Executive Summary
Foreign obligations declared by the private sector totaled US$ 69,289 million as of June 30, 2014, corresponding to US$ 65,589 million to external debts of the non-financial private sector (NFPS) and US$ 3,700 million to commitments of the private financial sector (SPF).
The external commercial debt of the NFPS registered a quarterly increase of US$ 489 million (basically explained by the increase in debt for advances and pre-financing of exports of US$ 352 million), while the financial debt registered a fall of close to US$ 800 million, explained by the capitalization of financial loans in the mining sector for almost US$ 2,400 million. partially offset by increases in liabilities for debt securities and for distributed and unpaid earnings.
The average life of the NFPS external debt as of 30.06.2014 was 1.51 years. While NFPS financial debt had an average life of more than 3 years, NFPS commercial debt ended the quarter with an average life of about one year.
The external debt for advances and pre-financing of exports of goods reached a stock of about US$ 6,800 million as of 30.06.2014. The export sector of oilseeds, cereals and oils experienced a quarterly increase of US$ 171 million (18% year-on-year), to a total stock of US$ 3,815 million, in a context of a 14% increase in year-on-year terms in the collections entered by the sector through the Single and Free Exchange Market (MULC) prior to the shipment of the merchandise.
Liabilities for the financing of imports of goods reached a stock of US$ 24,826 million as of 30.06.14, registering a year-on-year fall of around 6%. The energy sector registered debts of US$ 4,764 million as of 30.06.14, with a quarterly fall of about US$ 80 million and a year-on-year fall of about US$ 632 million.
At the end of June 2014, the foreign obligations declared by the NFPS for services totaled a stock of US$ 8,713 million, with a quarterly increase of US$ 92 million and a year-on-year increase of US$ 860 million (11%).
