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COLOMBIA. Balance of Payment. Table and chart together with brief description preferred. Do NOT copy and...

  1. COLOMBIA. Balance of Payment. Table and chart together with brief description preferred. Do NOT copy and paste. (30 points)

1) Find the most recent year BOP statistics: (20 points)

  1. Current account:

Goods import, export and balance,

Service import, export, and balance,

Total current account balance.

    1. Capital account balance and financial account balance.
    2. Official Reserves.
  1. The most recent 10-year BOP situation on: (10 points)

Current account and,

Combined current, capital account and financial account.

need sources

Solutions

Expert Solution

COLOMBIA's Current Account Statistics is being updated every quarter year.

Current Account :

1. Colombia recorded a Current Account deficit of 1693 USD Million in the second quarter of 2020. The first quarter deficit was 2547 USD Million.

Total Import during the last quarter is 3.65 USD Billion.

Total Export during the last quarter is 2.57 USD Billion.

Services Export is 9,57,24,65,244.50 USD in BOP.

Services Import is 13,33,82,03,646 USD in BOP.

Export of Goods and Services is 15.93% on the basis of GDP percentage.

Import of Goods and Services is 20.83% on the basis of GDP percentage.

The Current Account Balance is -1693 USD Million and the Current Account to GDP is -4.30%.

The Capital and Financial Account Balance in the second quarter of 2020 is -2278.72 USD Million. It faced a deficit balance. The previous quarter deficit was 2378.35 USD Million.

2. Official Reserves :

The Current Account Balance on Goods & Services was reported at -992.54 USD mn in Jan 2020.

The current account balance on goods & services were lowered during Mar 2020 by -795.11 USD mn.

Current Account's highest record during the last 10 years was -316.55 USD mn in June 2000.

Current Account's lowest record during the last 10 years was -2.040 USD mn in Dec 2014.

The Capital and Financial account is -2278.72 USD Million in second quarter of 2020. The previous quarter was -2378.35 USD Million.

The highest record was made by capital and financial account in Jan 2019 is -3568.191 USD Million.

The capital and financial account has a lowest record of -1598.45 USD Million in Jan 2018.

Reference:

1. http://tradingeconomics.com/colombia

2. www.ceicdata.com

3. data.worldbank.org


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