Kazakhstan - Balance of payments



Strong exports of oil and minerals created trade surpluses in the early 2000s. Large amounts of foreign direct investment have also aided the country's balance of payments situation. Kazakhstan floated its currency, the tenge, in 1999, resulting in a devaluation. Subsequently, exports recovered and there was a fall in imports, and the currency stabilized against the dollar.

The US Central Intelligence Agency (CIA) reports that in 2001 the purchasing power parity of Kazakhstan's exports was $10.5 billion while imports totaled $8.2 billion resulting in a trade surplus of $2.3 billion.

The International Monetary Fund (IMF) reports that in 2001 Kazakhstan had exports of goods totaling $9.1 billion and imports totaling $8.3 billion. The services credit totaled $1.27 billion and debit $2.61 billion. The following table summarizes Kazakhstan's balance of payments as reported by the IMF for 2001 in millions of US dollars.

Kazakhstan

Current Account -1,416
Balance on goods 809
Balance on services -1,339
Balance on income -1,115
Current transfers 230
Capital Account -197
Financial Account 2,717
Direct investment abroad -16
Direct investment in Kazakhstan 2,763
Portfolio investment assets -1,354
Portfolio investment liabilities 32
Other investment assets 515
Other investment liabilities 778
Net Errors and Omissions -720
Reserves and Related Items -385
Also read article about Kazakhstan from Wikipedia

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