Balance Of Payments & International Investment
Minister for the Cabinet Office Wayne Furbert released the 2018 Q4 Balance of Payments & International Investment Position publication from the Department of Statistics.
The Minister explained, “Bermuda’s trade with non-residents resulted in a $233 million surplus for the fourth quarter of 2018. Bermuda’s stock of foreign assets at the end of the fourth quarter exceeded the stock of foreign liabilities by $2.571 million.”
Highlighted below are some key performance indicators:
- The deficit on the goods account increased by $41 million to $276 million.
- Services transactions realised a surplus of $116 million in the fourth quarter of 2018.
- The surplus on Bermuda’s primary income account grew to $430 million in the fourth quarter of 2018.
- The net international investment position decreased by $510 million over the third quarter of 2018.
The full report is below [PDF here]:
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It would be beneficial if Minister Furbert earned his paycheck by explaining in simple terms what the headline numbers mean. To announce the release with no other explanation seems to indicate he doesn’t understand their significance or can’t be bothered.
It probably means it is bad news – if it was good news it would not have been released on a sunday and there would have been a press conference
Downward spiral. Circling the drain. Fiscal cliff.
Take your pick.
You still in Bermuda? Don’t you want to go back home…oh I forgot it sucks more there!!
Funny how we always have someone complaining about life in Bermy ever blog but refuses to return home.
every every every every blog!
That’s not what you did when you selected Jetgate Craig to lead obaUBPeee. You pick from the top of the tree not the very bottom to be leader. 2 things you’re party is thinking about and working on.
1) How can we convince the surrogates to return.
2) If we win or lose what the best way to kick Craig out again.
No need. They now have $$$$$$$ worth of consultants to do that. PLP ministers aren’t available unless it’s a photo op or an orchestrated town hall.
We have a word – “Ingah”
Ingahdaeffinclue
“Bermuda’s stock of foreign assets at the end of the fourth quarter exceeded the stock of foreign liabilities by $2.571 million.”
Which is still not enough to cover our current (i.e. since 2004) debt, much less our total debt.