Kiribati - Balance of payments



Continued deficits in the trade balance are often met by grants from the UK to the government's current and capital accounts. Foreign aid, in fact, accounts for between 25% and 50% of GDP.

The US Central Intelligence Agency (CIA) reports that in 1998 the purchasing power parity of Kiribati's exports was US $6 million while imports totaled US $44 million resulting in a trade deficit of US $38 million.

The International Monetary Fund (IMF) reports that in 1994 Kiribati had exports of goods totaling US $6 million and imports totaling US $27 million. The services credit totaled US $18 million and debit US $17 million. The following table summarizes Kiribati's balance of payments as reported by the IMF for 1994 in millions of US dollars.

Kiribati

Current Account 1
Balance on goods -21
Balance on services 0
Balance on income 15
Current transfers 7
Capital Account 3
Financial Account -5
Direct investment abroad 0
Direct investment in Kiribati 0
Portfolio investment assets -7
Portfolio investment liabilities
Other investment assets
Other investment liabilities 1
Net Errors and Omissions -5
Reserves and Related Items 6
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