The current account deficit was $9.850 million in the first month of the year

The Central Bank (CBRT) announced the Balance of Payments Statistics for January 2023.

Thus, in January 2023, the current account registered a deficit of 9 thousand 849 million dollars. The current account deficit was $5.9 billion in the prior month. This means a record monthly current account deficit in the first month of the year.

In the current account, excluding gold and energy, there was a surplus of 2 thousand 602 million dollars in January.

The 12-month current account deficit widened to $51.7 billion in January. In December 2022, the current account deficit was $48.7 billion on an annualized basis.

THE FOREIGN TRADE DEFICIT IS 12.4 BILLION DOLLARS

The foreign trade deficit defined in the balance of payments was 12 thousand 431 million dollars in January.

In this period, income from the balance of services amounted to 3 thousand 164 million dollars, and net income from travel was 2 thousand 454 million dollars.

The primary income item registered a net outflow of 381 million dollars in January, and the secondary income item registered a net outflow of 201 million dollars.

OFFICIAL RESERVES DECREASED BY $9.3 BILLION IN JANUARY

Net direct investment inflows were recorded at US$ 223 million.

Portfolio investments registered a net inflow of $490 million. Analyzing by sub-items, it can be seen that non-residents made net sales of 486 million dollars in the stock market and 22 million dollars in net purchases in the internal public debt market.

There was a net decrease of $9.3 billion in official reserves in January.

On the net errors and omissions side, an outflow of $119 million was observed.