Balance of payments surplus: $73m Current Account payments: $427m Receipts: $500m Merchandise imported: $170m Exports: $8m Bermuda's balance of payments surplus increased by 16.4 percent to $73 million in the third quarter of 2000 compared to the same period the year before, according to statistics released by the Bermuda Monetary Authority.

In the report on the balance of payments estimates for the quarter to 30 September, 2000, over $70 million more came into the country than was paid out. Current account payments were $427 million, while receipts stood at $500 million.

The balance of payments shows the movement of goods, services and financial transactions between one country and the rest of the world and is a strong economic indicator.

In the third quarter $427 million was taken out of the country in payment of imports, shipping costs, travel, investment income and professional, managerial, technical services and other goods and services.

But the Island received payments of $500 million for the same kind of goods and services, virtually unchanged from the same period last year.

In money terms the balance of payments is the total of all receipts from abroad and all payments to recipients abroad. All receipts and payments of whatever nature are included, whether they be payments and receipts for non-commercial purposes, such as legacies or pension, for goods sold or services rendered, for investment purposes, on behalf of the Government or of private persons and agencies.

$170 million worth of merchandise was imported -- down 14.6 percent on the same period the year before. Exports stood at $8 million, down 27.3 percent on the same quarter of 1999, leaving a deficit of $162 million.

To bring these goods on to the Island cost $28 million, up 7.6 percent from the period the year before, while shipping and transportation exported out of Bermuda cost $5 million, the same as the year before. The shipping and other transportation deficit estimate stands at $23 million.

In the area of travel, the Island saw $79 million brought in, while $154 million was spent on the Island (noted as receipts), leaving a net balance of $75 million.

Investment income in current account payments -- the payments and receipts for immediate transaction, such as the sale of goods and rendering of services and the capital -- is listed as $18 million and as $49 million in receipts, leaving the net balance as $31 million.

The money spent on professional, manual and technical services on the current account stands at $24 million, while in receipts this sector took the highest category on the table of $250 million.

In the current account, other unspecified goods, services and income were recorded at $62 million and current transfers at $46 million.

The receipts of other goods, services and income came in at $31 million and current transfers at $3 million.

The capital and financial account, which is made up of capital transfers, long-term investment and short-term investment, recorded a net loss for the quarter of $58 million, compared to a $66 million loss the year before.

A statement from the Bermuda Monetary Authority said: "The balance of payments estimates are, to a large extent, based on estimated and historical data; they should therefore be interpreted with a suitable degree of caution.

The estimates for professional, managerial and technical services receipts for 1999 and 2000 have been revised in light of the findings of International Companies 1999, a study conducted by Dr. Brian Archer as a consultant to the Ministry of Finance.'' BUSINESS BUC