Balance of payments for 9 months of 2011 increased 3-fold (preliminary results)

/IRBIS, November 9, 2011/ - According to preliminary estimates of balance of payments of current account surplus for the first 9 months of 2011 amounted to 9.3 billion U.S. dollars, an increase of almost 3 times (188.7%) as compared with that for the first 9 months of 2010, was indicated in the press - release of the National Bank of Kazakhstan on the situation in the financial market in September 2011. A significant increase in the positive balance of current operations is provided capacity value of merchandise exports against the background of high energy prices. The average for the 9 months of 2011 the world oil price of Brent was 111.5 U.S. dollars per barrel, or 44.3% above its average level for the first 9 months of 2010 (77.25 U.S. dollars per barrel). At the same time in the 3rd quarter 2011 average world oil price was 112.5 U.S. dollars per barrel, down compared to the previous quarter to 4.1% (117.1 U.S. dollars per barrel in Q2 2011). As a result, exports of goods increased by 38.1% versus the same period in 2010 and was the assessment of the National Bank 61.8 billion U.S. dollars. The volume of imports of goods also increased significantly (32.9%), exceeding the 29.4 billion U.S. dollars (22.2 billion U.S. dollars for the first 9 months of 2010). As a result, the trade balance for the first 9 months of 2011 evaluation of the National Bank was formed with a surplus of 32.4 billion U.S. dollars (growth by 43.3% compared with January-September 2010 to 22.6 billion U.S. dollars ), offsetting a net outflow of resources arising from international services and investment income. Deficit on services, according to preliminary estimates, for the 9 months of 2011 amounted to U.S. $ 3.8 billion, down 19.6% compared with January-September 2010. Reducing the negative imbalance of services provided by a decrease in imports of services by 9.6% compared with January-September 2010. Owing to the increase of exports of goods continued to grow revenues in foreign direct investment in respective areas. Payments to foreign direct investors previously valued at 17.4 billion U.S. dollars, higher than that for the first 9 months of 2010 (12.5 billion U.S. dollars) to 39.4%. Remuneration to creditors, not related to direct investment relationship is also increased for the first 9 months of 2011 to 19.9%, surpassing the U.S. $ 2.3 billion. As a result, negative balance of investment income, according to preliminary estimates, amounted to 18.2 billion U.S. dollars against 13.2 billion U.S. dollars in January-September 2010. According to preliminary estimates, the financial account for the 9 months of 2011 formed a net outflow of 4.9 billion U.S. dollars, due to steps 2 and 3 quarters of 2011. Direct investment abroad net outflow of U.S. $ 3.7 billion provided growth equity. Net foreign direct investment (FDI) in Kazakhstan reached 10.0 billion U.S. dollars against 8.7 billion dollars in January-September 2010. As a result, the positive balance on direct investment for the first 9 months of 2011 amounted to U.S. $ 6.3 billion. The net outflow of portfolio investment, according to preliminary data, was formed in the U.S. $ 7.1 billion. The balance of portfolio investment is characterized by the growth of foreign assets of the fund by more than 7.5 billion U.S. dollars. Also, in January- September 2011 is observed as an increase in banks 'foreign assets, due to the growth of their assets in foreign accounts (due to steps 2 and 3 quarters of 2011) and the reduction of banks' liabilities mainly on loans. As a result, the net outflow of bank operations for the nine months of 2011, according to preliminary data, exceeded U.S. $ 2.5 billion. [2011-11-09]