Balance Of Payments & International Investment
Today [June 26] the Minister for the Cabinet Office Wayne Furbert released the 2019 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 $184 million surplus for the fourth quarter of 2019. Bermuda’s stock of foreign assets at the end of the fourth quarter exceeded the stock of foreign liabilities by $3,327 million.”
Other performance indicators include:
- The deficit on the goods account decreased by $14 million to $263 million.
- Services transactions realised a surplus of $103 million in the fourth quarter of 2019.
- The surplus on Bermuda’s primary income account fell to $386 million in the fourth quarter of 2019.
- The net international investment position increased by $903 million over the third quarter of 2019.
The full report is below [PDF here]:
Thank you, Minister, for explaining last year’s spending in Bermuda.
Now please explain how that us relevant to Bermuda’s economy today.
Interesting that the current account surplus is approximately what Government are trying to force the BPSU into accepting as a pay cut. Why not just use that surplus instead of raiding employee’s pension pots?