Current account deficit for the 4th quarter of 2009 amounted to 419.4 million of USD. It doubled as compared to the 3rd quarter of the previous year but decreased by 11 percent as compared to the previous quarter.

During the accounting period, comparing with the 3rd quarter of the current year exports of goods increased by 10.1 million of USD, and imports of goods - by 147.2 million of USD. As a result trade balance widened totaling 709.9 million of USD that is 23.9 percent higher as compared to the previous quarter and 32.0 percent less than it was in the 3rd quarter of 2008.

Balance of services account was positive and equaled 85.2 million of USD for the 4th quarter of 2009. From this amount the export of services was 349.1 million of USD, that is 7.8 and 15.9 percent increase as compared to the previous quarter and the analogous period of 2008, respectively. As for imports of services, it amounted to 264.0 million. That is 6.1 percent higher then previous quarter and 11.9 percent less then the same quarter of the previous year.

For services account the tourism had significant positive balance (79.8 million of USD). It has increased by 58.6 percent year-on-year but decreased by 24.1 percent quarter-on-quarters. The second positive component was transportation services constituting 37.7million of USD. The export of that item has increased by 2.7 percent comparing with the previous quarter. As compared to the same quarter of 2008 it has enlarged by 16.0 percent. As for imports, it has grown by 2.8 percent in comparison with preceding quarter and decreased by 13.9 percent as compared to the 4rt quarter of 2008.

Balance of income was negative equaling 117.6 million of USD in the 4rt quarter of 2009. Income credit has amounted to 102.5 million of USD that is 13.7 percent less than the same indicator for the previous quarter and 20.8 percent less than the figure for the 4th quarter of 2008. Debit of income has increased considerably totaling 220.1 million of USD. That is 50.2 percent increase quarter-on-quarter. On the yearly basis it has increased 3.8 times (we should note here that the same indicator for the 3rd quarter of 2008 was 2.9 times less then year average).

Current transfers was the largest positive component of the current account constituting 323.0 million of USD. It has increased as compared to preceding quarter by 23.8 percent but decreased by 35.4 percent compared to same period of the previous year. Inflow of current transfers amounted to 339.6 million of USD, while outflow equaled 16.6 million of USD. In the 4th quarter of 2009 current transfers of the public sector grew 1.4-times as compared to the previous quarter and increase of other sectors’ current transfers amounted to 7.8 percent.

Capital transfers for the 4th quarter of 2009 equaled 67.5 million of USD, That is 54.6 percent higher then the previous quarter and 47.2 percent more then the same period of 2008. During the accounting period, capital transfers of the government sector equaled to 64.6 million of USD, that is 61.5 percent increase compared with the previous quarter and 60.3 to the last year’s 3rd quarter.

In the 4th quarter of 2009 direct investments amounted to 253.9 million of USD which is 11.2 percent higher than the previous quarter and 11.3 percent less as compared to the analogous period of 2008. All components of inward direct investment (equity, reinvestment and other capital) increased compared to previous quarter.

Balance of other investments account amounted to 213.3 million of USD in the reporting period that is 44.3 less then in previous quarter and almost same as compared to the last year’s analogous period. Other investment assets increased by 25.2 million of USD and liabilities increased by 238.3 million of USD during the reporting period.

Increase in liabilities of other investments mainly comes from growth of currency and deposits, in the banking sector (118.6 million of USD) and growth of long-term debt in government and other sectors. During the reporting period, public sector loans increased by 111.4 million of USD while External debt of the National Bank decreased by 3.9 million of USD. Indebtedness of other sector has deepened as well (by 66.3 million of USD). In the 4th quarter of 2009, the banking sector was the only sector in which external indebtedness decreased (by 63.6 million of USD).

During the reporting period, reserve assets increased by 108.8 million of USD. Foreign currency reserves increased by 114.5 million of USD.