In the reporting period, the export of goods, compared to 9 months of 2019, decreased by 18.2% to $35.3 billion. The decrease in exports is due to decrease in the export of oil and gas condensate. The import of goods dropped by 9.6% to $26.4 billion. Its decline is due to a decrease in the import of investment and intermediate goods. As a result, the trade surplus decreased by 36.0% and amounted to USD 9.0 billion.
As a result of 9 months of 2020, income payable to foreign direct investors decreased by 36.8% to $10.2 billion due to the decline in oil prices and the COVID-19 pandemic. The decline in income offset the further deterioration in the current account.
The net inflow of capital on the financial account (excluding operations with the National Bank reserve assets) for 9 months of 2020 amounted to USD 9.3 billion, net outflow for 9 months of 2019 was USD 2.3 billion. The inflow was mainly ensured by the continued funding of the Tengizchevroil LLP future expansion project, placement of sovereign bonds by the Ministry of Finance of the Republic of Kazakhstan and the operations of the National Fund of the Republic of Kazakhstan.
As of October 1, 2020 the reserve assets (excluding assets of the National Fund of the Republic of Kazakhstan) were estimated at $33.8 billion, which covers the financing needs of 8.7 months of Kazakhstani imports of goods and services.
Photos are from open sources.