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Total stocks of Palestine's external assets at 6 million USD: report

Xinhua, September 26, 2016 Adjust font size:

The total stocks of external assets of Palestine reached 6.020 million U.S. dollars in the second quarter of 2016, the Palestinian Central Bureau of Statistics (PCBS) and the Palestine Monetary Authority (PMA) said in a joint report on Monday.

The report showed that the assets were divided between 7 percent of foreign direct investments abroad, where the portfolio investments reached 18.6 percent, while other foreign investments abroad, which are mainly composed of currency and deposits, reached 67.7 percent, and reserve assets are totaled at 6.7 percent.

At the sectoral level, the report said that the external investments of of the banking sector posted a large share of the external assets, reaching 74.4 percent of the total value of overall external assets.

The net international investment position, which includes the external assets and foreign liabilities, by the end of second quarter of 2016, was at 1.172 million dollars. This shows that the Palestinians' investment abroad outweighs foreign investment in Palestine.

The report added that residents' cash deposits in foreign banks and foreign exchange in the Palestinian economy represent the bulk of the external assets, standing at 65.2 percents of their total value.

Meanwhile, the total stocks of foreign liabilities in Palestine, including non-resident stocks invested in Palestine, reached 4.848 million dollars.

It said gross external debt was at 1.693 million dollars, with the government sector making up 63.5 percent, banking sector 32.8 percent. Other sectors that incurred external debt included financial and non-financial enterprises, and non-governmental organizations.

The international investment position is a record of investment stocks from residents of Palestine in the world, whether they were individuals, institutions or the government. Their assets are compared against investment stocks that are invested by individuals, institutions or government bodies from abroad as liabilities.

The PCBS and PMA explained that the external debt is accounted for through the records on the debt stocks on different economic sectors that are due to non-residents. Endit