8/12/2019 Balance Payments Mei 2014

1/2

Statistic

Date:Jun

ThecurrThecurre

toanAfl.

goodsac

in2013,

decline in

thenon

thegood

in2013b

othergoo

Theinco

Afl.55.6

hotels.

Ffinanciali

Incontra

bytransa

millionsu

grosstou

Afl. 70.3

2211

1122

alNewsRele16,2014

ntaccountntaccounto

184.9millio

ountofthe

ue to thec

exportsof

ilsectorexp

andincome

ecauseofhi

ds.

eaccountd

millionrise i

rthermore,

nstrumentsi

t,theservic

ctionsofthe

rplus,i.e.,A

rismreceipts

million com

,500.0,000.0,500.0,000.0500.00.0

500.0,000.0,500.0,000.0,500.0

Goods

C

ease

ofthebalafthebalanc

nsurplus in

ilsectorfro

losureof the

oods,thant

andedbyAfl

accounts.Th

gher import

eficitwidene

dividendp

income

payncreasedby,

eaccountsu

nonoilsect

l.110.6milli

(7.1percent

ared to a y

2009

Services

NTRALE

nceofpayofpayment

2012 (Chart

anAfl.325.

refinery in

hatof impo

.42.1million

egoodsacco

paymentsrel

dbyAfl.92.

ymentsby

ents

on

dirrespectively,

rplusroseb

r.Theservic

n(6.3perc

).Additional

ear earlier.

2010

Chart1:Cu(In

Income

1

BANK V

entsrecorspostedan

1).Thisshift

4millionsur

March2012.

tsofgoods.

toAfl.86.9

untdeficitr

atedtomac

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omesticcor

ect

investmAfl.19.2mil

Afl.180.9

eaccountof

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ly,theservic

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20

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N ARUB

edanAfl.fl.458.9mi

wascaused

plusin2012

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millionin20

sebyAfl.83

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fl.291.0mil

orationsm

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loans

anlionandAfl.

illiontoAfl.

thenonoil

anin2012,l

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from an A

11

balance

ransfers

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mainlybya

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1,866.9milli

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2012

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57.3million

uted to a st

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vestment

r

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edanAfl.1,

ountofincr

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2013

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8/12/2019 Balance Payments Mei 2014

2/2

2

receipts,largelyowingtoitstransshipmentactivities.Also,theservicespaymentsfellbyAfl.49.6million

mainlybecauseofsubstantiallylowerimportrelatedfreightpayments.

ThecurrenttransfersaccountdeficitofthenonoilsectorfellbyAfl.22.7milliontoAfl.93.5million,due

partiallytohighercurrenttransfersreceiptsbythegovernment.Thesewererelatedtograntsreceived

fromthe

European

Development

Fund

associated

with

the

budget

support

towards

the

implementation

oftheNationalEducationPlan20072017.

ThecapitalandfinancialaccountturnedfromanAfl.174.3millionnetoutflowin2012intoanAfl.310.5

millionnetinflowin2013.Contributoryfactorstothisturnaroundweredirectinvestmentandportfolio

investmentrelatedtransactions.DirectinvestmentpostedanAfl.283.2millionnetinflowcomparedto

an Afl. 588.4 million net outflow in 2012. This shift resulted mainly from lower intercompany trade

creditrelatedtransactionsoftheoilsectorandhigherintercompanyloansreceivedbythenonoilsector

inparticularthehotels.Inaddition,theportfolioinvestmentregisteredanetinflowofAfl.116.8million,

which is Afl. 144.0 million lower than the preceding year. This drop was mainly caused by higher

payments on matured government bonds thatwere issued on the international capital market in the

years2003and2008andadvancepaymentsontheairportrevenuebondsduein2015issuedbyAruba

AirportAuthorityN.V.OtherinvestmentrecordedanAfl.95.6millionnetoutflowin2013,comparedto

anAfl.148.3millionnetinflowin2012,reflectingahugedropinthetradecreditrelatedtransactionsof

theoilsectorwithnotaffiliatedforeigncompanies.Incontrast,netoutflowofotherinvestmentofthe

nonoil sector shrank by 24.3 percent, compared to a year earlier, largely attributed to higher loans

received.

Overall,thebalanceofpaymentspostedanAfl.157.0milliondeficit in2013,comparedtoamereAfl.

1.6millionsurplusin2012(Chart2).Thisoutcomereflecteddecreasesinboththeofficialreservesand

thenetforeignassetsofthecommercialbankof,respectively, Afl.77.2millionandAfl.79.8million.A

netsale

of

Afl.

326.1

million

in

foreign

exchange

to

the

oil

sector

and

anet

purchase

of

Afl.

246.3

million

in foreign exchange from the nonoil sector contributed to the fall in the net foreign assets of the

commercialbanks.

200.0

100.0

0.0

100.0

200.0

300.0

2009 2010 2011 2012 2013

Chart2:Overallbalance(inAfl.million)