Kazakhstan's current account deficit widened sharply to USD 2.4 billion in the second quarter of 2019 from USD 0.5 billion in the same quarter of the prior year, a preliminary estimate showed. It was the largest current account deficit since the last quarter 2016, as the services shortfall increased to USD 1.3 billion from USD 1.0 billion a year ago while the goods account surplus narrowed to USD 4.6 billion from USD 6.4 billion. On the other hand, the primary income deficit decreased to USD 5.7 billion from USD 5.8 billion while the secondary income surplus rose to USD 40.4 million from USD 18.6 million in the same period a year ago. Current Account in Kazakhstan averaged -160.57 USD Million from 1995 until 2019, reaching an all time high of 6655.80 USD Million in the first quarter of 2014 and a record low of -3081.30 USD Million in the third quarter of 2007.
Current Account in Kazakhstan is expected to be 200.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Kazakhstan to stand at -460.00 in 12 months time. In the long-term, the Kazakhstan Current Account is projected to trend around 950.00 USD Million in 2020, according to our econometric models.