Payment balance of the Republic of Kazakhstan for the first quarter OF 2009 (preliminary estimate)

/IRBIS, Dinara Mukasheva, May 14, 09/ - The National Bank of Republic of Kazakhstan released information on payment balance of the Republic of Kazakhstan for the first quarter of 2009. According to the National Bank, the oil and gas export decreased by $5 billion to 4.6 billion. There was import reduction in all major commodities. The most significant decline occurred on consumer goods, the import decreased in total by 27.5%, including food products importation which is decreased by 17.0 %, while nonfoods - by 33.0 %. The part of import of industrial consumption and investment goods exceeded 79.0 %, which is declined by 12.4 % as compared with for the first quarter last year. Net investment outflow of Kazakh residents in subsidiaries of foreign companies was about $300 million. Consequently, the positive balance by the direct investment transactions was more than $2.2 billion (for the first quarter of 2008 - $1.8 billion). For the first quarter of 2009, external assets of banks rose by $ 1 billion, while external liabilities declined by almost $ 3.8 billion. Net capital inflow by transactions with portfolio investments was $ 4 billion. Payment balance of Kazakhstan (USD m.) ---------------------------------------------------------------------------- The first The first quarter of quarter of 2009 2008 2007 -------------------------------------------- ---------- --------- ---------- Current account -1 078.5 6 978.1 1 014.6 Trade balance 2 019.4 33 518.8 9 322.8 export 8 168.2 71 970.8 19 484.3 import -6 148.8 -38 452.0 -10 161.4 Balance of services -1 087.7 -6 615.7 -1 834.3 export 789.3 4 383.0 1 111.6 import -1 877.0 -10 998.7 -2 945.9 Balance of salary -1 767.2 -18 940.4 -6 328.8 Reserves and assets premium of the National Bank of Kazakhstan 233.0 1 189.1 323.6 Balance of investment revenues -1 305.5 -16 623.8 -5 660.8 Balance of current transfers -243.0 -984.6 -145.1 Transaction account with capital and finance 527.1 -4 806.7 1 070.1 Balance of capital transaction account 7.5 -41.5 -4.8 Direct investments 2 242.9 10 731.5 3 224.1 Foreign direct investments -296.2 -3 811.9 -252.3 direct investments in Kazakhstan 2 539.1 14 543.4 3 476.4 Portfolio investments 4 017.0 -9 475.4 -3 276.4 assets 4 245.8 -7 207.1 -3 163.7 liabilities -228.7 -2 268.3 -112.7 Mid- and long-term loans and credits -1 248.9 4 384.1 1 394.1 assets -71.7 -1 824.4 -353.5 liabilities -1 177.2 6 208.4 1 747.6 Other short-term capital* -4 491.4 -10 405.4 -267.0 Reserve assets of NB 551.4 -2 171.4 -2 084.7 ---------------------------------------------------------------------------- * Mistakes and omissions including [2009-05-14]