General Information

In addition to export sales of pearls and precious metals (67%), the other commodities (copper, wood, iron) represent 23% of exports.
(Source: Central Bank, Trademap)

Gross Domestic Product (GDP) % of regional GDP GDP per head

USD 3,427

millions

0.1%

 

USD 5,799

 

Economic Statistics (years 2015 - forecast 2020)

National Accounts 2015 2016 2017 2018 f.2019 f.2020
             
GDP growth (%) -3.4% -5.6% 1.7% 2.0% 2.2% 2.5%
Nominal GDP (USD millions) 4,787 3,166 3,069 3,427 3,683 3,919
GDP per Head (USD) 8,439 5,499 5,260 5,799 6,159 6,474
Inflation (%) 25.1% 52.4% 9.3% 5.4% 5.3% 5.4%
Fiscal Balance (% GDP) -9.4% -8.1% -8.0% -7.4% -8.6% -8.2%
General Govt. gross debt (% GDP) 43.4% 78.5% 77.2% 69.6% 72.0% 75.7%
   

Trade Statistics

Foreign Trade - Composition        
           
Exports     Imports    
           
By countries     By countries  
United Arab Emirates 26.1%   US   26.7%
Canada 18.6%   Trinidad and Tobago 25.4%
European Union 13.6%   European Union 20.3%
US 11.2%   China   6.5%
           
By products     By products  
Precious stones or metals 61.8%   Manufactures 61.9%
Mineral products 14.7%   Fuels and mining prod. 22.7%
Chemicals industries 14.4%   Agricultural products 14.8%
Agricultural products 3.2%        

 

   
Balance of Payments (USD millions) 2015 2016 2017 2018 f.2019 f.2020
             
Exports of Goods 1,652 1,396 1,910 1,988 2,007 2,050
Exports growth (%) -9.4% -15.5% 36.8% 4.1% 1.0% 2.2%
Imports of Goods 2,028 1,324 1,354 1,552 1,659 1,710
Imports growth (%) 16.3% -34.7% 2.3% 14.7% 6.8% 3.1%
Foreign Trade (% GDP) 77% 86% 106% 64% 100% 96%
             
Current Account Balance -786 -170 -2 -98 -141 -127
% GDP -16.4% -5.4% -0.1% -2.9% -3.8% -3.2%
Foreign Direct Investment 276 225 102 114 140 160
% GDP 5.8% 7.1% 3.3% 3.3% 3.8% 4.1%
   

 

Disclaimer

This presentation has been prepared by Banco Latinoamericano de Comercio Exterior, S.A. (“BLADEX”) for information purposes only.

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