|
|
|
Current account
|
|
|
|
|
|
|
1 |
Gross value added
|
Q4 2019
|
831,798
|
822,838
|
804,582
|
|
|
2 |
Less: Consumption of fixed capital
|
Q4 2019
|
297,368
|
295,059
|
288,985
|
|
|
3 |
Equals: Net value added
|
Q4 2019
|
534,430
|
527,779
|
515,597
|
|
|
4 |
Compensation of employees (paid)
|
Q4 2019
|
540,909
|
535,847
|
521,217
|
|
|
5 |
Operating surplus, net
|
Q4 2019
|
-6,479
|
-8,068
|
-5,620
|
|
|
6 |
Net national income/Balance of primary incomes, net
|
.
|
.
|
.
|
.
|
|
|
7 |
Operating surplus, net
|
Q4 2019
|
-6,479
|
-8,068
|
-5,620
|
|
|
8 |
Taxes on production and imports, receivable
|
Q4 2019
|
177,248
|
171,485
|
180,340
|
|
|
9 |
Subsidies (paid)
|
Q4 2019
|
-81,370
|
-81,961
|
-80,685
|
|
|
10 |
Property income received, net
|
.
|
.
|
.
|
.
|
|
|
11 |
Net national income/Balance of primary incomes, net
|
.
|
.
|
.
|
.
|
|
|
12 |
Plus: Current taxes on income, wealth, etc. (received)
|
.
|
.
|
.
|
.
|
|
|
13 |
Plus: Social benefits (received)
|
Q4 2019
|
1,415,072
|
1,403,955
|
1,351,387
|
|
|
14 |
Less: Social contributions (paid)
|
Q4 2019
|
2,402,931
|
2,377,312
|
2,233,147
|
|
|
15 |
Plus: Other current transfers (received)
|
Q4 2019
|
63,576
|
86,350
|
70,260
|
|
|
16 |
Less: Other current transfers (paid)
|
Q4 2019
|
677,785
|
668,348
|
648,160
|
|
|
17 |
Equals: Disposable income, net
|
.
|
.
|
.
|
.
|
|
|
18 |
Less: Final consumption expenditures
|
Q4 2019
|
1,132,965
|
1,121,060
|
1,073,132
|
|
|
19 |
Equals: Net saving
|
.
|
.
|
.
|
.
|
|
|
|
Capital account
|
|
|
|
|
|
|
20 |
Net saving less capital transfers
|
.
|
.
|
.
|
.
|
|
|
21 |
Net saving
|
.
|
.
|
.
|
.
|
|
|
22 |
Less: Capital transfers paid (net)
|
Q4 2019
|
61,153
|
59,456
|
52,522
|
|
|
23 |
Capital formation, net
|
Q4 2019
|
20,592
|
13,917
|
7,336
|
|
|
24 |
Gross fixed capital formation (acquisition of produced nonfinancial assets)
|
Q4 2019
|
318,887
|
311,167
|
298,710
|
|
|
25 |
Less: Consumption of fixed capital
|
Q4 2019
|
297,368
|
295,059
|
288,985
|
|
|
26 |
Acquisition of nonproduced nonfinancial assets
|
Q4 2019
|
-927
|
-2,191
|
-2,389
|
|
|
27 |
Net lending (+) or borrowing (-), capital account (lines 20-23)
|
.
|
.
|
.
|
.
|
|
|
|
Financial account
|
|
|
|
|
|
|
28 |
Net lending (+) or borrowing (-) (line 27)
|
.
|
.
|
.
|
.
|
|
|
29 |
Net acquisition of financial assets
|
Q4 2019
|
-44,093
|
528,256
|
-24,123
|
|
|
30 |
Monetary gold and SDRs
|
Q4 2019
|
276
|
252
|
188
|
|
|
31 |
Monetary gold
|
Q4 2019
|
0
|
0
|
0
|
|
|
32 |
SDR holdings
|
Q4 2019
|
276
|
252
|
188
|
|
|
33 |
Currency and deposits
|
Q4 2019
|
-61,712
|
537,944
|
-79,358
|
|
|
34 |
Official foreign currencies
|
Q4 2019
|
166
|
128
|
18
|
|
|
35 |
Reserve position in IMF (net)
|
Q4 2019
|
10,764
|
7,012
|
8,196
|
|
|
36 |
Currency and transferable deposits
|
Q4 2019
|
-71,302
|
529,528
|
-87,544
|
|
|
37 |
Time and savings deposits
|
Q4 2019
|
-1,340
|
1,276
|
-28
|
|
|
38 |
Nonofficial foreign currencies
|
Q4 2019
|
0
|
0
|
0
|
|
|
39 |
Debt securities
|
Q4 2019
|
0
|
0
|
0
|
|
|
40 |
Agency- and GSE-backed securities
|
Q4 2019
|
0
|
0
|
0
|
|
|
41 |
Corporate and foreign bonds
|
Q4 2019
|
0
|
0
|
0
|
|
|
42 |
Loans
|
Q4 2019
|
81,096
|
130,368
|
91,632
|
|
|
43 |
Short term
|
Q4 2019
|
79,788
|
119,208
|
86,732
|
|
|
44 |
Consumer credit
|
Q4 2019
|
68,335
|
88,856
|
85,440
|
|
|
45 |
Other loans and advances
|
Q4 2019
|
11,453
|
30,352
|
1,292
|
|
|
46 |
Long term (mortgages)
|
Q4 2019
|
1,308
|
11,160
|
4,900
|
|
|
47 |
Equity and investment fund shares
|
Q4 2019
|
0
|
0
|
-20
|
|
|
48 |
Corporate equities
|
Q4 2019
|
0
|
0
|
0
|
|
|
49 |
Equity in international organizations
|
Q4 2019
|
0
|
0
|
-20
|
|
|
50 |
Equity in government-sponsored enterprises
|
Q4 2019
|
0
|
0
|
0
|
|
|
51 |
Equity investment under Public-Private Inv. Program
|
Q4 2019
|
0
|
0
|
0
|
|
|
52 |
Other accounts receivable
|
Q4 2019
|
-63,753
|
-140,308
|
-36,565
|
|
|
53 |
Trade receivables
|
Q4 2019
|
-4,809
|
-6,068
|
9,643
|
|
|
54 |
Taxes receivable
|
Q4 2019
|
-61,048
|
-139,988
|
-59,280
|
|
|
55 |
Other (miscellaneous assets)
|
Q4 2019
|
2,104
|
5,748
|
13,072
|
|
|
56 |
Net incurrence of liabilities
|
Q4 2019
|
741,729
|
1,433,039
|
719,986
|
|
|
57 |
SDR allocations
|
Q4 2019
|
0
|
0
|
0
|
|
|
58 |
Currency and deposits
|
Q4 2019
|
0
|
0
|
0
|
|
|
59 |
Debt securities
|
Q4 2019
|
741,078
|
2,693,134
|
647,834
|
|
|
60 |
Treasury securities
|
Q4 2019
|
742,054
|
2,695,302
|
647,362
|
|
|
61 |
Federal agency securities
|
Q4 2019
|
-976
|
-2,168
|
472
|
|
|
62 |
Loans
|
Q4 2019
|
-29,024
|
-774,556
|
0
|
|
|
63 |
Insurance, pension and standardized guarantee schemes
|
Q4 2019
|
15,404
|
-440,605
|
50,094
|
|
|
64 |
Insurance reserves
|
Q4 2019
|
332
|
1,632
|
252
|
|
|
65 |
Retiree Health Care Funds
|
Q4 2019
|
28,408
|
19,687
|
17,796
|
|
|
66 |
Claims of pension fund on sponsor
|
Q4 2019
|
-13,336
|
-461,924
|
32,045
|
|
|
67 |
Other accounts payable
|
Q4 2019
|
14,271
|
-44,934
|
22,058
|
|
|
68 |
SDR certificates
|
Q4 2019
|
0
|
0
|
0
|
|
|
69 |
Trade payables
|
Q4 2019
|
2,735
|
1,950
|
25,650
|
|
|
70 |
Other (miscellaneous liabilities)
|
Q4 2019
|
11,536
|
-46,884
|
-3,592
|
|
|
|
Addendum:
|
|
|
|
|
|
|
71 |
Net lending (+) or borrowing (-), financial account (lines 29-56)
|
Q4 2019
|
-785,822
|
-904,783
|
-744,108
|
|
|
|
Other changes in volume account
|
|
|
|
|
|
|
72 |
Total other volume changes
|
.
|
.
|
.
|
.
|
|
|
73 |
Disaster losses
|
Q4 2019
|
0
|
0
|
0
|
|
|
74 |
Other volume changes
|
Q4 2019
|
3,453
|
-10,834
|
87
|
|
|
75 |
Less: Statistical discrepancy ((lines 27-71)/4)
|
.
|
.
|
.
|
.
|
|
|
|
Revaluation account
|
|
|
|
|
|
|
76 |
Nonfinancial assets
|
Q4 2019
|
16,799
|
15,947
|
18,443
|
|
|
77 |
Structures
|
Q4 2019
|
5,698
|
9,966
|
13,601
|
|
|
78 |
Equipment
|
Q4 2019
|
4,094
|
-1,528
|
4,843
|
|
|
79 |
Intellectual property products
|
Q4 2019
|
7,007
|
7,509
|
-1
|
|
|
80 |
Financial assets
|
Q4 2019
|
-1,466
|
-1,482
|
-219
|
|
|
81 |
Monetary gold and SDRs
|
Q4 2019
|
704
|
-985
|
-162
|
|
|
82 |
Currency and deposits
|
Q4 2019
|
-2,170
|
-497
|
-57
|
|
|
83 |
Corporate equities
|
Q4 2019
|
0
|
0
|
0
|
|
|
84 |
Equity investment under Public-Private Inv. Program
|
Q4 2019
|
0
|
0
|
0
|
|
|
85 |
Liabilities (SDR allocations)
|
Q4 2019
|
690
|
-950
|
-157
|
|
|
86 |
Changes in net worth due to nominal holding gains/losses
|
Q4 2019
|
14,643
|
15,415
|
18,381
|
|
|
|
Changes in balance sheet account
|
|
|
|
|
|
|
87 |
Change in net worth ((lines 23+27)/4 + lines 72+86)
|
Q4 2019
|
-346,629
|
-301,445
|
-332,172
|
|
|
|
Balance sheet account (end of period)
|
|
|
|
|
|
|
88 |
Total assets
|
Q4 2019
|
6,190,732
|
6,161,632
|
6,096,270
|
|
|
89 |
Nonfinancial assets
|
Q4 2019
|
3,589,126
|
3,566,132
|
3,503,752
|
|
|
90 |
Structures
|
Q4 2019
|
1,660,890
|
1,657,100
|
1,628,407
|
|
|
91 |
Equipment
|
Q4 2019
|
814,767
|
804,276
|
795,386
|
|
|
92 |
Intellectual property products
|
Q4 2019
|
1,113,469
|
1,104,756
|
1,079,959
|
|
|
93 |
Financial assets
|
Q4 2019
|
2,601,606
|
2,595,500
|
2,592,518
|
|
|
94 |
Monetary gold and SDRs
|
Q4 2019
|
50,753
|
49,980
|
50,807
|
|
|
95 |
Monetary gold
|
Q4 2019
|
4
|
4
|
4
|
|
|
96 |
SDR holdings
|
Q4 2019
|
50,749
|
49,976
|
50,803
|
|
|
97 |
Currency and deposits
|
Q4 2019
|
459,179
|
437,548
|
453,664
|
|
|
98 |
Official foreign currencies
|
Q4 2019
|
20,618
|
20,348
|
20,803
|
|
|
99 |
Reserve position in IMF (net)
|
Q4 2019
|
26,419
|
25,898
|
22,283
|
|
|
100 |
Currency and transferable deposits
|
Q4 2019
|
407,204
|
386,029
|
405,904
|
|
|
101 |
Time and savings deposits
|
Q4 2019
|
2,312
|
2,647
|
2,048
|
|
|
102 |
Nonofficial foreign currencies
|
Q4 2019
|
2,626
|
2,626
|
2,626
|
|
|
103 |
Debt securities
|
Q4 2019
|
493
|
493
|
493
|
|
|
104 |
Agency- and GSE-backed securities
|
Q4 2019
|
1
|
1
|
1
|
|
|
105 |
Corporate and foreign bonds
|
Q4 2019
|
492
|
492
|
492
|
|
|
106 |
Loans
|
Q4 2019
|
1,664,994
|
1,653,267
|
1,562,902
|
|
|
107 |
Short term
|
Q4 2019
|
1,541,187
|
1,529,787
|
1,439,705
|
|
|
108 |
Consumer credit
|
Q4 2019
|
1,319,525
|
1,310,988
|
1,236,272
|
|
|
109 |
Other loans and advances
|
Q4 2019
|
221,662
|
218,799
|
203,433
|
|
|
110 |
Long term (mortgages)
|
Q4 2019
|
123,807
|
123,480
|
123,197
|
|
|
111 |
Equity and investment fund shares
|
Q4 2019
|
70,675
|
70,675
|
69,369
|
|
|
112 |
Corporate equities
|
Q4 2019
|
33,178
|
33,178
|
33,178
|
|
|
113 |
Equity in international organizations
|
Q4 2019
|
70,675
|
70,675
|
69,369
|
|
|
114 |
Equity in government-sponsored enterprises
|
Q4 2019
|
0
|
0
|
0
|
|
|
115 |
Equity investment under Public-Private Inv. Program
|
Q4 2019
|
0
|
0
|
0
|
|
|
116 |
Other accounts receivable
|
Q4 2019
|
322,334
|
350,359
|
422,105
|
|
|
117 |
Trade receivables
|
Q4 2019
|
75,026
|
76,362
|
75,420
|
|
|
118 |
Taxes receivable
|
Q4 2019
|
101,646
|
128,861
|
206,655
|
|
|
119 |
Other (miscellaneous assets)
|
Q4 2019
|
145,662
|
145,136
|
140,030
|
|
|
120 |
Total liabilities and net worth
|
Q4 2019
|
6,190,732
|
6,161,632
|
6,096,270
|
|
|
121 |
Liabilities
|
Q4 2019
|
21,426,034
|
21,050,305
|
20,251,042
|
|
|
122 |
SDR allocations
|
Q4 2019
|
48,836
|
48,146
|
49,117
|
|
|
123 |
Currency and deposits
|
Q4 2019
|
25,322
|
25,322
|
25,322
|
|
|
124 |
Debt securities
|
Q4 2019
|
19,039,898
|
18,593,136
|
17,865,026
|
|
|
125 |
Treasury securities
|
Q4 2019
|
19,018,687
|
18,571,681
|
17,842,086
|
|
|
126 |
Federal agency securities
|
Q4 2019
|
21,211
|
21,455
|
22,940
|
|
|
127 |
Loans
|
Q4 2019
|
15,841
|
23,097
|
0
|
|
|
128 |
Insurance, pension and standardized guarantee schemes
|
Q4 2019
|
1,953,487
|
2,014,500
|
1,976,713
|
|
|
129 |
Insurance reserves
|
Q4 2019
|
52,181
|
52,098
|
51,284
|
|
|
130 |
Retiree Health Care Funds
|
Q4 2019
|
315,397
|
298,787
|
301,023
|
|
|
131 |
Claims of pension fund on sponsor
|
Q4 2019
|
1,585,909
|
1,663,615
|
1,624,406
|
|
|
132 |
Other accounts payable
|
Q4 2019
|
342,650
|
346,104
|
334,864
|
|
|
133 |
SDR certificates
|
Q4 2019
|
5,200
|
5,200
|
5,200
|
|
|
134 |
Trade payables
|
Q4 2019
|
337,649
|
341,100
|
329,827
|
|
|
135 |
Other (miscellaneous liabilities)
|
Q4 2019
|
-199
|
-196
|
-163
|
|
|
136 |
Net worth
|
Q4 2019
|
-15,235,302
|
-14,888,673
|
-14,154,772
|
