Showing posts with label Oil Platforms. Show all posts
Showing posts with label Oil Platforms. Show all posts

Friday, September 14, 2018

Oil Rig Trades Distort Current Account Indicators

As a result of changes in the oil industry’s tax regime, oil rigs boosted imports and exports this year and distorted some foreign-trade indicators.

From January to August, purchases of oil platforms from abroad totaled $7.3 billion, compared to only $1 million in the same period of 2017. Without the oil rigs, imports grew 15.8% through August, and not 23% as shown in the overall figures.