Kazakhstan's balance of payments becomes surplus in 1Q2019

Baku, Azerbaijan, May 11

By Fakhri Vakilov – Trend:

The current account of the balance of payments in the first quarter of 2019 was a surplus amounting to $0.8 billion compared with a deficit of $0.9 billion in the first quarter of 2018, Trend reports with reference to the press-service of the National Bank of Kazakhstan.

The positive change in the current account was achieved due to an increase in the trade surplus, which, according to preliminary data, amounted to $7.1 billion, having increased by 14.4 percent.

Exports of goods increased by 9.9 percent and amounted to $15 billion, while imports grew by 6.1 percent to $7.8 billion.

In turn, revenues of foreign direct investors in Kazakhstan declined by 16.9 percent to $4.8 billion. More than half of the income of non-residents from direct investments was directed to the financing of Kazakhstan subsidiaries.

The financial account (with the exception of the operations with reserve assets of the National Bank), according to preliminary data, was formed with a positive balance of $3.2 billion, which is mainly due to the growth of residents' external assets.

For foreign direct investment (FDI), net capital inflows amounted to $ 2.4 billion. The capital inflow was secured by the repayment of the debt obligations by foreign affiliated companies to Kazakhstan enterprises and the reinvestment of incomes of non-residents.

For portfolio investments, net capital outflows amounted to $4.8 billion, mainly due to the growth of residents' foreign assets and the reduction of liabilities of residents as a result of their redemption of previously issued Eurobonds.

Purchases by non-residents on the secondary market of short-term notes of the National Bank partially compensated for the outflow of capital on portfolio investments.

Reserve assets (excluding assets of the National Fund of Kazakhstan) as of April 1, 2019 were estimated at $ 27.0 billion.

---

Follow author on Twitter:@vakilovfaxri

AzerGold CJSC talks plans for extraction of precious metals
AzerGold CJSC talks plans for extraction of precious metals
Volume of funds allocated to fixed capital increases in Azerbaijan’s Nakhchivan
Volume of funds allocated to fixed capital increases in Azerbaijan’s Nakhchivan
Retail trade turnover of Azerbaijan’s Nakhchivan Autonomous Republic drops
Retail trade turnover of Azerbaijan’s Nakhchivan Autonomous Republic drops
Loading Bars
Latest
Georgia reveals profit of microfinance sector
South Korea, China top diplomats vow to work on North Korea, COVID-19
Turkey mulls new support measures for businesses hit by COVID-19
Tehran-Najaf flights resumed
Kazakhstan detects 820 new coronavirus cases in 24 hrs
Incumbent MP Sopio Kiladze elected member of UN Committee on the Rights of the Child
Canada police supervisor denies effort to deceive Huawei CFO about indictment
Georgia E-Space to create synergy of solar power plant and electric car charging infrastructure
Amazon workers in Germany to go on strike on 'Black Friday'
Kazakhstan's KazMunayGas forecasts annual oil output decrease
More migrants relocated from Malta to EU countries
U.S. grants ByteDance new seven-day extension of TikTok sale order
82 bandits killed in Nigerian airstrikes
China, Kyrgyzstan to boost pragmatic cooperation
AzerGold CJSC talks plans for extraction of precious metals
Kazakhstan’s Almaty Power Stations JSC opens tender to buy compressors
Volume of funds allocated to fixed capital increases in Azerbaijan’s Nakhchivan
Retail trade turnover of Azerbaijan’s Nakhchivan Autonomous Republic drops
Azerbaijani MoD unveils footage depicting advancement of Azerbaijani armyuits to liberated Kalbajar region (VIDEO/PHOTO)
Resolution of France's Senate nothing more than piece of paper for Azerbaijan - top official
Resolution adopted by France's Senate has no legal force - MFA
IKEA investment arm in talks to buy city-centre retail property in big European cities
Kazinform and IRNA news agencies hold joint online conference
China increases import of Turkish cars
Iran to compensate for Ukraine plane crash according to int'l norms
Oil tanker hit by blast at Saudi terminal, Saudi Arabia confirms
National Bank of Georgia sells funds at foreign exchange auction to stabilize lari
First Turkish Trade House to open in Azerbaijan
Azerbaijani president signs law renaming Tsakuri village in Khojavend district
Azerbaijani president signs law renaming Gushchubaba village of Khojaly district into Baharli village
Azerbaijan to monitor fields in Kalbajar - Head of National Geological Exploration Service (Exclusive)
EU allocates macro-financial assistance to Georgia to tackle COVID-19
Turkmen FM gives speech at 13th Central Asia-Korea Cooperation Forum
Turkmenistan advocates cooperation in resolving regional and global environmental problems
Azerbaijan confirms 1,229 more COVID-19 recoveries
Iranian Energy Exchange announces products to be on sale November 28
Austria provides Uzbekistan with railway equipment
U.S. weekly jobless claims increase again
Produce in Georgia agency selects business ideas for micro and small entrepreneurship grant program
Kazakhstan eyes to fully put up produced LPG on electronic trading platforms in 2021
Uzbekistan’s food production to grow by end of 2020
Fergana region becomes main textile producer in Uzbekistan
More countries allow import of Uzbek-grown products
Volume of lending in Azerbaijan’s Nakhchivan in annual circulation greatly increases
Lari depreciation among possible reasons for fuel price increase in Georgia
Azerbaijan prepares projects to restore road infrastructure in liberated territories
Production of Iran’s Sefid Dasht Steel Company increases
Kazakhstan's Kuryk port boosts cargo handling, launches direct link to Iran
Turkmenistan has sufficient reserves to mitigate effects of pandemic - IMF
Volume of cargo transportation of Azerbaijan’s Nakhchivan Autonomous Republic drops
Kazakhstan to localize production of German agricultural machinery's popular models
Iran’s Bahar Azadi gold coin price continues to fall
Georgian-produced ski equipment to be exported to Europe
Kazakhstan decreases exports to Italy year-on-year
Volume of goods released from Iran’s customs checkpoints announced
Turkmengas opens tender for purchase of instrumentation
Investments in Iran’s Kerman Province increase
Azerbaijani refugees from Kalbajar visit Martyrs Alley (PHOTO)
FM talks on possible Azerbaijan-Armenia peace treaty to French Le Point
Azerbaijan shows new footage of Azerbaijani army units entering Kalbajar (PHOTO/VIDEO)
Armenia must answer for war crimes - Azerbaijani FM
Iran’s South Pars Gas Company opens tender to buy equipment
Uzbekistan eyes to maintain macroeconomic stability in 2021
Volume of loans issued by commercial banks down in Georgia
Cable TV operators ready for full deployment in liberated Azerbaijani territories
Activities of private sector in Iran can put end to economic problems - analyst
Georgia increases export of precious metal ores and concentrates
During Karabakh hostilities, Turkey responded to political pressure exerted on Azerbaijan - ambassador
Oil shrugs off U.S. inventory gain helped by vaccine hopes
Total volume of non-bank deposits in Georgian banking sector down
Return of Kalbajar region to Azerbaijan has not only important political but also economic significance - Georgian expert
Number of bank accounts registered in Nakhchivan over 10M2020 unveiled
Azerbaijan's gold company reveals profits
Two facilities in Iran’s oil sector to be put into operation
Baku residents hold rally celebrating Kalbajar's liberation (PHOTOS)
Georgia reveals data on persimmons and caraway seeds exports
Turkmenistan’s growth model relies on large-scale public investments - IMF
Four dead as migrant boat capsizes off Canary Islands, more missing
Kazakhstan’s joining UPOV could help improve lives, provide for economic dev't
SOCAR reveals volume of transshipment through Kulevi terminal
First VP Mehriban Aliyeva congratulates Azerbaijani people on liberation of Kalbajar (PHOTO)
Cargo handling at Kazakhstan's Aktau seaport decreases over 10M2020
Foreign trade turnover of Azerbaijan’s Nakhchivan Autonomous Republic increases
Iran reveals its COVID-19 data for November 25
Life insurance in Azerbaijan occupies about half of all insurance fees - association
SOCAR and LUKOIL eye expanding co-op
Baku Stock Exchange hosts auction for CBA's short-term notes
Concerns of some OSCE MG co-chairing countries don't matter - Erdogan
Kazakhstan boosts passenger cars manufacturing within 10M2020
Turkmen IT company to create first online platform of Union of Industrialists, Entrepreneurs
Azerbaijan to export medical masks to Russia and Germany
UNESCO to take part in protection of cultural, religious heritage in Karabakh
Iran says ready to return to Jan 20, 2017
Iran talks banking obstacles
Azerbaijan disclose data on investments in local renewable energy projects
Iran prevented release of German home appliances from customs
Kazakhstan’s oil producing company opens tender to buy spare equipment parts
Turkmen company provides domestic market with products made of polyethylene
Production of agricultural products increases in Azerbaijan’s Nakhchivan Autonomous Republic
Azerbaijani soldiers created conditions for Armenian population to leave village in Aghdam - president
All news