C/A surplus remains healthy
The BoP-based current account surplus substantially widened to +US$2.1bn in July (vs. +US$0.9bn prev), bringing up the rolling 12-month cumulative for CA surplus to +US$23.4bn (5.7% of GDP). This was owing to a widening of the trade account surplus to +US$2.7bn (vs.+US$bn pev) following sharp drop in imports (-10.6% YoY). The services & income transfer account deficit narrowed to –US$0.6 bn (vs. US$-1.1bn prev).