Deficit of the current account of the balance of payments for the 3^rd quarter of 2008 comprised 652.0 million USD, which is 28.5 percent less than the indicator for the previous quarter and 21.2 percent higher than in the same period of the previous year.

Trading with goods had decreased and its balance equaled 842.4 million USD (13.2 per cent less than in the previous quarter), that was resulted by decreasing of  volume of imports as well as exports. In particular, in the 3^rd quarter of 2008 the volume of import has decreased by 9.8 per cent as compared to the previous quarter, and has increased by 25.5 per cent as compared to the same period of the previous year. Export has decreased by 5.4 per cent to the previous quarter, and has increased by 30.9 per cent to the 3^rd quarter of 2007.

Usually, balance of service is positive and partly finances the goods deficit, but for the reporting period it is negative and equals to -9.1 million USD, In which exports of services is 323.0 million USD (has decreased by 8,9 per cent to the 2^nd quarter of 2008 and by 0.7 per cent to the same period of the previous year) and import of services is 332.1 1 million USD (has decreased by 1.7 per cent to the previous quarter and increased by 35.3 per cent to the 3^rd quarter of the previous year).

In the trade with services usually the tourism service has notable positive balance, which is highest for the 3^rd quarter of the year, but due to August's events it has decreased by 8.5 per cent as compared to the same period of the previous year and by 6.2 per cent to the previous quarter. The second positive component is communication services, that has increased as compared to the previous quarter as well as to the same period of the previous year (by 24.7 per cent and by 4.5 times accordingly). The insurance, transportation, construction and other government service balances has a negative feature (-35.2, -17.7, -16.5, -5.6 and -4.1 million USD accordingly).

In the 3^rd quarter of the 2008 balance of income is negative and equals to -24.4 million USD. Income credit is 129.6 million USD that is by 6.7 per cent less than the same indicator of 2007 and by 7.3 per cent more than the figure for the previous quarter.

 Debit of income is 154.0 million USD, which is 1.5 times higher than the indicator for the same period of 2007 and it is 38.3 per cent less than the data for the 2^nd quarter of 2008.  The investment income constitutes 91.6 per cent of the income debit.

Volume of current transfers is quite solid and it reduces the deficit of the current account caused by the balances of trade (goods and services) and income. The balance of current transfers constituted 223.2 million of USD in the 3^rd quarter of 2008, from which the inflow is 244.1 million of USD and the outflow - 21.0 million of USD. During the 3^rd quarter of 2008, the current transfers of the government sector has increased 13.9 times as compared to the last quarter of the current year and has reached 52.2 million of USD. With regards to transfers of other sector, it has increased by 2.9 per cent as compared to the 2^nd quarter and equaled 171.9 million of USD.

Capital transfers for the 3^rd quarter of 2008 make up 24.2 million of USD and they are grown by 34.7 per cent as compared to the last quarter. But if we compare them to the same period of the year 2007, they are reduced by 45.3 per cent. During the reporting period, the government sectors' capital transfers has enlarged by 55.7 per cent as compared to the previous quarter, while compare to the analogous period of the last year it has declined by 0.1 per cent.

During the 3^rd quarter of 2008, direct investments have sharply decreased as compared to the same period of 2007 as well as compared to the previous quarter of the current year (68.0 and 71.1 per cents correspondingly) and comprised 150.0 million of USD. Investments have diminished in both in the equity capital and in the reinvested income. Inflow of investments in the form of other capital or other types of loans was 70.9 million of USD, which is 2.9 times higher as compared to the last quarter and by 67.7 per cent less as compared to the analogous period of 2007.

During the 3^rd quarter of 2008 the number of portfolio investments in banking and private sectors is modest as compared to the previous quarter and in forms of assets comprises just 2.2 million of USD. Portfolio liabilities are also insignificant - 13.4 million of USD, the main share of which is accrued interest on State Eurobonds.

Balance of other investments equaled 428.1 million of USD in the reporting period and it has been increased 27.4 times as compared to the previous quarter and 3.1 times as compared to the same period of the last year. This was caused by both assets' declining (during 3^rd quarter it has decreased by 34.8 million of USD) and liabilities' increasing. 95.5 per cent of other assets are trade credits (33.2 million of USD), while growth of liabilities was entirely originated from the loans. During the reporting period loans have increased for all of the sectors: loans of the National Bank and government sector have enlarged by 240.8 and 32.3 million of USD respectively and loans of the commercial banks and other sectors - by 40.2 and 133.8 million of USD correspondingly.

During the 3^rd quarter of 2008 reserve assets have declined by 110.8 million of USD. In the course of quarter the total foreign currency reserves have reduced by 114.1 million of USD, while the SDR account has increased by 3.4 million of USD.