Non-financial companies’ net FX deficit grows: Data

Non-financial companies' net foreign exchange deficit grew by $14.5 billion from April to stand at $115.2 billion in May, according to data from the Central Bank.

Assets of non-financial companies decreased by $4 billion to $166 billion as of the end of May, while their liabilities increased by $10.5 billion to $281 billion, leading to a net FX deficit of $115.2 billion, showed the data.

"On the asset side, while deposits held by domestic banks decreased $5 billion, direct investments abroad, export receivables and securities increased by $627 million, $388 million and $8 million, respectively," said the bank.

On the liability side, domestic loans, external loans -excluding trade credits- and import payables increased by $9 billion, $1,1 billion, and $415 million respectively, compared to April.

In May 2024, short-term domestic loans increased by $4.3 billion to $42.8 billion, while long-term domestic loans increased by $4,73 billion to $83.5 billion.

Short-term external loans rose by $460 million and long-term external loans increased by $1.04 billion.

Non-financial companies' short-term assets declined from $143.9 billion in April to $139.3 billion in April, their short-term liabilities grew from $97.2 billion to $102 billion.

Accordingly, the short-term foreign exchange surplus recorded $37.3 billion, indicating a decrease of $9.4 billion compared to April.

The share of the short-term liabilities in total liabilities was 36 percent as of the end of May, the bank said.