Current account deficit for the 3rd quarter of 2010 amounted 239.9 million of USD. That is 27.1 percentage points increase as compared to the same quarter of the previous year and 25.1 percent lower as compared with the preceding quarter.

During the accounting period, as compared to the previous quarter, exports of goods decreased by 3.9 million of USD and imports of goods increased by 14.1 million of USD. As a result trade balance deficit has enlarged totaling 657.6 million of USD. That is 2.8 percent higher than the previous quarter figure and 14.9 percent more as compared with the 3rd quarter of 2009.

Within the reporting period, balance of services account was positive and equaled 200.2 million of USD that is 2.2 times more as compared to the preceding quarter and 1.5 times more as compared to the 3rd quarter figure of 2009. The exports of services, as well as imports have increased. The export of services amounted to 483.8 million of USD (35.1 percent higher than previous quarter figure and 26.5 percent more as compared to the figure of the same period of 2009). As for imports of services, it amounted to 283.6 million of USD (7.8 percent and 13.5 percent increase as compared to the preceding quarter and 3rd fourth of 2009 respectively).

For services account travel had the most significant positive balance (171.3 million of USD). It has increased 1.6 times year-over-year and 1.9 times as compared to the previous quarter figure. The second positive component was transportation services constituting 36.2 million of USD.
The export of that item has increased by 14.7 percent as compared to the previous quarter, and enlarged by 15.4 percent as compared to the same quarter of 2009. As for imports, it has grown by 16.6 percent in comparison with the preceding quarter, while increase comparing to the 3rd quarter of 2009 amounted to 13.7 percent. The positive balance amounting more than one million USD has observed in communications, construction, financial and government services. Insurance and other business services had negative balance in the reporting period.

Balance of income was negative equaling 61.0 millions of USD in the 3rd quarter of 2010. Income credit has amounted to 108.3 million of USD that is 7.7 percent more than the same indicator for the previous quarter and 8.9 percent lower than the figure for the same quarter of 2009. Debit of income totaled 169.3 million of USD resulting 54.6 percentage point increase quarter-on-quarter. On the yearly basis it has increased by 31.7 percent.

Current transfers, the largest positive component of the current account, amounted to 278.4 million of USD representing 19.3 percent increase as compared to the preceding quarter, and 6.6 percent increase comparing with the same period of the previous year. Inflow of current transfers equaled 298.8 millions of USD, while outflow made up 20.4 million of USD. Net current transfers of the public sector in the 3rd quarter of 2010 increased by 2.2 times compared to the preceding quarter and grew 1.5 times as compared to the figure of the same quarter of 2009. Analogously, other sectors’ net current transfers enlarged by 9.1 percent as compared with the previous quarter, and only by 0.4 percent year-on-year.

For the 3rd quarter of 2010, inflow of capital transfers equaled 53.2 millions of USD. That is 28.4 percent more than the previous quarter figure and 21.0 percent higher as compared to the same period of 2009. During the accounting period, capital transfers of general government made up 92.6 percent of total current transfers inflows.

Net foreign direct investments amounted to 159.3 million of USD in the 3rd quarter of 2010. This item is decreased compared to previous quarter figure (by 17.3 percent) as well as compared to the figure of the same quarter of 2009 (by 8.1 percent).

 A negative balance of other investments account amounted to 88.2 million of USD in the reporting period. Assets of other investment have increased by 206.0 million of USD. At the same time liabilities have risen by 117.8 millions of USD. Increase of other investment assets was mainly caused by the growth of banks’ cash and deposits (increase by 189.4 million of USD). The rise of liabilities on the other hand was the consequence of the growth of loans (by 87.4 million of USD).

During the 3rd quarter of 2010 reserve assets increased by 158.8 million of USD. Out of this amount foreign currency reserve enlarged by 157.2 million of USD and the new allocation of Special Drawing Rights (SDR) increased by 1.7 million of USD.