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 3,683

millions

0.1%

 

USD 6,159

 

Economic Statistics (years 2016 - forecast 2021)

National Accounts 2016 2017 2018 2019 f.2020 f.2021
             
GDP growth (%) -5.6% 1.7% 2.0% 2.2% -4.9% 4.9%
Nominal GDP (USD millions) 3,166 3,069 3,427 3,683 3,519 3,719
GDP per Head (USD) 5,499 5,260 5,799 6,159 5,874 6,100
Inflation (%) 52.4% 9.3% 5.4% 4.2% 49.4% 6.7%
Fiscal Balance (% GDP) -9.1% -8.8% -7.1% -8.5% -8.9% -9.9%
General Govt. gross debt (% GDP) 78.5% 77.2% 69.6% 72.0% 79.7% 85.3%
   

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) 2016 2017 2018 2019 f.2020 f.2021
             
Exports of Goods 2,259 3,090 3,217 3,248 2,959 3,023
Exports growth (%) -15.5% 36.8% 4.1% 1.0% -8.9% 2.2%
Imports of Goods 2,074 2,121 2,432 2,599 2,337 2,409
Imports growth (%) -34.7% 2.3% 14.7% 6.8% -10.1% 3.1%
Foreign Trade (% GDP) 137% 170% 165% 159% 150% 146%
             
Current Account Balance 0 0 0 0 0 0
% GDP 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Foreign Direct Investment 225 102 114 140 70 74
% GDP 7.1% 3.3% 3.3% 3.8% 2.0% 2.0%
   

 

Disclaimer

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

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