reached $21.446 billion and represented 6.2% of GDP, significantly above historical averages.
The Current Account of the BoP includes the trade balance and the net dividend and interest payments abroad. A current account deficit implies that the country is a net debtor to the rest of the world. An econometric model is used to estimate the structural Current Account balance of Argentina and its long-term determinants
In contrast to the current account deficit of USD 4,238 million posted in 2019, this indicator showed a surplus of USD 26,571 million in 2020 as the trade balance on non-oil goods registered a much higher positive figure.
Associated with the change in fundamental saving and investment variables that the Colombian economy has undergone in the recent decade, the structural current account and exchange rate are estimated in light of these changes. Likewise, forecas…
In contrast to the current account deficit recorded in the third quarter of 2019, this indicator showed a surplus of USD 17.498 billion in the third quarter of 2020, mainly due to the much higher positive balance on non-oil goods.
Our forecasts indicate that the current account deficit will stabilize around 1.5% of GDP in the medium term and there will not be a structural problem for its financing.
May 29, 2020
GDP strongly contracted in the first quarter, reflecting the measures implemented since mid-March by the Government in order to contain the spread of the new coronavirus.
The current account deficit fell by USD 10.2 billion in the first quarter of 2020 compared to the same period of the previous year, mainly due to a higher surplus in the trade balance on non-oil goods.
Our forecast that the current account deficit will be 0.1% of GDP in 2019 suggests that the country is not vulnerable to external shocks and that even such deficit could be comfortably financed with NFDI and remittances.
Having stood at USD 20.1 billion in 2017, the current account deficit increased to USD 22.0 billion in 2018.
Considerable decrease in the current account deficit in the first quarter of 2019 compared to the same period of the previous year, mainly due to lower deficits in primary income and service balances.