Deficit of Kazakhstan's current account in year 2005 - $486 m. (in 2004 - surplus $455 m.)

/REUTERS, Almaty, Oljas Auezov, March 31, 06/ - According to National Bank's data deficit of current account of Kazakhstan's payment balance in year 2005 totaled $486 m. compared to surplus totaling $455 m. one year before. On Thursday the National Bank published the payment balance of year 2005 on its web-site at www.nationalbank.kz. Surplus of the trade balance in year 2005 grew to $10.3 bn., however the growth was neutralized by growth of deficit of services balance to $5.2 bn. and expenditures balance - to $5.2 bn. Net inflow of direct foreign investments considerably decreased to $1.7 bn. from $5.4 bn. There is a considerable growth of "Errors and omissions" article, which some analysts call capitals outflow indicator: to $2.0 bn. from $945 m. one year before. Below are major indicators of the payment balance in 2005 and 2004 in analytical representation (m. USD): ---------------------------------------------------------------------- 2005 2004 ---------------------------------------------- ---------- ---------- Current account -485.67 454.92 Trade balance 10,321.81 6,785.39 Export 28,300.59 20,603.14 Import -17,978.78 -13,817.75 Services balance -5,215.37 -3,027.03 Export 2,251.05 1,999.13 Import -7,466.42 -5,026.16 Revenues balance -5,179.68 -2,815.28 Interest payments on borrowed credits and loans -817.86 -410.19 Revenues from direct investors -4,611.46 -2,331.76 Interest on reserves 228.20 140.21 Interest on National Fund's assets 181.79 118.25 Other (net) -160.35 -331.79 Current transfers -412.43 -488.16 Account of operations with capital and finance 531.87 4,488.97 Capital operations account 13.94 -20.26 Financial account 517.93 4,509.23 Direct investments 1,721.10 5,391.58 Funding 6,169.99 9,614.87 Redeemed -4,448.89 -4,223.28 Portfolio investments -4,043.95 -417.83 Derivative financial instruments (net) -112.64 -46.39 Other mid- and long-term investments 2,187.43 1,947.52 Other short-term capital 765.99 -2,365.66 Errors and omissions -1,990.85 -944.92 Total balance -1,944.66 3,998.97 Funding 1,944.66 -3,998.97 Reserve assets of NBK 1,944.66 -3,998.97 ---------------------------------------------------------------------- [2006-03-31]