monthly statistical bulletin · 2012. 10. 19. · monthly statiscal bulletin advanced release...

Monthly Statistical Bulletin

August, 2012

Monthly Statiscal Bulletin Advanced Release Calendar August, 2012

Advanced Release Calendar

* Release dates can be specific date. The period (or date) to which data to be released relate is shown in parentheses.

Oct. 12 Nov. 12 Dec. 12 Jan. 13

Production and Prices

21

Quarterly Gross Domestic Product (III-Q-12)

26 28 21 28

Economic Activity Volumen Index (EAVI) (Aug.12) (Sep.12) (Oct.12) (Nov.12)

10 9 10 9

Industrial Production Volume Index (IPVI) (Aug.12) (Sep.12) (Oct.12) (Nov.12)

5 8 7 8

Consumer Prices Index (CPI) (Sep.12) (Oct.12) (Nov.12) (Dec.12)

31 30 21 31

Industrial Prices Index (IPI) (Sep.12) (Oct.12) (Nov.12) (Dec.12)

Fiscal Sector

31 30 21 31

Nonfinancial Public Sector Operations (Sep.12) (Oct.12) (Nov.12) (Dec.12)

31 30 21 31

Consolidated Central Government Operations (Sep.12) (Oct.12) (Nov.12) (Dec.12)

31 31

Central Government Debt (III-Q-12) (IV-Q-12)

Financial Sector

31 30 21 31

Analytical Accounts of the Financial System (Sep.12) (Oct.12) (Nov.12) (Dec.12)

5 7 7 7

Analytical Accounts of the Central Bank (Sep.12) (Oct.12) (Nov.12) (Dec.12)

External Sector

21

Balance of Payments (III-Q-12)

5 7 7 7

Net International Reserves (Sep.12) (Oct.12) (Nov.12) (Dec.12)

31 30 21 31

Foreign Currency Liquidity (Sep.12) (Oct.12) (Nov.12) (Dec.12)

26 26 21 25

Foreign Trade-Exports and Imports (Sep.12) (Oct.12) (Nov.12) (Dec.12)

21

International Investment Position (III-Q-12)

21

Total External Debt (III-Q-12)

Data CategoryPublication Dates*

Monthly Statistical Bulletin 1. Executive Summary August, 2012

The economic results to August 2012 include an increase in economic activity downward trend; the

external sector experienced a decline in its total exports, generated by lower sales of coffee, shrimp and

maquila. Public finances have lower deficits, associated in part to an increase in tax revenues. Meanwhile,

banks allocated more funds for the credit demand from the private sector and capture private sector

deposits shows a minimum growth.

Economic activity as measured by the Economic Activity Volume Index (EAVI) cyclical trend, in July

2012 showed a growth of 0.5% p.a., driven by Mines, Agriculture, Trade and Manufacturing. In its

moving average of the last twelve months, the EAVI reports a positive interannual rate of 1.6%.

Total exports in August 2012 recorded a decrease of 0.5% p.a., reflecting slower growth in traditional

exports showed a decrease of 19.6% p.a., where coffee and shrimp exports declined 35.2% and 8.4% p.a.,

respectively. Nontraditional assets experienced an increase in foreign demand of 5.2% p.a. Meanwhile,

imports showed an increase of 2.5% p.a., highlighting the increase in imports of intermediate and

consumer goods. Income from family remittances accumulated from January to August 2012 reached a

total of US$2,590.7 million, representing an annual growth of 7.0%.

The nonfinancial public sector reported a fiscal deficit of US$137.7 million. Total revenues grew 11.7%

annually, affecting a higher tax revenue collection in the concept of VAT, income tax and customs duties.

Total expenditures closed with an increase of 4.2% p.a., where the increase in current expenditure was

2.4% p.a. and accumulated public investment amounted to US$468.9 million, increasing by 17.0%

annually.

The financial system reported a growth in private resident sector credit of 6.9% p.a., where companies

increased their demand for funds by 8.3% annually. Total deposits reported a hesitant growth rate of 0.7%

p.a., where private deposits ended the month with a 0.4% annual growth.

Monthly Statistical Bulletin International Environment August, 2012

2.

1. ECLAC reported that the value of exports from Latin America will grow by 4% in 2012, while imports will

increase 3%. Estimates from the organization, regional foreign trade will deepen this year's slowdown in the

second semester of 2011. Among the factors discussed behind this behavior are: the current recession in the euro

zone, the economic sluggishness in the United States and Japan, and the moderate growth in China and other

emerging economies. These elements affect trade in the region, which in 2012 figures will show that on average

they are located about 20 percentage points below the growth rates recorded last year. On the one hand, it is

expected that Mexico and Central America may grow above the regional average (7.3% in exports and 5.0% of

imports), while South America will be lower (1.1% and 3.2%, respectively). The Caribbean, because of keeping

closer relations with Europe, would register drops in trade (-0.7% % in exports and -2.1 in imports).

2. The third estimate of quarterly GDP growth in the United States between April-June brought about a downward

revision from 1.7% to 1.3%, as announced by the Department of Commerce. At component-level performance

is less evident on the second estimate in personal consumption, investment in structures, both housing and

others, inventories grew less and exports were more negative. Moreover, consumer confidence, which fell in

August, rebounded in September to grow from 61.3 to 70.3. The indicator reached levels similar to those of

earlier this year (71.6 points in February 2012). The expectations subcomponent increased 12.6 points to stand

at 83.7 while the current situation did so in 3.7 to score 50.2 points. According to the Conference Board

respondents consider the current situation in the labor market is positive and anticipate better conditions– in the

economy, the labor market and their financial situation– in the short term.

3. OECD presented an interim report which highlights the weakening of global economic activity since the

summer as a result of developments in Europe and has spread to other economies through trade and because of

the loss of trust. The decline in consumer confidence has affected household demand and business investment

has decelerated. Among its projections, the agency estimates that Italy would end 2012 with its sixth

consecutive quarterly decline; the United Kingdom would go through its fourth consecutive fall in the third

quarter. Germany would experience a contraction in GDP in the last two quarters of the year.

Monthly Statistical Bulletin International Environment August, 2012

2.1 Graphics

Q1 Q2 Q3 Q4

United States 2.0 1.7 2.0 2.4

Japan 5.5 1.4 -2.3 0.0

Germany 2.0 1.1 -0.5 -0.8

France 0.1 -0.2 -0.4 0.2

Italy -3.3 -2.9 -2.9 -1.4

United Kingdom -1.3 -1.8 -0.7 0.2

Canada 1.8 1.8 1.3 1.9

G7 1.8 0.9 0.3 1.1

Euro 3 0.1 -0.3 -1.0 -0.7

Euro 3: Germany, France, Italy

Source: What is the near-term global economic outlook? OECD

OECD Outllook

Annualised quarter on quarter GDP growth rate

20

45

70

95

120

145

J08 M S J09 M O F10 J O M11 J N M12 J

Crude Oil Prices WTI, 2008-2012,US$ per Barrel

0.0

1.5

3.0

4.5

6.0

J07 M S J08 M S J09 M S J10 M S J11 M S J12 M S

International Interest Rates

Treasury Bill 6 M.

LIBOR 6 M.

% Monthly Average

-1.8

1.3

-3.7

-5.3

-0.3

1.4

4.0

2.3 2.2 2.6 2.4

0.1

2.5

1.3

4.1

2.01.3

-8-7-6-5-4-3-2-101234567

I II III IV I II III IV I II III IV I II III IV I II

2008 2009 2010 2011 2012

USA: Quarterly GDP Growth Rate

20

30

40

50

60

70

80

90

100

J08 M S J09 M S J10 M S J11 M S J12 M S

USA: Consumer Confidence IndexThe Conference Board, 2008-2012

Export. Import. Export. Import.

Region 23.3 21.7 4.0 3.0

Caribbean Countries 10.3 12.9 -0.7 -2.1

Argentina 23,2 30,9 -0,2 -3,7

Bolivia 31,1 42,2 16,2 -1,2

Brazil 26,8 24,5 -0,5 -0,1

Chile 14,6 28,0 -2,1 3,5

Colombia 43,0 34,4 7,0 10,3

Costa Rica 12,5 19,5 11,0 5,0

Ecuador 27,8 18,5 8,2 4,8

El Salvador 18,0 19,1 -2,2 -0,1

Guatemala 22,9 20,1 -0,3 3,5

Honduras 41,7 25,5 12,5 0,0

Mexico 17,1 16,4 7,4 5,3

Nicaragua 28,4 27,0 13,5 12,9

Panama 8,3 24,0 2,7 3,6

Paraguay 21,7 22,4 -3,2 -12,5

Peru 30,1 26,2 -7,9 7,8

Dominican Rep 26,4 11,5 6,1 -4,1

Uruguay 18,2 24,4 10,6 6,9

Venezuela 39,7 19,4 6,5 18,8

* 2012: projected

Source: Latin America and the Caribbean in the World Economy 2011-2012

ECLAC

Latin America and the Caribben: Goods and Services Trade

Growth Rates

2011 2012 *

Monthly Statistical Bulletin August, 2012

Real Sector 3.

1. Quarterly gross domestic product at constant prices showed an increase of 1.6% in the first quarter of 2012, similar to the 1.7% shown in the same period last year. The behavior of this indicator was driven by the positive performance of the following economic activities: Construction (3.2%), Government Services (2.8%), Community, Social, Personal and Domestic Services (2.6%), Transportation, Storage and Communications ( 2.2%), Real Estate and Services Rendered to Companies (2.0%), Electricity, Gas and Water (1.6%), Financial Institutions and Insurance (1.5%), Agriculture, Hunting, Forestry and Fishing (1.5%) Manufacturing and Mining (1.5%), Trade, Restaurants and Hotels (1.1%) and Housing Rentals (0.6%).

2. The Economic Activity Volume Index (EAVI) reported, in July 2012, an annual increase in cycle trend of 0.5%,

below the 3.3% figure for the same period last year. This is the result of the behavior of the following activities: mining and quarrying (8.0%), Community, Social and Personal Services (5.6%), agriculture, hunting, forestry and fishing (2.2%), Government Services (2.2% ); Trade, restaurants and hotels (1.4%), Manufacturing (0.9%); Banks, Insurance and other Financial Institutions (0.7%), real estate and services provided to companies (0.6%) and construction (0.1%). Moreover, the activities showing reductions were: Transportation, storage and communications (-4.9%) and Electricity, gas and water (-1.3%).

3. The interannual variation rate in the moving average of the last twelve months of the cyclical trend series in July

2012 showed an increase of 1.6%, lower than the 3.1% achieved in the same period last year. 4. The Consumer Price Index for August 2012, showed a monthly rise of 0.17%, bringing the annual inflation stood

at 0.10%, associated with lower prices in the market basket, among them: chayote, potato, orange, tomato, lemon, banana, movie, apple, onion, baby, banana, tuna, sport shoes, microwave oven, raw beans, stand monthly, which were offset by the higher price increases registered in: shark fillet, regular gasoline, diesel, avocado, premium gasoline, watermelon, cassava, creole (native) corn, melon, propane, French bread, mainly.

5. The annual CPI was 0.10%, determined by higher prices in the Divisions of Alcohol and Tobacco (5.8%),

transportation (2.59%), restaurants and hotels (2.4%), health (1.8%) and furniture, Home articles and those for routine household maintenance (1.7%). Meanwhile, Divisions such as Food and soft drinks; Housing, Water, Electricity, Gas and Other Fuels and Recreation and Culture, reported the largest price reductions in the year, -1.82%, -1.72% and -1.68% respectively.

6. The continuation of the upward trend in the prices of petroleum products is the main factor of the monthly increase

of 2.6% in industrial prices. The manufacture of chemicals and petroleum products during the month increased 6.0%, mainly because of higher prices in oil refineries by 9.5%, led by price increases in premium and regular gasoline (11.9% and 7.9%, respectively), diesel oil (8.8%) and propane (0.4%) and basic metals division had a monthly reduction mainly because of the variation of prices of aluminum profiles. In the case of textiles, the price reduction was observed in towels and cotton yarn. On a yearly basis, producer prices increased by 3.1%, mainly because of higher prices in the manufacture of chemicals and petroleum products, which increased by 5.0%. Excluding the impact of oil refineries, industrial prices observed monthly increases of 0.0% and 2.4% p.a.

7. The monthly change of Wholesale Prices Index to August 2012 was -0.1%, mainly because of reductions in the

price indices in the divisions of exported goods (-6.4%). On the other hand, prices of imported goods rose 1.9%, while goods produced and consumed locally increased only 0.5%. The division of exported products mainly shows a continued reduction in coffee prices. Conversely, the growth of prices of imported goods is largely explained by the increase in crude oil prices and fresh fruit. Also prices of products produced and consumed locally grew only 0.5%, of which prices of sugar cane, wheat flour and beans are experiencing major changes. In annual terms, the WPI fell 5.25%, showing that in terms of its components, the prices of exported goods recorded an annual growth of -10.58%, while the division of goods consumed and produced locally presented -7.38% annual change. By contrast, imports division showed an annual increase of 0.14%. Excluding the impact of coffee prices, the WPI showed monthly and annual variations of 0.98% and -3.86%, respectively.


Real Sector

3.1 Quarterly Gross Domestic Product

Source:Macroeconomic Accounts Department 1/ Preliminary Figures

3.2 Economic Activity Volume Index: EAVI1/

Source: Macroeconomic Accounts Department 1/ Figures revised as to June 2012

GDPt Nominal

Quarter Million of US$ Annual Var. Million of US$ Annual Var.

2002: I 1,932.3 2.4 3,516.4 3.0

II 1,953.1 2.4 3,560.5 3.2

III 1,970.2 2.3 3,593.4 3.7

IV 1,983.4 2.2 3,636.5 4.4

2003: I 1,972.7 2.1 3,711.0 5.5

II 1,996.9 2.2 3,751.8 5.4

III 2,015.8 2.3 3,777.4 5.1

IV 2,033.9 2.5 3,806.4 4.7

2004: I 1/ 2,013.5 2.1 3,878.1 4.5

II 2,032.2 1.8 3,913.0 4.3

III 2,046.0 1.5 3,972.2 5.2IV 2,076.1 2.1 4,035.0 6.0

2005: I 1/ 2,071.2 2.9 4,084.1 5.3II 2,100.7 3.4 4,220.2 7.9III 2,123.1 3.8 4,333.4 9.1IV 2,163.8 4.2 4,456.1 10.4

2006: I 1/ 2,155.3 4.1 4,476.0 9.6II 2,185.9 4.1 4,589.0 8.7III 2,205.7 3.9 4,689.9 8.2IV 2,242.7 3.6 4,795.8 7.6

2007: I 1/ 2,244.5 4.1 4,879.7 9.0II 2,270.7 3.9 4,976.1 8.4III 2,288.0 3.7 5,077.3 8.3IV 2,324.0 3.6 5,171.8 7.8

2008: I 1/ 2,315.1 3.1 5,296.9 8.6II 2,322.6 2.3 5,388.3 8.3III 2,310.5 1.0 5,436.3 7.1IV 2,295.2 (1.2) 5,309.4 2.7

2009: I 1/ 2,231.4 (3.6) 5,138.6 (3.0)II 2,228.5 (4.0) 5,145.6 (4.5)III 2,236.8 (3.2) 5,162.7 (5.0)IV 2,257.0 (1.7) 5,214.0 (1.8)

2010: I 1/ 2,257.7 1.2 5,301.8 3.2II 2,260.1 1.4 5,324.5 3.5III 2,266.4 1.3 5,377.4 4.2IV 2,291.9 1.5 5,424.2 4.0

2011: I 1/ 2,295.1 1.7 5,694.5 7.4II 2,296.4 1.6 5,742.3 7.8III 2,302.9 1.6 5,796.2 7.8IV 2,315.2 1.0 5,821.0 7.3

2012: I 1/ 2,332.8 1.6 5,981.6 5.0

GDPt Constant

-5.5

-4.5

-3.5

-2.5

-1.5

-0.5

0.5

1.5

2.5

3.5

4.5

5.5

I 05

II III IV I 06

II III IV I 07

II III IV I 08

II III IV I 09

II III IV I 10

II III IV I 11

II III IV I 12

%

Quarterly Gross Domestic ProductConstant Prices 1990 = 100

Annual Variation

-8.0

-6.0

-4.0

-2.0

0.0

2.0

4.0

6.0

8.0

10.0

12.0

I 05

II III IV I 06

II III IV I 07

II III IV I 08

II III IV I 09

II III IV I 10

II III IV I 11

II III IV I 12

%

Quarterly Gross Domestic ProductCurrent Prices 1990 = 100

Accumulated Variation

Index Var Index Var Index Var

EAVI General 196.50 2.24 203.06 3.34 204.02 0.48

1. Agriculture, Hunt, Forestry and Fishing 120.24 4.68 117.69 (2.12) 120.28 2.20

2. Mining and Quarries Exploitation 122.17 (20.95) 146.23 19.70 157.98 8.03

3. Manufacturing Industry 225.17 1.57 229.65 1.99 231.74 0.91

4. Electricity, Gas and Water 238.11 2.53 236.32 (0.75) 233.23 -1.31

5. Construction 139.72 (8.20) 163.32 16.89 163.54 0.13

6. Commerce, Restaurants and Hotels 189.82 8.71 200.24 5.49 202.95 1.35

7. Transport, Storage and Communications 311.55 (3.55) 327.39 5.08 311.21 -4.94

8. Banks, Insurances and Other Financial Institutions 505.89 2.93 504.78 (0.22) 508.29 0.69

9. Real Estates and Services to Companies 159.39 (4.09) 173.26 8.70 174.29 0.59

10. Social, Personal and Communal Services 150.42 5.22 152.27 1.23 160.85 5.63

11. Government's Services 130.61 2.89 135.14 3.47 138.08 2.18

jul-10Sectors

jul-11 jul-12


Real Sector

3.2.1 Economic Activity Volume Index: EAVI Cycle Trend



-13.0

-9.0

-5.0

-1.0

3.0

7.0

11.0

J M M J S N J M M J S N J M M J S N J M M J S N J M M J 12

%EAVI GeneralAnnual Variation

-10.0

-8.0

-6.0

-4.0

-2.0

0.0

2.0

4.0

6.0

8.0


%EAVI Cycle Trend

Annual Variation

Figures Variation Figures Variation Figures Variation

January 194.41 -1.34 200.84 3.31 204.05 1.60February 195.18 -0.11 201.31 3.14 204.51 1.59March 196.09 0.87 201.73 2.87 204.36 1.31April 196.82 1.64 202.07 2.66 203.90 0.91May 196.90 1.97 202.29 2.74 203.76 0.73June 196.59 1.98 202.59 3.05 203.89 0.64July 196.50 2.24 203.06 3.34 204.02 0.48August 196.68 2.57 203.38 3.40September 197.42 2.85 203.13 2.89October 198.72 3.36 202.79 2.05November 199.69 3.64 202.97 1.65December 200.27 3.46 203.45 1.59

2010 2011 2012Months

170

185

200

215

230

245


Index Volume Index of Economic Activity (EAVI)General

-8.0

-6.0

-4.0

-2.0

0.0

2.0

4.0

6.0


%

EAVI Cycle Trend-Twelve Months Moving AverageAnnual Variation


Real Sector

3.3 Consumer Price Index (CPI)

Source: Economic Ministry, DIGESTYC 1/: Since January 2010, the Consumer Prices Index is based on the new basket of market derived from the National Survey of Income and Expenses of the Homes 2005/2006 (DIGESTYC) and is based on December 2009=100. * Variation calculated based on the analytical but not the chained series.

Source: Economic Ministry, DIGESTYC Note: The variations showed until December, 2009 correspond to the previous Consumer Prixes Index and for 2010 to the new Consumer Prixes Index base December 2009=100

20101 / 20111 / 20121 /

Base Dic.2009 Monthly Annual* Base Dic.2009 Monthly Annual* Base Dic.2009 Monthly Annual*January 100.44 0.44 0.79 102.77 0.63 2.32 107.65 0.34 4.75February 100.57 0.12 1.04 102.96 0.18 2.38 108.00 0.33 4.90March 100.89 0.32 0.88 103.63 0.66 2.72 108.16 0.15 4.37April 100.71 (0.18) 0.63 106.71 2.97 5.96 108.83 0.62 1.99May 100.50 (0.21) 0.13 107.23 0.48 6.69 108.53 (0.28) 1.21June 100.96 0.46 0.56 107.29 0.06 6.27 107.94 (0.55) 0.60July 100.98 0.01 0.99 107.59 0.26 6.52 107.61 (0.30) 0.04August 100.81 (0.17) 1.02 107.69 0.12 6.82 107.80 0.17 0.10September 101.11 0.30 1.38 107.40 (0.27) 6.22October 101.78 0.66 2.78 107.32 (0.07) 5.44November 102.24 0.45 1.83 107.48 0.15 5.13December 102.13 (0.11) 2.13 107.29 (0.18) 5.06

VariationVariationVariation

-2.0

-1.0

0.0

1.0

2.0

3.0

J 08

M M J S N J 09

M M J S N J 10

M M J S N J 11

M M J S N J 12

M M J

% General CPIMonthly Variation

-2.0-1.00.01.02.03.04.05.06.07.08.09.0

10.0

J 08

M M J S N J 09

M M J S N J 10

M M J S N J 11

M M J S N J 12

M M J

% General CPIAnnual Variation


Real Sector

3.4 Wholesale Prices Index (WPI), Base 1978

Source: Financial and Fiscal Statistic Department

3.5 Industrial Prices Index (IPI)1/, Base January 1998

Source: Financial and Fiscal Statistics Department 1/ Preliminary figures

-20

-15

-10

-5

0

5

10

15

20

25

J 08

M M J S N J 09

M M J S N J 10

M M J S N J 11

M M J S N J 12

M M J

%Wholesale Price Index (WPI)

Annual Variation

Including Coffee

Excluding Coffee

-8.0

-6.0

-4.0

-2.0

0.0

2.0

4.0

6.0

J 05

A J O J 06

A J O J 07

A J O J 08

A J O J 09

A J O J 10

A J O J 11

A J O J 12

A J

%Industrial Price Index (IPI)

Monthly Variation

Aug-12Index Monthly Annual Accumulated

GENERAL INDEX 178.28 2.6 3.1 4.4

31 Alimentary products, beverages and tobacco 127.82 0.0 2.0 2.732 Textiles, dressing clothes and leather's industry 196.28 -0.1 1.7 1.433 Wood industry and its products, includes furniture 156.25 0.0 2.4 0.034 Paper manufacture and paper's products, printing and editorials 85.54 0.0 0.0 0.0

35Manufacturing of chemical substances and products, petroleum, carbon, rubber and plastic derived

256.62 6.0 5.0 7.9

36Manufacturing of minerals non metallic products excepting petroleum derived and carbon

167.36 0.0 5.8 3.9

37 Metallic basic industries 182.00 -0.3 -3.8 -1.938 Manufacture of metallic products, machinery and equipment 124.62 0.0 0.0 0.039 Others manufacturing industries 106.91 0.0 0.8 0.0

DescriptionRate

Monthly Annual Accum. Monthly Annual Accum.

January, 2008 642.42 1.11 13.53 1.11 707.61 1.01 13.76 1.01February 643.00 0.09 12.94 1.20 707.40 (0.03) 13.03 0.98March 664.09 3.28 14.93 4.52 730.18 3.22 15.05 4.23April 681.55 2.63 16.13 7.27 749.97 2.71 16.03 7.06May 687.76 0.91 15.60 8.25 757.62 1.02 15.70 8.15June 711.11 3.39 17.72 11.92 784.50 3.55 17.85 11.99July 724.44 1.87 22.57 14.02 799.34 1.89 22.77 14.10August 699.95 (3.38) 14.89 10.16 772.08 (3.41) 14.66 10.21September 688.61 (1.62) 11.93 8.38 760.11 (1.55) 11.42 8.50October 636.41 (7.58) 1.74 0.16 702.88 (7.53) 1.08 0.33November 617.32 (3.00) (2.66) (2.84) 677.08 (3.67) (3.72) (3.35)December 591.83 (4.13) (6.85) (6.85) 649.79 (4.03) (7.24) (7.24)January, 2009 575.85 (2.70) (10.36) (2.70) 629.59 (3.11) (11.03) (3.11)February 578.96 0.54 (9.96) (2.17) 631.85 0.36 (10.68) (2.76)March 588.51 1.65 (11.38) (0.56) 643.29 1.81 (11.90) (1.00)April 592.81 0.73 (13.02) 0.17 648.89 0.87 (13.48) (0.14)May 596.72 0.66 (13.24) 0.83 652.97 0.63 (13.81) 0.49June 606.90 1.70 (14.66) 2.55 664.79 1.81 (15.26) 2.31July 603.71 (0.52) (16.67) 2.01 660.14 (0.70) (17.41) 1.59August 606.72 0.50 (13.32) 2.52 666.48 0.96 (13.68) 2.57September 602.11 (0.76) (12.56) 1.74 663.08 (0.51) (12.77) 2.04October 601.60 (0.08) (5.47) 1.65 662.41 (0.10) (5.76) 1.94November 610.60 1.50 (1.09) 3.17 671.62 1.39 (0.81) 3.36December 607.79 (0.46) 2.70 2.70 664.23 (1.10) 2.22 2.22January, 2010 610.59 0.46 6.03 0.46 665.50 0.19 5.70 0.19February 614.00 0.56 6.05 1.02 669.89 0.66 6.02 0.85March 616.89 0.47 4.82 1.50 673.24 0.50 4.66 1.36April 621.08 0.68 4.77 2.19 676.67 0.51 4.28 1.87May 613.26 (1.26) 2.77 0.90 665.71 (1.62) 1.95 0.22June 614.48 0.20 1.26 1.10 665.84 0.02 0.16 0.24July 619.40 0.80 2.60 1.91 674.50 1.30 2.18 1.55August 634.26 2.40 4.50 4.36 681.45 1.03 2.25 2.59September 629.95 (0.68) 4.62 3.65 678.24 (0.47) 2.29 2.11October 652.76 3.62 8.51 7.40 690.59 1.82 4.25 3.97November 646.16 (1.01) 5.82 6.31 699.70 1.32 4.18 5.34December 651.07 0.76 7.12 7.12 705.23 0.79 6.17 6.17January, 2011 677.96 4.13 11.04 4.13 734.22 4.11 10.33 4.11February 681.01 0.45 10.91 4.60 736.56 0.32 9.95 4.44March 704.99 3.52 14.28 8.28 759.06 3.05 12.75 7.63April 736.93 4.53 18.65 13.19 792.98 4.47 17.19 12.44May 731.77 (0.70) 19.32 12.39 784.19 (1.11) 17.80 11.20June 726.36 (0.74) 18.21 11.56 775.87 (1.06) 16.52 10.02July 730.35 0.55 17.91 12.18 780.92 0.65 15.78 10.73August 736.78 0.88 16.16 13.16 788.49 0.97 15.71 11.81September 726.76 (1.36) 15.37 11.62 776.43 (1.53) 14.48 10.10October 718.04 (1.20) 10.00 10.29 768.04 (1.08) 11.22 8.91November 724.57 0.91 12.13 11.29 775.34 0.95 10.81 9.94December 714.72 (1.36) 9.78 9.78 757.58 (2.29) 7.42 7.42January 709.50 (0.73) 4.65 8.97 754.63 (0.39) 2.78 7.00February 715.89 0.90 5.12 9.95 761.12 0.86 3.33 7.92March 720.25 0.61 2.17 10.63 766.90 0.76 1.03 8.75April 719.32 (0.13) (2.39) 10.48 766.52 (0.05) (3.34) 8.69May 712.05 (1.01) (2.69) 9.37 760.92 (0.73) (2.97) 7.90June 699.52 (1.76) (3.69) 7.44 748.29 (1.66) (3.55) 6.11July 698.96 (0.08) (4.30) 7.36 750.69 0.32 (3.87) 6.45August 698.12 (0.12) (5.25) 7.23 758.04 0.98 (3.86) 7.49

MonthIndex Inc.

CoffeeVariation VariationIndex Exc.

Coffee

120125130135140145150155160165170175180185190

J 05

A J O J 06

A J O J 07

A J O J 08

A J O J 09

A J O J 10

A J O J 11

A J O J 12

A J

Industrial Price Index (IPI)General Index

Monthly Statistical Bulletin External Sector August, 2012

4.

1. As of August of this year, exports of goods amounted to US$ 3,649.2 million, representing a decrease of 0.5%

over the same period last year.

2. Between January and August of 2012, traditional exports amounted to US$ 409.8 million decreasing by 19.6%

over the same period last year, while the annual increase of nontraditional exports was 5.2% with a value of

US$ 2,540.9 million, mainly because of increases in sales of fuel, underwear, yarn and yarn filaments or fibers, and

electricity. Also, maquila exports had an interannual reduction of 5.8%, reaching a value of US$ 698.5 million.

3. During the period from January to August this year, coffee exports amounted to US$ 260.9 million, representing

a reduction of 35.2% in value and 41.4% by volume, relative to exports of the same period of 2011.

4. The main destination of Salvadoran exports as of July 2012 remains the United States with US$ 1,663.7 million,

representing 45.60% of the total, second is the Honduran market, accounting for 14.2% of total sales of US$ 519.5

million, and in third place is Guatemala with 13.3% share and a value of US$ 484.8 million.

5. Meanwhile imports amounted to US$ 6,919.2 million, an increase of 2.5% compared to those made in August

2011. Among these, the most dynamic sector was that of consumer goods growing by 5.4% and reaching

US$ 2,431.7 million, intermediate goods also showed a positive growth rate with a spike of 3.1% and an import

value of US$ 3250.0 million, capital goods showed a decrease of 1.2% and had a value of US$ 823.2 million.

Maquila had a slump of 9.8% and an import value of US$ 414.3 million.

6. Goods imported from outside Central America (not maquila), totaled US$ 5,215.8 million, and those purchased

from the Central American countries amounted to US$ 1,289.2 million.

7. The purchase of oil and oil products made by El Salvador between January and August last year was

US$ 1,461.1 million, a 23.0% increase on the same period of 2011. Also, in terms of volume it had a 19% increase

relative to the previous year, reaching a volume of 1,658.2 kilograms. During August 2012, the average oil price

was US$ 113.8 per barrel, higher than 2.0% recorded in the same period last year.

8. In August this year the balance of trade showed a deficit of US$ 3,270.0 million, an increase of 5.9% over the

same period last year.

9. Between January and August 2012 family remittances received totaled US$ 2,590.7 million, higher by 7.0%

compared to those received in the same period the previous year. During the month of August alone US$ 315.5

million dollars in remittances entered the country.


4.1 Quarterly Balance of Payments1/

Source: Balance of Payments Department 1/ Preliminary Figures Note: As recommended by IMF technical assistance, there have been revisions to the figures. See the technical note at http://www.bcr.gob.sv/Statistics/Statistics/Statistics Tables/External Sector for more information.

4.2 Family Remittances

Source: Balance of Payments Department Note: As recommended by IMF technical assistance, there have been revisions to the figures. See the technical note at http://www.bcr.gob.sv/Statistics/Statistics/Statistics Tables/External Sector for more information.

Month Million of US$ Variation Million of US$ Variation Million of US$ Variation

January 228.1 -8.2 249.2 9.2 267.3 7.3

February 263.2 -2.9 279.6 6.2 314.8 12.6

March 337.0 9.0 335.5 -0.4 364.0 8.5

April 296.3 5.1 309.2 4.4 332.2 7.4

May 319.2 7.7 338.6 6.1 348.3 2.9

June 294.2 2.5 299.9 2.0 318.2 6.1

July 286.8 4.2 301.4 5.1 330.4 9.6

August 287.0 0.6 307.0 7.0 315.5 2.8

September 260.5 -3.3 286.9 10.1

October 269.8 -3.0 299.4 11.0

November 262.7 1.4 281.9 7.3

December 326.1 0.0 360.1 10.4

TOTAL 3431.0 3648.8 2590.7

20122010 2011

150

200

250

300

350

400

J-08 A J O J-09 A J O J-10 A J O J-11 A J O J-12 A J

Family Remittances,Jan 2008- August 2012, Millions of US$

Credits Debits Balance Credits Debits Balance Credits Debits Balance Credits Debits Balance

1. Current Account 2,690.5 3,038.6 (348.0) 2,557.7 2,813.8 (256.2) 2,708.7 3,034.2 (325.6) 2,651.3 2,892.7 (241.4)

A. Goods and Services 1,672.9 2,826.9 (1,154.0) 1,541.0 2,592.9 (1,051.9) 1,712.7 2,727.6 (1,014.9) 1,584.3 2,679.5 (1,095.2)

a. Goods-FOB 1,355.7 2,525.9 (1,170.2) 1,229.8 2,299.4 (1,069.6) 1,426.9 2,467.7 (1,040.9) 1,295.7 2,433.6 (1,137.9)

1. General Merchandise 1,018.4 2,323.2 (1,304.8) 967.9 2,147.3 (1,179.3) 1,146.9 2,296.7 (1,149.8) 1,002.1 2,269.0 (1,266.9)

2. Goods for Transformation 300.7 168.7 131.9 223.0 118.8 104.2 242.9 133.8 109.1 257.5 133.3 124.1

3. Repair of Goods 23.6 9.6 14.0 25.7 9.3 16.3 23.8 13.1 10.7 25.9 9.8 16.1

4. Goods Adquired in Port 13.1 24.4 (11.3) 13.2 24.0 (10.7) 13.2 24.1 (10.9) 9.9 21.5 (11.6)

5. Non Monetary Gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.0 0.2

b. Services 317.1 301.0 16.2 311.2 293.5 17.7 285.8 259.8 26.0 288.6 245.9 42.8

1. Transports 99.7 124.4 (24.7) 95.9 119.9 (24.0) 102.4 114.3 (11.9) 92.2 105.7 (13.5)

Charges 2.2 92.5 (90.3) 2.3 90.5 (88.2) 2.2 87.2 (85.0) 2.1 78.4 (76.3)

Othes 97.5 31.9 65.6 93.6 29.4 64.2 100.3 27.1 73.1 90.1 27.3 62.8

2. Travels 136.6 52.8 83.8 124.1 58.1 66.0 116.7 61.0 55.7 118.0 47.7 70.3

3. Communications 51.7 21.5 30.2 44.9 23.6 21.3 41.0 10.7 30.3 48.5 7.1 41.4

4. Construction 2.9 3.0 (0.1) 4.0 1.7 2.3 2.4 1.0 1.5 0.6 0.7 (0.2)

5. Insurances 2.2 40.1 (37.9) 7.2 32.3 (25.1) 4.8 27.4 (22.6) 2.8 32.1 (29.3)

6. Financial 3.7 3.8 (0.1) 0.6 1.6 (1.0) 1.8 1.9 (0.1) 2.4 2.9 (0.5)

7. Information Services 0.4 7.0 (6.6) 0.3 4.2 (3.9) 1.4 3.4 (2.0) 1.6 3.7 (2.1)

8. Royalties 0.1 7.1 (7.0) 0.1 15.9 (15.8) 0.1 9.6 (9.5) 5.1 14.3 (9.2)

9. Personal, cultural and recreational 0.0 0.1 (0.1) 0.0 0.4 (0.3) 0.0 0.3 (0.3) 0.0 0.0 (0.0)

10. Government Services 15.9 8.7 7.2 21.2 8.6 12.6 12.1 8.6 3.6 14.4 8.6 5.8

11. Others Enteprises Services 3.8 32.4 (28.6) 12.9 27.3 (14.5) 3.1 21.6 (18.6) 3.1 23.0 (20.0)

B. Revenue 14.8 192.2 (177.4) 15.1 199.0 (184.0) 14.4 281.3 (266.9) 10.5 187.0 (176.5)

1. Employees Remunerations 4.1 7.1 (3.0) 4.3 7.9 (3.6) 3.3 6.3 (2.9) 0.0 0.0 0.0

2. Investment Revenue 10.7 185.1 (174.4) 10.8 191.2 (180.4) 11.1 275.1 (264.0) 10.5 187.0 (176.5)

C. Current Transferers 1,002.9 19.5 983.3 1,001.6 21.9 979.7 981.5 25.3 956.2 1,056.5 26.2 1,030.3

1. General Government 43.9 0.0 43.9 13.2 0.0 13.2 2.6 0.0 2.6 4.4 0.0 4.4

2. Other Sectors 958.9 19.5 939.4 988.4 21.9 966.5 978.9 25.3 953.6 1,052.1 26.2 1,025.9

Family Remittances 895.4 0.0 895.4 941.5 0.0 941.5 946.2 0.0 946.2 998.7 0.0 998.7

Others 63.5 19.5 44.0 46.9 21.9 25.0 32.8 25.3 7.5 53.4 26.2 27.2

2. Capital and Financial Accounts 818.5 970.7 (152.1) 637.4 288.4 349.0 871.8 276.5 595.3 547.8 167.5 380.3

2.1 Capital Account 61.1 0.3 60.9 63.7 0.1 63.6 56.3 0.2 56.1 54.3 0.1 54.2

Transferences of Capital 61.1 0.3 60.9 63.7 0.1 63.6 56.3 0.2 56.1 54.3 0.1 54.2

General Government 40.6 0.0 40.6 34.8 0.0 34.8 36.9 0.0 36.9 34.9 0.0 34.9

Other Sectors 20.5 0.3 20.3 29.0 0.1 28.9 19.4 0.2 19.2 19.4 0.1 19.3

Non-produced non-financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

2.2 Financial Account 757.4 970.4 (213.0) 573.7 288.3 285.4 815.5 276.3 539.2 493.5 167.5 326.0

a) Assets (Inc. Reserve Assets) 477.5 141.6 336.0 278.1 261.3 16.8 176.0 205.5 (29.4) 201.7 39.8 162.0

1. Direct Investments abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

2. Portfolio Investment 57.3 1.0 56.4 0.0 2.7 (2.7) 21.4 0.0 21.4 15.9 0.9 15.0

3. Other Investment 6.0 140.6 (134.6) 134.7 258.6 (124.0) 154.6 80.2 74.4 157.9 38.9 119.1

b) Liabilities 279.9 828.8 (549.0) 295.6 27.0 268.6 639.4 70.8 568.6 291.7 127.7 164.1

1. Direct Investments 84.6 0.0 84.6 11.2 0.0 11.2 78.4 0.0 78.4 37.4 0.0 37.4

2. Portfolio Investments 0.0 654.5 (654.5) 0.0 1.0 (1.0) 2.0 1.7 0.3 0.0 0.0 (1.0)

3. Other Investments 195.3 174.3 20.9 284.4 26.0 258.4 559.0 69.1 489.9 254.4 126.7 127.7

c) Reserve Assets 414.2 0.0 414.2 143.4 0.0 143.4 0.0 125.3 (125.3) 27.9 0.0 27.9

Errors and Omissions 500.2 0.0 500.2 0.0 92.9 (92.9) 0.0 269.7 (269.7) 0.0 138.8 (138.8)

TOTAL 4,009.2 4,009.2 0.0 3,195.1 3,195.1 0.0 3,580.4 3,580.4 0.0 3,199.1 3,199.1 0.0

April-June/2012 1/Jan-March/20121/Oct-Dec/2011 1/Jul-Sep/2011 1/


4.3 Trade Balance January-August, in million of US$ and Kilograms

4.3.1 Economic Classification of Imports January-August, in million of US$ and Kilograms

Source: Balance of Payments Department 1/ Preliminary Figures Note: As recommended by IMF technical assistance, there have been revisions to the figures. See the technical note at http://www.bcr.gob.sv/Statistics/Statistics/Statistics Tables/External Sector for more information.

Source: Balance of Payments Department 1/ Preliminary Figures * Includes petroleum oil or bituminous mineral except for crude oils, this preparation includes a content higher or equal to 70% in weight of petroleum oils or bitumi-

nous mineral (including fuel, diesel oil, fuel oil, oils and lubricating grease). Note: As recommended by IMF technical assistance, there have been revisions to the figures. See the technical note at http://www.bcr.gob.sv/Statistics/Statistics/

Statistics Tables/External Sector for more information.

Variation

Value Volume Value Volume Value Volume Value Volume Value Volume

I. Exports - FOB 3,005.0 1,748.4 3,666.1 1,852.0 3,649.2 2,009.8 22.0 5.9 -0.5 8.5

A. Traditionals 277.3 311.4 509.5 321.9 409.8 340.5 83.7 3.4 -19.6 5.8

1- Coffee 170.5 53.0 402.8 90.8 260.9 53.2 136.3 71.3 -35.2 -41.4

2- Sugar 106.3 258.3 106.4 231.0 148.6 287.2 0.1 -10.6 39.7 24.3

3- Shrimp 0.6 0.1 0.4 0.0 0.3 0.0 -37.1 -54.0 -8.4 -5.1

B. Non Traditionals 2,049.3 1,358.5 2,415.0 1,440.8 2,540.9 1,593.8 17.8 6.1 5.2 10.6

1- Central America 1,037.7 735.7 1,244.7 844.8 1,342.7 987.4 19.9 14.8 7.9 16.9

2- Rest of the World 1,011.5 622.8 1,170.3 596.0 1,198.2 606.4 15.7 -4.3 2.4 1.7

C. Maquila 678.4 78.5 741.5 89.3 698.5 75.5 9.3 13.7 -5.8 -15.4

II. Imports - CIF 5,504.9 4,713.1 6,753.4 5,060.2 6,919.2 5,245.0 22.7 7.4 2.5 3.7

A. Central America 1,025.4 1,183.5 1,223.7 1,365.6 1,289.2 1,399.3 19.3 15.4 5.3 2.5

B. Rest of the World 4,070.2 3,452.2 5,070.2 3,581.5 5,215.8 3,762.4 24.6 3.7 2.9 5.1

C. Maquila 409.3 77.4 459.4 113.1 414.3 83.2 12.2 46.2 -9.8 -26.4

III. Trade Balance -2,499.9 -2,964.6 -3,087.3 -3,208.3 -3,270.0 -3,235.2 23.5 8.2 5.9 0.8

12/11 11/10

2010 1/ 2011 1/ 2012 1/

2010 1/ 2011 1/ 2012 1/Variation

Value Volume Value Volume Value Volume Value Volume Value Volume

11/10 12/11

I. Consumer Goods 1,963.9 1,601.3 2,307.8 1,832.0 2,431.7 1,846.1 17.5 14.4 5.4 0.8

A. Non Durables 1,702.1 1,555.7 2,025.9 1,786.4 2,106.0 1,798.4 19.0 14.8 4.0 0.7

Petroleum's oils *, gaseous hydrocarbons 316.0 405.0 404.7 409.9 497.3 511.1 28.1 1.2 22.9 24.7

B. Durables 261.9 45.6 281.9 45.5 325.7 47.7 7.7 -0.1 15.5 4.7

II. Intermediates 2,446.4 2,929.2 3,153.1 3,009.1 3,250.0 3,204.4 28.9 2.7 3.1 6.5

A. Manufacture Industry 1,963.6 2,247.2 2,511.1 2,247.9 2,625.3 2,469.8 27.9 0.0 4.5 9.9

Petroleum 318.7 598.8 375.0 494.4 409.4 508.2 17.7 -17.4 9.2 2.8

Petroleum's oils * 263.4 449.8 407.7 488.8 554.4 638.8 54.8 8.7 36.0 30.7

B. Agricultural 171.4 298.8 247.8 314.4 234.8 301.5 44.6 5.2 -5.3 -4.1

Fertilizers 67.5 248.9 89.5 253.0 94.0 237.2 32.5 1.6 5.0 -6.2

C. Construcction 279.0 371.6 340.4 434.6 336.8 419.8 22.0 16.9 -1.1 -3.4

D. Others 32.4 11.5 53.7 12.2 53.1 13.3 65.5 5.8 -1.1 9.0

III. Capital Goods 685.2 105.2 833.1 106.0 823.2 111.3 21.6 0.8 -1.2 5.0

A. Manufacture Industry 267.5 22.8 299.7 24.8 279.2 26.0 12.0 8.6 -6.8 5.0

B. Transport 204.1 59.6 246.7 53.5 292.6 62.6 20.9 -10.2 18.6 16.9

Vehiculs 42.2 12.9 50.8 14.5 68.2 19.4 20.3 12.1 34.4 33.6

C. Agricultural 15.3 5.7 32.2 9.0 18.7 5.1 111.4 58.3 -41.9 -43.8

D. Construcction 51.4 7.3 66.0 8.1 58.2 8.0 28.4 11.1 -11.8 -1.8

E. Commerce 70.5 1.9 95.5 2.2 90.0 2.2 35.4 15.8 -5.7 1.0

F. Services 24.0 1.7 27.4 2.1 32.7 1.7 14.2 21.7 19.1 -16.9

G. Electric., Water and Serv. 52.0 6.1 65.3 6.3 51.5 5.7 25.6 3.5 -21.2 -9.8

H. Banking 0.5 0.1 0.3 0.1 0.3 0.1 -29.2 -38.3 -8.2 -5.4

IV. Maquila 409.3 77.4 459.4 113.1 414.3 83.2 12.2 46.2 -9.8 -26.4

Total 5,504.9 4,713.1 6,753.4 5,060.2 6,919.2 5,245.0 22.7 7.4 2.5 3.7


4.3.2 Exports and Imports by Country January-August 2012, in Thousand of US$

Source: Balance of Payments Department 1Preliminary Figures Figures include maquila. Note: As recommended by IMF technical assistance, there have been revisions to the figures. See the technical note at http://www.bcr.gob.sv/Statistics/Statistics/Statistics Tables/External Sector for more information.

Value % of Total Value % of Total Value % of Total

NAFTA 1,763,465 48.3 3,120,474 45.1 -1,357,009 41.5

Canada 44,551 1.2 31,779 0.5 12,772 -0.4

United States 1,663,653 45.6 2,648,298 38.3 -984,645 30.1

Mexico 55,261 1.5 440,397 6.4 -385,136 11.8

Central America 1,369,808 37.5 1,357,874 19.6 11,934 -0.4

Costa Rica 155,170 4.3 205,037 3.0 -49,868 1.5

Guatemala 484,870 13.3 705,397 10.2 -220,527 6.7

Honduras 519,510 14.2 303,924 4.4 215,586 -6.6

Nicaragua 210,258 5.8 143,516 2.1 66,742 -2.0

Andine Pact 18,820 0.5 659,287 9.5 -640,467 19.6

Bolivia 672 0.0 45 0.0 627 0.0

Colombia 4,106 0.1 280,022 4.0 -275,916 8.4

Ecuador 2,465 0.1 183,488 2.7 -181,022 5.5

Peru 2,692 0.1 64,644 0.9 -61,952 1.9

Venezuela 8,885 0.2 131,088 1.9 -122,203 3.7

MERCOSUR 3,505 0.1 121,702 1.8 -118,197 3.6

Argentina 62 0.0 27,311 0.4 -27,248 0.8

Brazil 2,852 0.1 86,198 1.2 -83,346 2.5

Paraguay 453 0.0 96 0.0 357 0.0

Uruguay 138 0.0 8,098 0.1 -7,960 0.2

European Union 187,271 5.1 340,352 4.9 -153,081 4.7

Germany 59,185 1.6 97,588 1.4 -38,403 1.2

Austria 115 0.0 6,379 0.1 -6,264 0.2

Belgium 10,064 0.3 35,077 0.5 -25,014 0.8

Denmark 208 0.0 6,598 0.1 -6,390 0.2

Spain 56,948 1.6 59,635 0.9 -2,688 0.1

Finland 837 0.0 3,665 0.1 -2,828 0.1

France 6,862 0.2 21,227 0.3 -14,365 0.4

Greece 16 0.0 355 0.0 -339 0.0

Holland 8,865 0.2 23,463 0.3 -14,598 0.4

Ireland 2,967 0.1 6,374 0.1 -3,407 0.1

Italy 17,501 0.5 34,439 0.5 -16,938 0.5

Luxembourg 0 0.0 24 0.0 -24 0.0

Portugal 454 0.0 7,554 0.1 -7,100 0.2

United Kingdom 14,984 0.4 20,377 0.3 -5,393 0.2

Sweden 8,265 0.2 17,596 0.3 -9,331 0.3

Asia 77,895 2.1 906,415 13.1 -828,521 25.3

ASEAN4 2,660 0.1 53,513 0.8 -50,852 1.6

Philippines 160 0.0 594 0.0 -434 0.0

Indonesia 219 0.0 13,172 0.2 -12,953 0.4

Malaysia 576 0.0 9,359 0.1 -8,783 0.3

Thailand 1,705 0.0 30,387 0.4 -28,682 0.9

Hong Kong 2,959 0.1 67,612 1.0 -64,653 2.0

Japan 30,485 0.8 119,776 1.7 -89,291 2.7

Singapore 1,197 0.0 13,175 0.2 -11,978 0.4

Taiwan 5,656 0.2 103,013 1.5 -97,358 3.0

Others Asian 34,938 1.0 549,327 7.9 -514,389 15.7

Others 228,440 6.3 413,084 6.0 -184,644 5.6

Panama 82,737 2.3 98,301 1.4 -15,564 0.5

Chile 32,767 0.9 34,142 0.5 -1,375 0.0

Dominic Republic 55,852 1.5 26,657 0.4 29,194 -0.9Rest 57,085 1.6 253,984 3.7 -196,899 6.0

TOTAL 3,649,205 100.0 6,919,189 100.0 -3,269,985 100.0

EL SALVADOR: Exports and Imports by Country

January-August

(In Thousand of US$)

2 0 1 2

BalanceImportsExports

Country or Region


4.3.4 Classification of Imports by Importance Order January-August 2012, in Thousand of US$

4.3.3 Classification of Exports by Importance Order January-August 2012, in Thousand of US$

Source: Balance of Payments Department Figures include maquila. Note: As recommended by IMF technical assistance, there have been revisions to the figures. See the technical note at http://www.bcr.gob.sv/Statistics/Statistics/Statistics Tables/External Sector for more information.

Source: Balance of Payments Department Figures include maquila. Note: As recommended by IMF technical assistance, there have been revisions to the figures. See the technical note at http://www.bcr.gob.sv/Statistics/Statistics/Statistics Tables/External Sector for more information.

2012 Partic. 2011 Partic.

C.A.

Out of C.A. Total % C.A. Out of C.A. Total % Absolute Relative

1 Underw ear and clothing accessories 77,807 798,771 876,577 24.0 67,521 780,786 848,307 23.1 28,270 3.3

2 Outerw ear clothing 53,119 355,548 408,667 11.2 48,518 353,639 402,157 11.0 6,510 1.6

3 Coffee, even roasted or decaffeinated 1,328 259,668 260,995 7.2 1,281 401,638 402,919 11.0 -141,923 -35.2

4 Machinery, appliances and electrical material 37,193 136,735 173,929 4.8 41,473 151,796 193,268 5.3 -19,340 -10.0

5 Unrefined sugar 2 148,590 148,592 4.1 1 106,369 106,370 2.9 42,222 39.7

6 Boxes, bags, bottles, corks and other packaging plastics 86,550 24,964 111,515 3.1 71,607 27,411 99,017 2.7 12,497 12.6

7 Iron, steel and other manufacturing 70,433 23,102 93,535 2.6 62,360 27,108 89,468 2.4 4,067 4.5

8 Other textiles, and textiles articles 60,119 20,809 80,928 2.2 70,144 15,567 85,711 2.3 -4,783 -5.6

9 Medicinal preparations 49,070 22,647 71,717 2.0 48,804 22,610 71,414 1.9 302 0.4

10 Toillet paper, cut for domestic use 60,268 8,290 68,558 1.9 62,125 9,157 71,281 1.9 -2,723 -3.8

11 Other products of the food industry 38,906 29,226 68,132 1.9 33,031 26,084 59,114 1.6 9,017 15.3

12 Water, mineral w ater aerated, purée or f lavoured, and other alcohol not drinking 46,412 19,964 66,376 1.8 41,011 20,682 61,693 1.7 4,683 7.6

13 Bakery products, cakes and biscuits 56,243 8,149 64,392 1.8 47,420 8,090 55,510 1.5 8,882 16.0

14 Rolled products of iron or steel 45,990 2,300 48,290 1.3 52,636 1,304 53,940 1.5 -5,649 -10.5

15 Paper and cardboard packaging 32,336 15,262 47,598 1.3 31,120 16,505 47,625 1.3 -26 -0.1

16 Oils and greases 32,758 14,697 47,455 1.3 31,276 14,250 45,526 1.2 1,929 4.2

17 Products from cereals obtained by the sw elling or roasting 43,553 104 43,657 1.2 41,902 73 41,975 1.1 1,682 4.0

18 Fruit juices 20,106 22,470 42,576 1.2 17,294 19,455 36,749 1.0 5,827 15.9

19 Pearls, precious stones and metals except gold 111 42,387 42,498 1.2 81 67,033 67,114 1.8 -24,616 -36.7

20 Cooked tuna loins, frozen 0 35,084 35,084 1.0 0 24,090 24,090 0.7 10,993 45.6

21 Gas oil, diesel and others (Fuel oil) 34,238 104 34,342 0.9 7,925 212 8,137 0.2 26,205 322.0

22 Plates, sheets, foil and plastic f ilm 29,645 4,400 34,045 0.9 25,954 3,729 29,684 0.8 4,362 14.7

23 Other products of the chemical industry 28,616 4,731 33,348 0.9 25,335 1,636 26,971 0.7 6,376 23.6

24 Preparations, organic surface-active surface for w ashing and cleaning (detergents) 27,045 4,791 31,835 0.9 24,694 4,817 29,511 0.8 2,324 7.9

25 Tissues, napkins, tow els, diapers and similar articles, paper used to make it 29,331 2,009 31,340 0.9 17,934 5,271 23,205 0.6 8,135 35.1

26 Others 408,629 274,596 683,224 18.7 402,089 283,273 685,362 18.7 -2,138 -0.3

Total 1,369,808 2,279,396 3,649,205 100.0 1,273,535 2,392,584 3,666,119 100.0 -16,915 -0.5

Total Variation

Producto

2012 Partic. 2011 Partic.

C.A. Out of C.A. Total % C.A. Out of C.A. Total % Absolute Relative

1 Petroleum oils and other minerals, hydrocarbons 12,329 1,449,321 1,461,650 21.12 1,958 1,185,856 1,187,814 17.6 273,836 23.1

2 Knitted 63,329 221,995 285,323 4.12 50,587 226,719 277,305 4.1 8,018 2.9

3 Pig iron, sheets, rods, tubes, w ires, nails. 91,991 178,392 270,383 3.91 90,268 174,755 265,024 3.9 5,359 2.0

4Machinery and mechanical appliances (except computer science, fridge and

car parts)

9,196 244,069 253,266 3.66 7,933 272,993 280,926 4.2 -27,660 -9.8

5Medicines and other pharmaceutical products

25,252 220,998 246,251 3.56 25,816 235,898 261,715 3.9 -15,464 -5.9

6 Plastics in primary forms6,164 206,284 212,448 3.07 4,279 213,993 218,271 3.2 -5,824 -2.7

7 Clothing and accessories, bedding, table64,993 143,137 208,130 3.01 80,221 141,551 221,772 3.3 -13,642 -6.2

8 Automobiles, chassis, carrocerrias, and trailers1,271 167,495 168,765 2.44 529 129,872 130,401 1.9 38,364 29.4

9 Electrical apparatus for line telephony or telegraphy.655 143,532 144,187 2.08 1,312 113,272 114,584 1.7 29,603 25.8

10 Paper and paperboard (w hether or not coated, impregnated)5,073 119,541 124,614 1.80 6,891 121,225 128,116 1.9 -3,501 -2.7

11 Inorganic chemicals and organic products19,714 92,821 112,535 1.63 16,251 93,920 110,171 1.6 2,364 2.1

12 Woven fabrics (planes) synthetic or artif icial 16,844 84,906 101,750 1.47 13,743 82,038 95,781 1.4 5,969 6.2

13 Plastic items (containers, for domestic use, etc.)45,911 49,452 95,364 1.38 40,912 54,573 95,485 1.4 -121 -0.1

14 Perfumery and cosmetics products37,595 57,028 94,623 1.37 34,736 52,723 87,459 1.3 7,164 8.2

15 Not chemically modif ied vegetable oils 81,462 12,522 93,984 1.36 78,931 13,141 92,071 1.4 1,912 2.1

16 Mineral or chemical fertilizer9,089 84,884 93,974 1.36 6,859 82,614 89,473 1.3 4,501 5.0

17 Corn3,932 88,314 92,246 1.33 10,940 126,855 137,795 2.0 -45,549 -33.1

18 Cotton Yarn1,840 77,591 79,431 1.15 4,418 153,395 157,814 2.3 -78,382 -49.7

19 Tubes, plates, sheets and plastic f ilms19,506 59,635 79,141 1.14 19,811 60,513 80,324 1.2 -1,183 -1.5

20 Computer equipment, units, parts and accessories.597 78,304 78,901 1.14 1,392 85,486 86,878 1.3 -7,977 -9.2

21 Milk (except dust), and dairy.63,979 13,235 77,214 1.12 55,941 13,059 69,000 1.0 8,214 11.9

22 Toilet paper, napkins and other paper items35,356 40,762 76,118 1.10 28,637 35,387 64,024 0.9 12,094 18.9

23 Monofilament, synthetic yarn and artif icial 8,020 64,397 72,417 1.05 5,490 66,410 71,899 1.1 517 0.7

24 Meat and edible offal51,140 13,766 64,906 0.94 48,953 9,360 58,312 0.9 6,593 11.3

25 Soap, surface-active preparations for w ashing 49,082 14,958 64,040 0.93 49,673 14,144 63,816 0.9 223 0.3

26 Others 633,554 1,633,976 2,267,529 32.77 604,041 1,703,108 2,307,149 34.2 -39,619 -1.7

Total 1,357,874 5,561,315 6,919,189 100 1,290,521 5,462,859 6,753,380 100 165,809 2.5

Product Total Variation


4.3.5 Graphics

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

2010 2011 2012

Total Exports and Imports,Jan-August 2010/2012, Million of US$

Exports FOB Imports CIF-3500

-3000

-2500

-2000

-1500

-1000

-500

02010 2011 2012

Trade Balance,Jan-August 2010/2012, Million of US$

0200400600800

1,0001,2001,4001,6001,8002,0002,2002,4002,600

2010 2011 2012

Exports Classification,Jan-August 2010/2012, Million of US$

Traditionals Non Traditionals Maquila

0

500

1000

1500

2000

2500

3000

3500

2010 2011 2012

Imports Classification,Jan-August 2010/2012, Million of US$

Consumer Intermediate Capital Maquila

0

20

40

60

80

100

E-08

A J O E-09

A J O E-10

A J O J-11

A J O J-12

A J

20

70

120

170

220

270

Value and Price of Coffee Exports, Jan-August 2010/2012

PRICE VALUE

Million of US$ US$ per qq

0

50

100

150

200

250

300

E-08

A J O E-09

A J O E-10

A J O J-11

A J O J-12

A J20

40

60

80

100

120

140

160

Value and Price of Crude Petroleum Imports, Jan-August 2010/2012

PRICE VALUE

.

US$ per BarrelMillion of US$


4.4 Nominal Exchange Rate with Respect to US Dollar

Source: Balance of Payments Department


0

300

600

900

1,200

1,500

1,800

USA GUATE. HOND. NICA. C.RICA CHILE

Exports by Assignment Country,Jan-August 2011/2012, Million of US$

2011 2012

0

500

1,000

1,500

2,000

2,500

3,000

USA MEX. GUATE. C.RICACOLOMBIA HOND. CHINA

Imports by Country Origin,Jan-August 2011/2012, Million of US$

2011 2012

0

20

40

60

80

100

120

140

E-08

A J O E-09

A J O E-10

A J O J-11

A J O J-12

A J

Maquila, Jan-August 2008/2012,

Million of US$

Exports Imports

60

80

100

120

140

160

180

200

J-08

A J O J-09

A J O J-10

A J O J-11

A J O J-12

A J

Trade Balance with Central America,

Jan-August 2008/2012 Million of US$

Exports Imports

5

10

15

20

E-08

A J O E-09

A J O E-10

A J O J-11

A J O J-12

A J

Exchange Rate/USDollar,Jan-August 2008/2012

Honduras Mexico Guatemala

Month Guatemala Honduras Mexico

January, 2008 7.8 18.9 10.8

February 7.7 18.9 10.7

March 7.6 18.9 10.7

April 7.5 18.9 10.5

May 7.4 18.9 10.3

June 7.5 18.9 10.3

July 7.4 18.9 10.0

August 7.4 18.9 10.3

September 7.4 18.9 11.0

October 7.5 18.9 12.6

November 7.7 18.9 13.2

December 7.8 18.9 13.6

January, 2009 7.9 18.9 14.2

February 8.0 18.9 15.0

March 8.1 18.9 14.3

April 8.1 18.9 13.7

May 8.1 18.9 13.2

June 8.2 18.9 13.2

July 8.2 18.9 13.3

August 8.3 18.9 13.2

September 8.3 18.9 13.5

October 8.3 18.9 13.1

November 8.3 18.9 12.9

December 8.3 18.9 13.0

January, 2010 8.3 18.9 13.1

February 8.2 18.9 12.8

March 8.0 18.9 12.4

April 8.0 18.9 12.2

May 8.0 18.9 13.0

Jun 8.0 18.9 12.9

July 8.0 18.9 12.7

August 8.1 18.9 13.2

September 8.1 18.9 12.5

October 8.0 18.9 12.4

November 8.0 18.9 12.5

December 8.0 18.9 12.4

January 2011 7.9 18.9 12.2

February 7.8 18.9 12.1

March 7.7 18.9 11.9

April 7.6 18.9 11.6

May 7.8 18.9 11.6

June 7.8 18.9 11.7

July 7.8 18.8 11.7

August 7.8 18.8 12.5

September 7.9 18.9 13.7

October 7.8 19.0 13.0

November 7.9 18.9 13.8

December 7.8 19.0 14.0

January 2012 7.8 19.1 13.0

February 7.8 19.1 12.9

March 7.7 19.1 12.8

April 7.8 19.1 13.0

May 7.8 19.1 14.1

June 7.8 19.1 13.6

July 7.8 19.1 13.3

August 7.9 19.6 13.4


4.5 Real Exchange Rate Index

Source: Balance of Payments Department 1/ Real Exchange Rate Index (RERI) 2/ Purchase Average Note: an increase of RERI means depreciation

4.6 Net International Reserves (NIR) Balances in Million of US$

Source: Balance of Payments Department According to IMF’s Balance of Payments V Manual, since January 1999, it has included interest earnings and payment for assets and liabilities of the Central Bank

90

95

100

105

110

J-08

A J O J-09

A J O J-10

A J O J-11

A J O J-12

A J

-3

-2

-1

0

1

2

3

4

5

6

7

Real Exchange Rate Index (RERI)

Series2

Series1

RateIndex

86

88

90

92

94

96

98

100

102

J-08

A J O J-09

A J O J-10

A J O J-11

A J O J-12

A J

RERI and Bilateral USA

RERI

Bilateral USA

Month 2009 Variation 2010 Variation 2011 Variation 2012 Variation

January 2,372.1 6.73 3,014.9 27.10 2,769.5 -8.1 2,580.1 -6.84

February 2,412.6 5.88 2,844.2 17.89 3,377.6 18.8 2,618.1 -22.49

March 2,517.6 10.76 2,606.8 3.54 3,248.7 24.6 2,650.3 -18.42

April 2,675.2 15.62 2,736.3 2.28 3,385.2 23.7 2,711.3 -19.91

May 2,930.3 21.78 2,629.8 -10.25 3,321.3 26.3 2,652.8 -20.13

June 2,782.9 20.89 2,682.9 -3.59 3,057.7 14.0 2,602.8 -14.88

July 2,677.7 18.27 2,610.5 -2.51 2,878.6 10.3 2,527.4 -12.20

August 2,978.9 29.20 2,569.0 -13.76 2,762.3 7.5 2,500.8 -9.47

September 2,744.9 21.43 2,531.1 -7.79 2,663.4 5.2

October 2,930.0 24.99 2,783.1 -5.01 2,729.3 -1.9

November 2,732.5 13.43 2,910.2 6.50 2,683.1 -7.8

December 2,984.8 17.47 2,882.1 -3.44 2,503.4 -13.1

1600

1900

2200

2500

2800

3100

3400


Net International Reserves,Millions of US$

Month RERI 1/ Exchange

Rate2/ Inflation

January, 2008 98.61 8.75 4.75

February 98.32 8.75 5.82

March 98.84 8.75 5.99

April 98.95 8.75 6.79

May 98.86 8.75 8.40

June 98.50 8.75 9.02

July 98.04 8.75 9.64

August 97.73 8.75 9.89

September 97.71 8.75 8.68

October 96.63 8.75 7.41

November 95.66 8.75 5.29

December 95.27 8.75 5.47

January, 2009 95.43 8.75 3.98

February 95.13 8.75 3.30

March 94.25 8.75 3.29

April 94.96 8.75 2.27

May 95.23 8.75 1.23

June 95.64 8.75 0.16

July 95.72 8.75 -1.27

August 96.13 8.75 -1.57

September 96.39 8.75 -1.34

October 97.27 8.75 -1.60

November 97.99 8.75 -1.37

December 97.01 8.75 -0.19

January, 2010 96.96 8.75 0.63

February 97.27 8.75 0.62

March 97.85 8.75 0.17

April 98.33 8.75 0.16

May 98.17 8.75 -0.11

June 97.64 8.75 0.17

July 98.00 8.75 0.35

August 98.46 8.75 0.41

September 98.27 8.75 0.91

October 98.29 8.75 2.33

November 98.15 8.75 3.21

December 98.42 8.75 2.13

January, 2011 98.41 8.75 2.32

February 99.06 8.75 2.38

March 99.57 8.75 2.72

April 97.56 8.75 5.96

May 97.45 8.75 6.70

June 97.39 8.75 6.27

July 97.30 8.75 6.53

August 97.23 8.75 6.82

September 97.23 8.75 6.22

October 97.11 8.75 5.44

November 96.81 8.75 5.13

December 96.87 8.75 5.05

January, 2012 96.89 8.75 4.75

February 97.27 8.75 4.90

March 97.73 8.75 4.37

April 97.36 8.75 1.99

May 97.30 8.75 1.21

June 97.49 8.75 0.61

July 97.88 8.75 0.04

August 98.19 8.75 0.10


4.6.1 Indicators of NIR Months of Imports


Month 2008 2009 2010 2011 2012

January 3.1 4.4 5.2 4.3 3.3

February 3.2 4.5 5.0 4.9 3.4

March 3.4 4.5 4.0 3.7 3.1

April 2.8 5.2 4.2 4.7 3.4

May 3.0 5.3 4.2 3.9 2.8

June 3.0 5.0 3.8 3.9 4.0

July 2.7 4.3 4.0 3.5 2.6

August 3.3 5.9 4.1 3.6 3.2

September 2.8 5.0 3.9 3.5

October 3.1 5.1 4.3 4.0

November 3.8 4.3 4.3 3.7

December 4.1 5.3 4.1 3.1

2.0

3.0

4.0

5.0

6.0

7.0


Months of Imports Financed with NIR

Monthly Statistical Bulletin Monetary Sector August, 2012

5.

1. The Central Reserve Bank reported as of August 2012, net international reserves of US$ 2,500.8

million, dropping 9.5% annually, partly related to a decrease in GOES deposits and maturing BCR

securities. Liquidity reserves recorded a balance of US$ 2,349.6 million, a decreasing 2.5%.relative to

the same period last year

2. The financial system reached a low annual growth of 0.6% in total deposits plus securities

(totaling US$ 10,272.8 million). The nonfinancial public sector and the private sector had deposits of

US$ 668.2 million and US$ 8,787.7 million, with growth rates of 7.2% and 0.4% p.a., respectively.

3. In the composition of private sector deposits, savings deposits increased by 1.6% p.a., offset by a

decrease in time deposits of 0.3% annually. Meanwhile, deposits did not experience growth rates by

August 2012.

4. The portfolio of loans to the resident private sector shows a balance of US$ 8,624.4 million, an increase

of 6.9% p.a. (US$ 554.9 million higher than the balance obtained in August 2011).

5. The average interest rate on time deposits to 180 days was 2.60%, an increase of 81 basis points relative

to August 2011. The interest rate applied to loans up to one year was 5.71%, with an annual decline of 4

basis points.


5.1 Outlook Central Reserve Bank In million of US$

Note: Since January 2001, legal reserve has been replaced by “liquidity reserve”. 1/ Correspond to bills and coins colones in circulation named in US$. a/ Percentage values over one thousand are omitted. Source: Central Reserve Bank’s Balance

5.2 Financial System In million of US$

1/ Correspond to Bills and coins Colones in circulation named in US Dólares a/ Percentage values over one thousand are omitted p/ Preliminary numbers Source: Central Reserve Bank and Financial Institutions’ Balances

2011

August July August Annual Monthly

I. Net Foreign Assets 2,629.81 2,395.83 2,369.22 -9.91 -1.11

A. Gross Foreign Assets 2,763.36 2,528.99 2,502.60 -9.44 -1.04

B. Short Term Foreign Liabilities -1.11 -1.56 -1.78 60.65 14.40

C. Medium & Long Term Foreign Liabilities -132.44 -131.60 -131.60 -0.64 0.00

II. Net Domestic Assets -215.73 -62.46 -15.08 -93.01 -75.85

A. Loans to Financial Sector 104.38 104.27 104.27 -0.10 0.00

B. Non Fiancial Public Sector- Net 546.85 608.88 629.83 15.17 3.44

C. Liabilities with Non Monetary Financial Institutions -157.98 -188.90 -154.79 -2.02 -18.06

D. Liabilities in Securities bought by: -208.58 -146.58 -146.58 -29.73 0.00

1. Commercial Banks and Financiers 0.00 0.00 0.00 0.00 0.00

2. Non Monetary Financial Institutions -77.58 -77.58 -77.58 0.00 0.00

3. Pension Fund Administrators 0.00 0.00 0.00 0.00 0.00

4. Stock Market -13.00 0.00 0.00 -100.00 #¡DIV/0!

5. Private Sector -118.00 -69.00 -69.00 -41.53 0.00

F. Other Net Accounts -500.40 -440.13 -447.82 -10.51 1.75

III. Colones in Circulation Plus Liquidity Reserves 2,414.08 2,333.37 2,354.13 -2.48 0.89

A. Colones in circulation 1/ 4.72 4.52 4.52 -4.22 -0.09

B. Liquidity Reserves 1/ 2,409.36 2,328.85 2,349.61 -2.48 0.89

1. Commercial Banks and Financiers 2,362.24 2,276.84 2,296.79 -2.77 0.88

2. Credit Official Institutions 0.93 0.54 0.56 -39.63 4.493. Non-Bank Financiers Intermediaries 46.20 51.47 52.26 13.12 1.54

Variation %2012

2011

August July August p/ Annual Monthly

I.- Net Foreign Assets (1 + 2 + 3) 3,208.13 2,632.85 2,611.90 -18.59 -0.80

1.- Gross Foreign Assets 3,908.05 3,463.36 3,427.88 -12.29 -1.02

a. Central Reserve Bank 2,763.36 2,528.99 2,502.60 -9.44 -1.04

b. Banks and Financiers 1,144.69 934.38 925.28 -19.17 -0.97

2.- Short Term External Liabilities -108.61 -189.03 -186.32 71.56 -1.43

3.- Medium & Long Term External Liabilities -591.31 -641.48 -629.66 6.49 -1.84

II.- Net Domestic Assets (1 + 2 + 3 + 4 + 5) 7,117.36 7,728.00 7,742.47 8.78 0.19

1- Loans and Investmet to Private Sector 8,367.92 8,857.44 8,889.98 6.24 0.37

2- Non Financial Public Sector- Net 456.76 603.50 575.97 26.10 -4.56

3- Liabilities with Non Monetary Financial Institutions -203.31 -367.94 -352.16 73.21 -4.29

4- Liabilities with Private Sector- Securities -118.00 -69.00 -69.00 -41.53 0.00

5.- Other Accounts- Net -1,386.01 -1,296.00 -1,302.32 -6.04 0.49

III- Financial Liabilities (1 + 5) 10,325.49 10,360.85 10,354.37 0.28 -0.06

1- Money & Quasy-Money (M3) = (2 + 3.1 + 4) 9,425.43 9,452.49 9,446.01 0.22 -0.070.00 0.00 0.00 0.00 0.00

2- Numeraire plus Currents Deposits M1 = (2.1 + 2.2) 2,507.01 2,504.42 2,507.13 0.00 0.11

2.1.- Colones in Circulation 1/ 4.62 4.40 4.39 -4.91 -0.20

2.2.- Current Deposits 2,502.39 2,500.01 2,502.74 0.01 0.11

3- Monetary Aggregate M2' = M1 + CD 8,757.35 8,818.98 8,792.12 0.40 -0.30

3.1- Quasy-Money (3.1.1 + 3.1.2) 6,250.34 6,314.57 6,284.98 0.55 -0.47

3.1.1- Saving Deposits 2,775.00 2,846.80 2,819.94 1.62 -0.94

3.1.2- Term Deposits 3,475.34 3,467.77 3,465.04 -0.30 -0.08

4- Other Liabilities 668.09 633.51 653.89 -2.12 3.22

5- Private Capital 900.06 908.36 908.36 0.92 0.00

Variation %2012


5.4 Interest Rate (Percentages)

Source: Banks and Financiers Balances

5.3 Deposits, Securities and Credits of Banks and Financiers

Source: Department of Fiscal and Financial Statistics

Million of US$ Variation Million of US$ Variation Million of US$ Variation

Deposits and Securities

January 10,169.24 2.60 10,058.03 -1.09 10,168.44 1.10

February 10,285.29 3.32 10,112.08 -1.68 10,167.76 0.55

March 10,260.13 3.52 10,219.75 -0.39 10,219.60 0.00

April 10,286.99 3.41 10,240.92 -0.45 10,259.48 0.18

May 10,203.07 3.24 10,049.60 -1.50 10,271.46 2.21

June 10,077.12 1.66 9,980.00 -0.96 10,370.22 3.91

July 10,087.20 2.16 10,267.91 1.79 10,253.31 -0.14

August 10,229.43 2.37 10,214.37 -0.15 10,272.80 0.57

September 10,212.97 2.48 10,201.96 -0.11

October 10,174.54 2.64 10,052.49 -1.20

November 10,265.32 3.15 10,145.68 -1.17

December 10,249.12 1.18 10,105.64 -1.40

Credit to Private Enterprises

January 8,173.61 -4.42 8,040.00 -1.63 8,402.30 4.51

February 8,096.83 -4.57 8,035.30 -0.76 8,442.00 5.06

March 8,096.73 -4.17 8,048.80 -0.59 8,450.20 4.99

April 8,109.39 -3.50 8,112.80 0.04 8,545.40 5.33

May 8,046.40 -4.08 8,078.70 0.40 8,516.20 5.42

June 8,012.09 -3.11 8,063.40 0.64 8,537.90 5.88

July 8,022.56 -2.88 8,093.80 0.89 8,584.50 6.06

August 7,986.47 -2.85 8,069.50 1.04 8,624.40 6.88

September 7,916.93 -3.31 8,135.90 2.77

October 7,930.49 -2.64 8,161.80 2.92

November 8,004.64 -1.91 8,275.40 3.38

December 8,062.96 -1.43 8,416.20 4.38

2010 2011 2012

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

10.0

11.0

J-10

F M A M J J A S O N D J-11


F M A M J J A

%US$ Interest Rate,

Actives and Passives Basics

Passive Rate

Active Rate

Passive Rate Active Rate

Months 180 days Up to 1 Year

January, 2010 3.59 8.60

February 3.57 8.81

March 3.47 8.22

April 3.20 8.23

May 3.10 7.86

June 2.98 7.49

July 2.93 7.47

August 2.78 7.33

September 2.57 7.07

October 2.32 6.89

November 2.09 6.93

December 1.80 6.59

January, 2011 1.70 6.59

February 1.73 6.56

March 1.72 6.41

April 1.68 6.26

May 1.71 6.34

June 1.82 5.63

July 1.81 5.82

August 1.79 5.75

September 1.80 5.89

October 1.75 5.64

November 1.75 5.54

December 1.91 5.43

January, 2012 2.06 5.59

February 2.14 5.61

March 2.15 5.53

April 2.18 5.28

May 2.33 5.66

June 2.49 5.44

July 2.41 5.49

August 2.60 5.71


5.5 Graphics

Source: Department of Fiscal and Financial Statistics

1800

1950

2100

2250

2400

2550

2700

J-10



F M A M J J A

Colones in circulation and Liquidity Reserves, Million of US$

1550

1700

1850

2000

2150

2300

2450

2600

J-10



F M A M J J A

Monetary Aggregate M1',Million of US$

7750

8000

8250

8500

8750

9000

J-10



F M A M J J A

Monetary Aggregate M2'Million of US$

8000

8500

9000

9500

10000

10500

J-10



F M A M J J A

Monetary Aggregate M3',Million of US$

9000

9500

10000

10500

11000

J-10



F M A M J J A

Banks and Financiers Total Deposits,Million of US$

7500

7750

8000

8250

8500

8750

9000

J-10



F M A M J J A

Banks and Financiers Credit to Private Enterprises, Million of US$

Monthly Statistical Bulletin Fiscal Sector August, 2012

6.

1. As of August 2012, the financial performance of the Nonfinancial Public Sector (NFPS) against the

same period of 2011 presented the following results: i) income and NFPS donations reached

US$ 3,223.3 million, higher in 11.7% (US$ 337.9 million) to what was obtained in August 2011, so

the personal property and services transfer tax known as VAT, increased by US$ 81.6 million,

income taxes increased US$ 119.3 million and the tax imports US$ 10.3 million, ii) NFPS

expenditure and net lending were US$ 3,361.0 million, higher in 4.2% (US$ 135.6 million) to the

work on August 2011, primarily because of increased capital spending. iii) Current savings generated

in the period was higher at US$ 262.6 million for the same period of 2011; iv) The overall result of

the month in reference showed a deficit (including grants) of US$ 137.7 million, equivalent to 0.6%

of estimated GDP for 2012.

2. Public investment was US$468.9 million, an increase of 17.0% (US$ 68.1 million) for the month of

August 2011 done mainly to increase in investment experienced by the central government and the

companies of the nonfinancial public sector. Hence, the central government made US$ 304.5 million,

higher by 35.4% (US$ 79.6 million) than that reported in August 2011, the rest of the general

government executed US$ 136.8 million, US$ 13.7 million less than the same period of 2011, NFPE

and executed an investment of US$ 27.7 million.

3. Net external financing was US$ 35.5 million, higher by US$ 61.9 million relative to August 2011.

Disbursements (US$ 208.3 million) are associated with loans from international agencies to finance

projects implemented by different entities of the nonfinancial public sector. The external

amortization totaled US$ 172.9 million; lower by US$647.9 million to those in August 2011 for

bonus payments (US$ 653.5 million) that was made last year.

4. Net domestic financing was US$102.3 million, lower in US$264.3 million for the month of August

2011, mainly because of the lower use of deposits in the Central Bank and the lowest financing

obtained from commercial banks.


6.1 Non Financial Public Sector 1/

Fiscal Execution August in million of US$

Source: Ministry of Finance 1/ In agreement with Legislative Decree # 98 of Sept. 7th 2006, since October 2006, part of the obligations of pensions, are registered out of the Public Not Financial Sector. To August 2012 were paid US$262.7 millions 2/ Figures adjusted for Income and Value Added Tax devolutions (P) Preliminary Figures a/ Percentage values over one thousand are omitted

2011 2012(P)

Transactions Ejec. ( 1 ) Ejec. ( 2 ) 3 = ( 2 - 1 ) 4= ( 3 / 1 ) %

I. Revenues and Grants 2,885.4 3,223.3 337.9 11.7%

A. Current Revenues 2,766.4 3,096.1 329.7 11.9%

1. Tributaries 2/ 2,197.5 2,406.4 208.9 9.5%

2. Non Tributaries 379.0 458.9 79.9 21.1%

3. Public Enterprises Surplus 68.9 103.1 34.3 49.8%

4. Public Financial Institutions Transferences 121.1 127.6 6.5 5.4%

B. Capital Revenues 0.1 0.2 0.0 12.0%

C. Grants 118.8 127.1 8.2 6.9%

II. Expenditures and Net Lending Concession 3,225.5 3,361.0 135.6 4.2%

A. Current Expenditures 2,781.5 2,848.6 67.1 2.4%

1. Consumption 1,805.1 1,846.5 41.4 2.3%

2. Interests 373.3 371.2 -2.2 -0.6%

3. Currents Transferences 603.1 630.9 27.8 4.6%

B. Capital Expenditures 444.3 512.7 68.5 15.4%

1. Gross Investment 400.9 468.9 68.1 17.0%

2. Capital Transferences 43.4 43.8 0.4 0.8%

C. Net Lending Concession -0.3 -0.2 0.1 17.6%

III. Current Saving [ I.A - II.A ] -15.1 247.5 262.6 a/

IV. Primary Saving ( Not Including Interest ) 358.3 618.7 260.5 72.7%

V. Global ( Deficit ) Surplus 0.0 0.0 0.0 0.0%

A. Including Grants -340.1 -137.7 202.4 -59.5%

B. Excluding Grants -458.9 -264.8 194.1 -42.3%

VI. Net External Financing -26.5 35.5 61.9 234.0%

1. Disbursements 794.3 208.3 -586.0 -73.8%

2. Bebt Amortization -820.8 -172.9 -647.9 -78.9%

VII. Net Internal Financing 366.5 102.3 -264.3 -72.1%

1. Central Bank 185.2 65.0 -120.2 -64.9%

2. Commercial Banks 164.0 53.8 -110.2 -67.2%

3. Financial Institutions 0.0 0.0 0.0 0.0%

4. Bonus outside the Banking System 5.5 -29.6 -35.1 -638.6%

5. Privatization and Stocks Sale 0.0 0.0 0.0 0.0%

6. Previsional pay debt 0.0 0.0 0.0 0.0%

7. Others 11.9 13.1 1.3 10.8%

Variation 12 / 11


6.2 Consolidated Central Government Budgetary Execution August in million of US$

Source: Ministry of Finance 1/ Figures adjusted for Income and Value Added Tax devolutions (P) Preliminary Figures

2011 2012(P)

Variation 12 / 11


I. Revenues and Grants 2,425.6 2,642.2 216.7 8.9%

A. Current Revenues 2,306.6 2,520.6 214.0 9.3%

1. Tributaries 2,197.5 2,406.4 208.9 9.5%

2. Non Tributaries 105.8 106.4 0.6 0.6%

3. Transferences from Public Enterprises 3.3 7.7 4.5 135.7%

4. Transferences from Public Financial Institutions 0.0 0.0 0.0 0.0%

B. Capital Revenues 0.1 0.2 0.0 12.0%

C. Grants 118.8 121.5 2.7 2.2%

II. Expenditures and Net Lending Concession 2,737.5 2,815.7 78.2 2.9%

A. Current Expenditures 2,259.4 2,291.5 32.1 1.4%

1. Remunerations 810.7 851.1 40.4 5.0%

2. Goods and Services 377.8 352.3 -25.5 -6.7%

3. Interests 367.2 364.4 -2.8 -0.8%

4. Transferences to: 703.7 723.7 20.1 2.9%

a. Rest of the General Government 327.0 344.2 17.2 5.3%

b. Public Enterprises 0.3 0.3 0.0 0.0%

c. Public Financial Institutions 3.6 2.4 -1.2 -33.7%

d. Private Sector 367.5 373.8 6.3 1.7%

e. Rest of the World 5.3 3.1 -2.2 -41.4%

B. Capital Expenditures 481.7 528.6 46.9 9.7%

1. Gross Investment 224.9 304.5 79.6 35.4%

2. Transferences to: 256.8 224.1 -32.6 -12.7%

a. Rest of the General Government 195.2 178.1 -17.1 -8.7%

b. Public Enterprises 18.2 2.2 -15.9 -87.7%

c. Public Financial Institutions 1.1 0.0 -1.1 -100.0%

d. Private Sector 42.3 43.8 1.5 3.6%

C. Net Lending Concessions -3.6 -4.4 -0.9 -24.4%

1. Rest of the General Government -2.7 -3.7 -1.0 -36.6%

2. Public Enterprises -0.6 -0.5 0.1 11.2%

3. Public Financial Institutions 0.0 0.0 0.0 0.0%

4. Private Sector -0.3 -0.2 0.1 17.6%

III. Current Saving [ I.A - II.A ] 47.2 229.0 181.9 385.5%

IV. Primary Saving (Not Include Interests) 414.4 593.4 179.0 43.2%

V. Global Surplus ( Deficit ) 0.0 0.0 0.0 0.0%

A. Including Grants -312.0 -173.5 138.5 -44.4%

B. Excluding Grants -430.8 -295.0 135.8 -31.5%

VI. Net External Financing -28.7 22.3 50.9 177.7%

1. Disbursements 777.3 175.8 -601.5 -77.4%

2. Debt Amortization -806.0 -153.6 -652.4 -80.9%

VII. Net Internal Financing 340.6 151.2 -189.4 -55.6%

1.Central Bank 184.7 67.3 -117.3 -63.5%

2. Commercial Banks 232.2 54.8 -177.5 -76.4%


4. Bonus outside the banking system -43.8 28.6 72.4 165.4%

5. Privatization and Stocks Sale 0.0 0.0 0.0 0.0%

6. Others -32.5 0.5 33.0 101.4%


6.2.1 Central Government Ordinary Budget’s Total Revenues August in million of US$

Source: Ministry of Finance 1/ Figures adjusted for Income and Value Added Tax devolutions (P) Preliminary Figures a/ Percentage values over one thousand are omitted.

2011 2012(P)


I. Ajusted Current Revenues 2,294.4 2,509.2 214.7 9.4

A. Tributaries 2,197.5 2,406.4 208.9 9.5

1. Income Tax 825.5 944.8 119.3 14.4

2. Property tax 10.8 12.1 1.4 12.6

3. Custom Duties 104.2 114.5 10.3 9.8

4. Consumption taxes 90.9 92.9 2.0 2.2

5. Value Added Tax (IVA) 1,051.0 1,132.6 81.6 7.8

6. Special Contributions (FOVIAL) 46.7 48.4 1.6 3.4

7. Others 68.3 61.2 (7.1) (10.4)

0.0 0.0 0.0 0.0

C. Non Tributaries and Others 96.9 102.8 5.8 6.0

1. Assets Revenues 2.5 1.7 (0.8) (31.9)

2. Public Enterpise Surplus 3.3 7.7 4.5 135.7

3. Sale of restricted artícles 8.6 4.9 (3.7) (43.5)

4. Tariff and duties for public services 25.5 32.9 7.3 28.7

5. Fines 19.0 21.7 2.8 14.5

6. Others 38.1 33.9 (4.2) (11.0)

II.Capital Revenues 8.3 20.7 12.5 150.9

A. Asset's Sale 0.1 0.2 0.0 0.0

B. Transferences from: 8.1 20.6 12.4 153.2

1. S S S I 0.0 0.0 0.0 0.0

2. CRB 0.0 0.0 0.0

3. Rest of the world 8.1 20.6 12.4 153.2

III.Total Revenues ( I + II ) 2,302.7 2,529.9 227.2 9.9

Variation 12 / 11


Source: Ministry of Finance 1/ It includes revenues of fixed and financial assets (P) Preliminary Figures a/ Percentage values over one thousand are omitted.

6.3 Rest of the Central Government Fiscal Execution August in million of US$

2011 2012(P)

Variation 12 / 11


I. Revenues and Grants 900.9 921.2 20.4 2.3%

A. Current Revenues 705.7 743.1 37.5 5.3%

1. Contribution to Social Security 254.3 266.7 12.4 4.9%

2. Goods and Services Sale 1/

3.2 4.5 1.3 40.4%

3. Transferences from: 448.1 471.9 23.7 5.3%

a. Central Government 327.0 344.2 17.2 5.3%

b. Public Enterpises 0.0 0.0 0.0 0.0%

c. Financial Institutions Public Transferences 121.1 127.6 6.5 5.4%

B. Capital Revenues 195.2 178.1 (17.1) -8.7%

1. Asset's Sale 0.0 0.0 0.0 0.0%

2. Transferences from: 195.2 178.1 (17.1) -8.7%

a. Central Government 195.2 178.1 (17.1) -8.7%

b. Public Enterpises 0.0 0.0 0.0 0.0%

C. Grants 0.0 0.0 0.0 0.0%

II. Expenditures and Net Lending Concession 904.5 926.6 22.1 2.4%

A. Current Expenditures 754.0 789.8 35.8 4.7%

1. Remunerations 393.8 403.8 10.0 2.5%

2. Goods and Services 214.1 233.3 19.1 8.9%

3. Interests 0.5 0.4 (0.1) -15.0%

4. Transferences to: 145.7 152.4 6.7 4.6%

a. Private Sector 145.7 152.4 6.7 4.6%

b. Rest of the World 0.0 0.0 0.0 0.0%

B. Capital Expenditures 150.5 136.8 (13.7) -9.1%

1. Gross Investment 150.5 136.8 (13.7) -9.1%

2. MIHAC Transferences 0.0 0.0 0.0 0.0%

C. Net Concession Lending. Private Sector 0.0 0.0 0.0

III. Current Saving ( I.A - II.A ) (48.3) (46.7) 1.7 3.4%

IV. Primary Saving ( Not Include Interests ) (47.9) (46.3) 1.6 3.3%

V. Global Surplus ( Deficit ) 0.0 0.0 0.0 0.0%

A. Including Grants (3.7) (5.4) (1.7) 46.2%

B. Excluding Grants (3.7) (5.4) (1.7) 46.2%

VI. Net External Financing (0.9) 1.2 2.0 237.3%

1. Disbursements 0.0 2.0 2.0 100.0%

2. Debt Amortization (0.9) (0.8) 0.0 -2.6%

VII. Net Internal Financing 4.5 4.2 (0.3) -7.1%

1.Central Bank 0.5 0.1 (0.4) -77.7%

2. Commercial Banks (49.9) 17.3 67.2 134.6%


4. Bonus outside the banking system 0.0 0.0 0.0

5. Others 54.0 (13.2) (67.2) -124.4%


6.4 Non Financial Public Enterprises Fiscal Execution August in million of US$

Source: Ministry of Finance (P) Preliminary Figures

2011 2012(P)Variation 12 / 11


I. Operation Revenues 230.0 307.9 77.9 33.9

1. Sale of Services 182.9 292.1 109.2 59.7

2. Others 47.0 15.8 (31.3) (66.4)

II. Others Revenues 15.6 81.2 65.6 420.6

1. Assets Revenues 6.6 76.6 69.9 1054.6

2. Various 9.0 4.6 (4.3) (48.3)

III. Operation Expenditures 161.1 204.8 43.7 27.1

1. Remunerations 46.4 47.3 0.8 1.8

2. Goods and Services 78.8 94.1 15.2 19.3

3. Purchase of fuel 0.0 0.0 0.0

4. Purchase of energy 0.0 32.1 32.1 100.0

5. Value Added Tax 5.3 6.7 1.3 24.7

6. Others Operation Expenditures 30.5 24.7 (5.8) (19.0)

IV. Others Expenditures 17.6 20.2 2.6 14.6

1. Interests 5.6 6.4 0.8 13.4

a. By Foreign Debt 5.2 5.7 0.5 9.1

b. By Domestic Debt 0.4 0.7 0.3 72.5

2. Direct Taxes 4.7 2.2 (2.4) (52.3)

3. Various 4.0 3.8 (0.2) (4.8)

4. Dividend to Government 3.3 7.7 4.5 135.7

V. Operation Surplus [ I - III ] 68.9 103.1 34.3 49.8

VI. Net Current Transferences (80.7) (99.0) (18.3) 22.6

1. From Government 0.3 0.3 (0.0) 0.0

2. To Government 0.0 0.0 0.0

3. To Private Sector 81.0 99.2 18.3 22.5

VII. Current Saving [ V + II - IV + VI ] (13.9) 65.2 79.1 569.0

VIII. Foreign Grants 0.0 5.6 5.6 100.0

IX. Capital Transferences 18.2 2.2 (15.9) (87.7)

1. From Government 18.2 2.2 (15.9) (87.7)

2. From SETEFE 0.0 0.0 0.0 0.0

3. From Private Sector 0.0 0.0 0.0 0.0

X. Capital Revenues 0.0 0.0 0.0 0.0

XI. Capital Expenditures 25.4 27.7 2.2 8.7

1. Gross Investment 25.4 27.7 2.2 8.7

XII. Net Lending Concession 0.0 0.0 0.0 0.0

XIII. Global Surplus ( Deficit ) [VII+VIII+IX + X - XI ] (21.2) 45.3 66.5 314.1

XIV. Net External Financing 3.1 12.0 8.9 290.9

1. Disbursements 17.0 30.5 13.5 79.4

2. Debt Amortization (13.9) (18.5) 4.6 32.8

XV. Net Domestic Financing 18.1 (57.3) (75.4) 416.8

1. Central Bank 0.0 (2.5) (2.5) 0.0

2. Commercial Banks (18.3) (18.3) (0.0) (0.1)

3. Financiers 0.0 0.0 0.0 0.0

4. Central Government Loans (0.6) (0.5) 0.1 11.2

5. Financing from other Financial Sector 0.0 0.0 0.0 0.0

6. Bonus Outside the Banking System 49.3 (58.2) (107.5) (218.3)

7. Privatization and Stock Sales 0.0 0.0 0.0 0.0

8. Ohers (12.3) 22.2 34.5 280.2


6.5 Total Public Debt End Month Balance. In million of US$

Source: Central Reserve Bank and Ministry of Finance

6.6 Graphics

2011 2012

Transactions July August July August

Total Public Debt 12,507.9 12,534.4 13,381.7 13,354.3

A- Public Sector 12,375.5 12,402.0 13,250.0 13,222.6

I- Non Financial Public Sector 9,954.8 9,958.5 10,380.6 10,386.4

Central Government 9,392.1 9,400.7 9,836.4 9,833.8

LETES 445.1 463.2 723.0 727.9

Rest of the Central Government 61.2 61.0 74.9 74.0

Non Financial Public Enterprises 501.5 496.8 469.3 478.6

II- Financial Public Sector 2,420.7 2,443.5 2,869.4 2,836.2

B- Central Bank 132.4 132.4 131.7 131.7

Foreign Public Debt 7,098.7 7,056.1 7,174.4 7,188.5

A- Public Sector 6,966.3 6,923.7 7,042.7 7,056.8





II- Financial Public Sector 255.8 258.9 262.9 249.6

B- Central Bank 132.4 132.4 131.7 131.7

Domestic Public Debt 5,409.2 5,478.3 6,207.3 6,165.8

A- Public Sector 5,409.2 5,478.3 6,207.3 6,165.8





II- Financial Public Sector 2,164.9 2,184.6 2,606.5 2,586.6

-100

-50

0

50

100

150

200

250

300

350

400

Jan Feb Mar Apr May Jun Jul Aug

Current Saving of Non Financial Public Sector

Million of US$

Exec. 2011 Exec. 2012

0

50

100

150

200

250

300

350

400

450

500


Investment of Non Financial Public Sector

Million of US$

Exec. 2011 Exec. 2012


-400

-350

-300

-250

-200

-150

-100

-50

0

50

100

150

200


Surplus (Deficit) Including Grants of Non Financial Public

Sector, Million of US$

Exec. 2011 Exec. 2012

-100.0

0.0

100.0

200.0

300.0

400.0

500.0

600.0

700.0


Net Foreign Financing to Non Financial Public Sector, Million of US$

Exec. 2011 Exec. 2012

-700

-600

-500

-400

-300

-200

-100

0

100

200

300

400


Net Domestic Financing to Non Financial Public Sector,

Million of US$

Exec. 2011 Exec. 2012

-700

-600

-500

-400

-300

-200

-100

0

100

200


Net Domestic Financing of CRB to Non Financial Public

Sector, Million of US$

Exec. 2011 Exec. 2012

0

50

100

150

200

250

300

350

400


Current Saving of Central Government Million of US$

Exec. 2011 Exec. 2012

0

50

100

150

200

250

300

350


Investment of Central GovernmentMillion of US$

Exec. 2011 Exec. 2012

-350

-300

-250

-200

-150

-100

-50

0

50

100

150

200


Surplus (Deficit) Including Grants of Central Government, Million of US$

Exec. 2011 Exec. 2012

-100

0

100

200

300

400

500

600

700


Net Foreign Financing to Central GovernmentMillion of US$

Exec. 2011 Exec. 2012


-700

-600

-500

-400

-300

-200

-100

0

100

200

300

400


Net Domestic Financing to Central GovernmentMillion of US$

Exec. 2011 Exec. 2012

-700

-600

-500

-400

-300

-200

-100

0

100

200


CRB Domestic Financing to Central GovernmentMillion of US$

Exec. 2011 Exec. 2012

-50

-45

-40

-35

-30

-25

-20

-15

-10

-5

0


Current Saving of Rest of General GovernmentMillion of US$

Exec. 2011 Exec. 2012

0

25

50

75

100

125

150

175


Investment of Rest of General GovernmentMillion of US$

Exec. 2011 Exec. 2012

-10

-8

-6

-4

-2

0

2

4

6


Surplus (Deficit) Including Grants of Rest of General Government, Million of US$

Exec. 2011 Exec. 2012

-1.0

-0.5

0.0

0.5

1.0

1.5


Net Foreign Financing to Rest of General Government, Million of US$

Exec. 2011 Exec. 2012

-6

-4

-2

0

2

4

6

8


Net Domestic Financing to Rest of General Government, Million of US$

Exec. 2011 Exec. 2012

-0.5

0.0

0.5


CRB Domestic Financing to Rest of General Government, Million of US$

Exec. 2011 Exec. 2012


Source: Ministry of Finance

-40

-30

-20

-10

0

10

20

30

40

50

60

70


Current Saving of Non-Financial Public Enterprises

Million of US$

Exec. 2011 Exec. 2012

0

5

10

15

20

25

30


Investment of Non-Financial Public Enterprises

Million of US$

Exec. 2011 Exec. 2012

-50

-40

-30

-20

-10

0

10

20

30

40

50


Surplus (Deficit) of Non-Financial Public Enterprises,

Million of US$

Exec. 2011 Exec. 2012

-6

-3

0

3

6

9

12

15


Net Foreign Financing to Non-Financial Public

Enterprises, Million of US$

Exec. 2011 Exec. 2012

-60

-50

-40

-30

-20

-10

0

10

20

30

40

50


Net Domestic Financing to Non-Financial Public

Enterprises, Million of US$

Exec. 2011 Exec. 2012

0

25

50

75

100

125


Operation Surplus Non Financial Public Enterprises,

Million of US$

Exec. 2011 Exec. 2012

Monthly Statistical Bulletin Stock Market August 2012

7.

1. The volume of transactions during August 2012 on the Stock Exchange was US$ 249.9 million,

surpassing by 27.7% (US$ 54.2 million) the amount traded in July 2012, driven mainly by increases

in primary (US$ 31.8 million) and secondary (US$ 10.6 million) markets. The more dynamic

primary was driven by increased demand for financing from Banco Agrícola (US$ 19.1 million)

and La Hipotecaria (US$ 3.0 million) and securitization of credit union society Apoyo Integral for

US$ 15.8 million.

2. The sectors that turned the most to the repo market for liquidity were individuals concentrating

46.4% (US$ 56.5 million) of transactions, followed by portfolio managers with 26.0%

(US$ 31.6 million), service companies with 10.6% (US$ 13.0 million) and other participants with

17.0% (US$ 20.7 million), while banks continue to stand out as the main providers of liquidity

demanded with a share of 87.8% (US$106.9 million), insurers with 8.1% (US$ 9.8 million) and

other investors with 4.1% (US$ 5.1 million).

3. The weighted average yield of repos remained relatively stable, coming this month to 1.04%, higher

by only 8 percentage points relative to July 2012.

Monthly Statistical Bulletin Stock Market August 2012

Source: Department of Financial System Stability

7.1 Graphics

0

100

200

300

400

500

600

700

aug09 feb10 aug10 feb11 aug11 Feb12 aug12

Monthly Amount TradedMillions of Dollars

94.8%

5.2%

0%

20%

40%

60%

80%

100%

Public Private

Repo Operations, According to Issuer

10%

25%

40%

55%

70%

85%

100%

aug09 feb10 aug10 feb11 aug11 Feb12 aug12

Repo as Percentage of Market Operations

84.8%

10.5%4.8%

0%

20%

40%

60%

80%

100%

1-7 Days 8-15 Days 16 Days and more

Repo Operations, According to Term

25.9%

8.4%

48.7%

0.0%

17.0%

0%

15%

30%

45%

60%

75%

Primary Secondary Repo Stock International

Negotiated Amount, According to Market

0.74%1.08%1.03%

1.23%

2.58%

3.88%

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%

Public Repos Private Repos

Yields of Repos From 1 to 7 Days

Min. Yield Avg. Yield Max. Yield

monthly statistical bulletin · 2012. 10. 19. · monthly statiscal bulletin advanced release...

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