Current account deficit amounted to $4.042bn in Kazakhstan in January-September against a surplus of $6.062bn in the same period of previous year, the preliminary data of the National Bank of Kazakhstan shows.
The drop in the price of oil, the country's main export commodity, is blamed for the deficit. A delay in the devaluation of the national currency, the tenge, is also partly to blame for the deficit as a strong tenge encouraged a shopping spree in Russia and other neigbouring countries, while demand for Kazakh exports fell because of a slowdown in major trading partners - Russia, the EU and China.
According to foreign trade figures for the first nine months of the year, trade surplus plummeted by 65% to $10.7bn against $30.6bn in January-September 2014, as exports fell faster than imports - 42% against 20%.
In 2014, Kazakhstan posted a full-year current account surplus of $5.994bn.
Related Articles
Eurasian Development Bank redeems €286mn Eurobond
The Eurasian Development Bank (EDB) said on March 26 it had fully redeemed a five-year Eurobond, meeting all obligations to investors at maturity. The bank paid a total of €286mn, covering both ... more
Georgia’s TBC Bank weighs up separate IPO for TBC Uzbekistan digital bank
London-listed TBC Bank Group PLC (LON: TBCG) is weighing up conducting a separate initial public offering (IPO) for its TBC Uzbekistan digital bank business. Reuters on February 24 ... more
EBRD boosts Ukraine financing to record €2.9bn in 2025 amid war
The European Bank for Reconstruction and Development (EBRD) deployed a record €2.9bn in finance in Ukraine in 2025, up from €2.4bn a year earlier, the EBRD said in a press release. The EBRD ... more