Current account deficit for the 4th quarter of 2010 amounted 374.7 million of USD. That is 58.3 percentage points increase compared to preceding quarter and 11.5 percentage points increase compared to figure of the same period of 2009.

During the accounting period, as compared to the previous quarter, exports of goods increased by 163.9 millions of USD and imports of goods increased by 266.4 millions of USD. As a result trade balance deficit has enlarged totaling 760.1millions of USD. That is 15.6 percent higher than the previous quarter figure and 7.1 percent more as compared to the 4th quarter of 2009.

Within the reporting period, balance of services account was positive and equaled to 146.2 millions of USD. The export of services was 449.0 millions of USD and the import of services amounted to 302.8 millions of USD. The export of services in the 4th quarter of 2010 was 8.9 percent lower than previous quarter figure and 27.2 percent more as compared to the figure of the same period of 2009. As for import of services there was 6.6 percent and 15.4 percent increase compared to the preceding quarter and the 4th quarter of 2009 respectively.

For services account travel had the most significant positive balance (134.4 millions of USD). It has decreased by 24.0 percentage points (due to seasonality) compared to the previous quarter figure and increased by 60.8 percent on a year-over-year basis. The second positive component was transportation services constituting 21.7 millions of USD. The export of that item has decreased by 2.7 percent compared with the previous quarter, and enlarged by 9.6 percent compared to the same quarter of 2009. As for imports, it has grown by 6.4 percent in comparison with the preceding quarter, while increase comparing to the 4th quarter of 2009 amounted to 24.6 percent. The positive balance amounting more than one million USD has observed in communications, construction, financial and other business services. Insurance services had negative balance in the reporting period.

Balance of income was negative equaling 70.9 millions of USD in the 4th quarter of 2010. Income credit has amounted to 112.9 millions of USD that is 4.2 percent more than the same indicator for the previous quarter and 9.5 percent higher than the figure for the same quarter of 2009. Debit of income totaled 183.8 millions of USD resulting 6.0 percentage point and 16.2 percentage point increase on the quarter-on-quarter and year-on-year basis respectively.

Current transfers, the largest positive component of the current account, amounted to 310.2 millions of USD representing 12.1 percent increase compared to the preceding quarter, and 8.2 percent decrease compared with the figure of the same period of 2009. Inflow of current transfers equaled 334.3 millions of USD, while outflow made up 24.1 millions of USD. Net current transfers of the public sector in the 4th quarter of 2010 increased by 9.3 percent and the other sectors’ net current transfers enlarged by 12.6 percent compared to the preceding quarter.

Inflow of capital transfers in the reporting period equaled 85.4 millions of USD. That is 62.4 percent more than the previous quarter figure and 20.4 percent higher compared to the same period of 2009. Capital transfers of general government made up 81.0 millions of USD that is 66.0 percent and 21.0 percent more compared to the figures of previous quarter and the same period of 2009 respectively.

Net foreign direct investments amounted to 115.0 million of USD in the 4th quarter of 2010. This item is decreased compared to both the previous quarter figure (by 27.8 percent) as well as to the figure of the same quarter of 2009 (by 40.5 percent). Loan repayment (other capital) and lending to direct investors led to the decrease of foreign direct investments.

A positive balance of other investments account amounted to 306.8 millions of USD in the reporting period. This item is increased by 3.3 times compared to the previous quarter figure and by 2.1 times compared to the figure of the same period in 2009. Assets of other investment have increased by 42.5 millions of USD. At the same time the liabilities have risen by 349.3 millions of USD. The rise of liabilities of other investment was the consequence of the growth of long-term loans by general government (230.8 millions of USD) and commercial banks (124.7 millions of USD).

During the 4th quarter of 2010 reserve assets increased by 173.7 millions of USD. Out of this amount foreign currency reserve enlarged by 172.7 millions of USD.