QUITO -- Ecuador's four-quarter rolling current account deficit widened to 1.9% of GDP in the first quarter of 2015 from 0.6% of GDP the previous quarter, according to the country's central bank.
The trade deficit expanded to 1.4% of GDP from 0.1% of GDP, given the decline in oil exports related to lower oil prices.
The services and income balances remained practically unaltered at 1.1% of GDP and 1.5% of GDP respectively.
The capital account barely managed to cover the current account deficit during this period, also totaling 1.9% of GDP.
Most inflows came through portfolio investments, fueled by sovereign external bond placements which totaled $2.7 billion during the period.
Other investments, which registers loans to the government including net oil pre-sales, had a 0.8% of GDP deficit, as the equivalent of 4.1% of GDP in loans and commercial credits that the government received were outweighed by increased assets abroad.