Current account surplus in Kazakhstan plummets to USD 153.1mn in Jan-Sep.

By bne IntelliNews November 18, 2013

Current account surplus shrank to USD 153.1mn in Jan-Sep, according to preliminary data of the National Bank of Kazakhstan (NBK). In the same period of previous year, surplus of USD 3.5bn was reported. The main reason for lower surplus is shrinking surplus in foreign trade balance which went down by 21% y/y to USD 25.1bn. This was sparked by a 3.4% decrease in average oil price (USD 108.7 per 1 barrel of Brent oil) and lower prices for non-ferrous metals exported by Kazakhstan.

Services posted deficit of USD 5.2bn, down from USD 5.8bn in the same period of previous year. At the same time, primary income deficit went down from USD 21.8bn to USD 18.6bn which was led by higher revenues from interest on reserves and assets of the NBK and lower payout of income on direct investment to non-residents.

Capital account deficit stood at USD 6.4mn against a surplus of USD 10.8mn in the first nine months of 2012. Financial account (excluding reserves assets of the NBK) posted deficit of USD 1.02bn, against a surplus of USD 475.6mn in Jan-Sep 2012.

Related Articles

Belgian court unfreezes $21.5bn of Kazakh assets in dispute with Moldovan oligarch Stati

A Belgian court has lifted a freeze on Kazakh National Fund assets worth $21.5bn imposed as part of a dispute with Moldovan oligarch Anatolie Stati, the Kazakh justice ministry said on May 30. It ... more

Astana International Financial Centre seeks exclusive IPO rights for largest state companies

Kazakhstan’s soon-to-be financial hub, Astana International Financial Centre (AIFC), is seeking exclusive rights on initial public offerings (IPOs) of the largest state-run ... more

EEU, Iran sign interim free trade agreement in Astana

The Moscow-led Eurasian Economic Union (EEU) and Iran have signed an interim free trade agreement (FTA), TASS reported on May 17. “The provisional agreement includes an initial list of goods, ... more

Dismiss