Foreign obligations declared by the private sector as of September 30, 2011 totaled
US$ 66,104 million
. Of this total, US$ 62,128 million corresponded to debts of the non-financial
private sector (NFPS) and US$ 3,976 million of the private financial sector (SPF).
The increase of US$ 857 million in private external debt during the third quarter was explained by the
increase of US$ 474 million in SPF obligations (the second largest quarterly
increase recorded since the beginning of the series that began in 2001) and of US$ 383 million in external liabilities of the
NFPS, mainly debt from imports of goods.
The net financing of imports of goods registered a variation of US$ 1,116 million and reached a stock of US$ 24,685 million, an amount that represented 40% of the total stock of external debt declared by the NFPS. The rise in import financing was observed in all major sectors.
The machinery and equipment sector registered the highest quarterly variation (US$ 298 million) followed by the
automotive (US$ 289 million) and chemical, rubber and plastic sectors (US$ 137 million).
External debt for advances and pre-financing of exports of goods decreased by US$ 678
million in the quarter, reaching a stock of US$ 6,462 million. The variation occurred
mainly in the liabilities of exporters of oilseeds, oils and cereals (US$ 586 million)
according to the seasonal behavior of the series.
The financial debt of the NFPS contracted by US$ 217 million. The sector received fresh funds from
abroad for US$ 978 million, mainly in the form of financial loans (78%). These funds
were arranged for an average life of around 4 years and an average interest rate of 5.7%. In the
first nine months of the year, the amount of fresh funds received increased by 43% year-on-year
.
The SPF’s foreign obligations totaled US$ 3,976 million at the end of the third quarter of the
year. The increase observed in the quarter was mainly registered in credit line
obligations (US$ 524 million), which basically corresponded to the financing of imports of
goods and was mainly concentrated in public entities.
The average life of private external debt as of 30.09.11 stood at 1.62 years, with an average
life for NFPS external debt of 1.51 years and 3.46 years for financial sector debt.
