Bermuda’s financial balance gets good rating

Posted by on Oct 21, 2010 in Local News & Alerts | 0 comments

BETTER economic news emerged today via the Government Department of Statistics which reported an increase in the balance of payments.

The figures are reflective of the second quarter of the year. The surplus came in at more than $260 million — representing a $90 million increase year-over-year.

The balance of payments is a statistical statement that systematically summarizes economic transactions of a person in Bermuda compared to the rest of the world.

The report further reveals that service transactions realized a surplus of $132 million for the quarter.

It represented a $32 million increase year-over-year.

Meanwhile, Bermuda’s asset accounts recorded a net inflow of $182 million in the second quarter of this year.This is in contrast to the $375 million net outflow recorded in the same quarter a year ago.

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