Estimation of major aggregates of balance of payments for January-November 2015
According to the Bank of Russia’s preliminary estimate, the surplus in the Current Account of the balance of payments for the January-November 2015 period increased to $60.8 billion (against $54.2 billion in the comparable period of 2014), mainly due to declining traditional deficits in the balances on trade in services and investment income with substantial compression of the trade balance under the influence of a continued fall in prices for energy products.
Net private capital outflow in January-November 2015 is tentatively estimated at $53.0 billion, declining by more than one half against the respective period of 2014 ($118.7 billion). The bulk of the outcome, mainly, resulted from external debt repayment transactions of Banks and foreign assets’ accumulation by Other sectors in the 1st Half of 2015. The aggregate net private capital outflow in the 2nd Half of the current year went down to a minimum level for the recent years against the background of a considerable contraction of external debt repayments and the compression of net demand for foreign assets.