RAMALLAH, February 6, 2012 (WAFA) - The deficit value of the Balance of Payments in 2010 amounted to $690.9 million (8.3% of the GDP in current prices), compared with a deficit in year 2009 which amounted to $712.5 million, according to a Palestinian Central Beureau of Statistics report on Monday.

The report said that the deficit in the Trade Balance of goods amounted to $3,652.8 million (43.8% of the GDP in current prices); the deficit increased by 4.2% compared with the year 2009.

It said, the deficit in Services Balance amounted to $312.1 million reflecting a decrease of 11.3% compared with the year 2009.

The decline in the deficit of Services Balance was caused by the increase of the exports in Government services, and Travel Services in addition to the decrease of the imports in Communication Services on other side.

The surplus in Income Balance increased by 25.3% compared with the year 2009 and amounted to $1,098.1 million due to surplus in Compensations of Employees working in Israel which reached $991.2 million reflecting an increase of 35.7% compared with 2009, it said.   

Meanwhile,  the investments income received from abraod amounted to $135.8 million showing an increase of 8.9% in year 2010 compared with 2009.

The report said that the increase in the investments income was mainly caused by the increase in the earnings received on Palestinian Foreign Direct Investments (FDI) and Portfolio Investments, invested abroad.

M.H./F.R.