The current account deficit was the result of credits for 179.405 billion dollars and debits for 184.910 billion dollars.
As a proportion of GDP, in the third quarter of 2022 the current account deficit stood at 1.6%, higher than the deficit of 1.4% of GDP recorded in the same period of 2021.
Current Account Balance
The negative current account balance in the July-September 2022 period derived from the combination of a deficit in the balance of goods and services of US$16.559 billion, a deficit in the balance of primary income of US$4.305 billion, and a surplus in the balance of secondary income of US$15.359 billion.
The balance of goods and services deficit of US$16.559 billion recorded in the third quarter of 2022 was derived from negative balances of US$12.391 billion in the balance of goods and US$4.168 billion in the balance of services.
Within the balance of goods, there were deficits of 12,353 million dollars in the balance of merchandise and 38 million dollars in the balance of goods acquired in ports by means of transportation.
Current Account of the Balance of Payments (Millions of dollars).
In turn, the merchandise balance deficit of US$12,353 million originated from exports of US$149,513 million and imports of US$161,866 million.
On the other hand, the negative balance of US$4,168 million in the services balance was the result of credits of US$8,684 million and debits of US$12,852 million.
In the third quarter of 2022, the primary income balance presented a deficit of 4,305 million dollars, which reflected credits of 5,412 million dollars and debits of 9,717 million dollars.
The secondary income balance showed a surplus of 15,359 million dollars, as a result of credits of 15,643 million dollars and debits of 284 million dollars.
Within this balance, remittance credits totaled 15.462 billion dollars (annual growth of 12.8 percent), while remittance debits reached 267 million dollars (annual reduction of 9.6 percent).