BAKU, Azerbaijan, Aug.5
Trend:
The National Bank of Kazakhstan has formed a preliminary assessment of the payment balance based on the results of the first half of 2021, Trend reports referring to the bank.
According to the bank, the current account deficit amounted to negative $1.7 billion. During the reporting period, the state of the current account has been determined by the recovery in domestic demand and global economic activity.
The trade surplus amounted to $9.4 billion, down 5.9 percent year-on-year.
Exports of goods grew by 3.4 percent and reached $26.9 billion. At the same time, the export of oil and gas condensate (49.7 percent of official export) decreased by 10.8 percent, or $1.6 billion. The ongoing recovery in world oil prices compared to last year's levels will fully display itself in the second half of the year.
The imports of goods have grown even more, making up 9.2 percent and reaching $17.5 billion due to an increase in imports of consumer goods by 27.3 percent, or $1.2 billion, of which non-food products - by 36 percent, or $1.1 billion.
Foreign direct investor revenues increased by 42.8 percent to $9.5 billion. Historically, the state of the current account is characterized by a positive balance of trade with a negative balance of income.
The preliminary results of the first half of 2021 are in line with the expectations of the National Bank.