C ENTRALE B ANK VAN A RUBA MONEY SUPPLY WENTT DOWN Summaary of the Monthly Bulletin of May 2014 ess Release1 Pre
During the mo
onth of May 2014, moneyy supply contracted by Affl. 57.1 million
n to Afl. 3,4077.0 million, re
esulting from
m an A
Afl. 55.5 millio
on drop in th
he net foreig
gn assets (ex
xcluding revaaluation diffeerences of go
old and foreiign exchange
e holdings) and an Afl. 1.6 millio
on decrease in the net domestic asseets. The Afl. 5
55.5 million c
contraction i in net foreign
n ominantly due
e to net transsfers to notiffied foreign a
accounts of r
resident companies. assetts was predo
Th
he slight deccline in the do
omestic component of th
he money sup
pply was bro
ought about b
by a decrease in domestic credit of Afl. 10.5
5 million, while the non‐ccredit related
d balance sheeet items rosse by Afl. 8.9
9 million. Do
omestic credit nk due to an
n Afl. 3.9 million decrease
e in net claim
ms of the baanking sectorr on the pub
blic sector an
nd an Afl. 6.6
6 shran
millio
on decline in claims on the private secctor. Th
he fall in claim
ms on the prrivate sector reflected a d
decline in loaans to enterp
prises of Afl. 17.0 million (
(‐1.3 percent)), whicch was partia
ally mitigated
d by a rise in consumer crredit and hou
using mortgaages of, Afl. 6.0 million (
(+1.0 percent) and A
Afl. 4.9 millio
on (+0.5 perce
ent), respecttively. Th
he consumerr price index (CPI) for Maay 2014 registtered a 0.3 p
percent increease, comparred to the same month of 2013.. The main co
ontributor to this increase
e was the com
mponent “Trransport.” Exxcluding the effect of foo
od and energy
y (which partly affe
ects the housing and tran
nsport comp
ponents), thee core CPI rem
mained unch
hanged, comp
pared to May
y nflation rate d
declined by 1
.0 percent in
n May 2014. 2013.. The 12‐montth average in
In
n May 2014, t
the number o
of stay‐over visitors totaled 78,087, 7
7.3 percent (+5,341 visitors) higher th
han May 2013
3. This rise was ma
ainly the resu
ult of increases in the number of vissitors from LLatin Americca and North
h America off, respe
ectively, 3,6118 visitors (+
+23.6 percen
nt) and 2,2733 visitors (+44.7 percent).. The upsurg
ge in the Laatin American
n markket was mosttly associated
d with a 37.7 percent (+3,,401 visitors) rise in the nu
umber of visitors from Ve
enezuela. The
e grow
wth in the No
orth American
n market wass largely attrributed to an increase in a
arrivals from the United S
States (+2,149
9 visito
ors or 4.7 perrcent). Th
he European
n market registered an ovverall decline
e of 2.4 perccent (‐143 vissitors) in Mayy 2014, comp
pared to May
y 2013,, associated mostly with a decrease of 10.2 perccent (‐155 vissitors) in arrivals from th
he United Kin
ngdom and a a
decliine of 4.1 perrcent (‐134 visitors) in arrrivals from th
he Netherlan
nds. The num
mber of cruisse visitors fell by 8,092 or 3
in Ma
ay 2014, com
mpared to the
e same montth of the preevious year. The numberr of ship calls 30.3 percent to 34,780 decre
eased to 13 in
n May 2014, d
down from 16
6 in May 20133. In
n May 2014, t
otal governm
ment revenue
e amounted to Afl. 83.1 m
million, Afl. 19
9.6 million low
wer than the
e same month
h of th
he previous year. This fall was the resu
ult of an Afl. 2
20.7 million d
drop in non‐ttax revenue, which was partially offset by an
n Afl. 1.1 milllion increase in tax reven
nue. The con
ntraction in n
non‐tax revenue was larg
gely broughtt about by an
n incidental receip
pt of Afl. 25..0 million in May 2013 related r
to th
he transfer of long‐lease
e land for tthe hospital’s ovation and expansion project. p
Whe
en excluding
g the aforem
mentioned iincidental re
eceipt, total government reno
nue shows a
a rise of Afl. 5
5.4 million, re
eflecting slight increases in revenue f
from profit taax (+Afl. 2.0 million), land
d reven
1
The E
English original prevails. J.E. Irausquin Bo
J
oulevard 8 P.O.. Box 18 Oranjestad Aruba Tel. nr.: (297) 525‐22100 Fax nr.: (29
97) 525‐2101 E‐mail: c
cbaua@setarne
et.aw Website: www.cbaruba.o
org tax (+Afl. 1.3 million), foreign exchange tax (+Afl. 0.9 million), taxes on other services (+Afl. 0.9 million), and turnover tax (BBO) (+Afl. 0.4 million). In contrast, receipts from taxes on commodities fell by Afl. 2.4 million, reflecting an Afl. 3.7 million drop in import duties. Centrale Bank van Aruba July 24, 2014 For further information, please visit our website (www.cbaruba.org) or contact the Statistics Department of the Centrale Bank van Aruba, tel. +297‐525‐2100, e‐mail [email protected] 2 J.E. Irausquin Boulevard 8 P.O. Box 18 Oranjestad Aruba Tel. nr.: (297) 525‐2100 Fax nr.: (297) 525‐2101 E‐mail: [email protected] Website: www.cbaruba.org