Kazakhstan's current account deficit decreased sharply to USD 0.12 billion in the September quarter of 2018 from USD 1.68 billion in the same quarter of the prior year, a preliminary estimate showed. It was the smallest current account gap since the first quarter of 2015, amid a noticeable improvement in the goods account. In the third quarter, the goods account surplus surged to USD 7.03 billion (from USD 3.59 billion in the third quarter of 2017). At the same time, the secondary income posted a surplus of USD 0.07 billion, compared to a deficit of USD 0.12 billion a year ago. Meantime, the gap of services account was virtually unchanged (at USD -1.1 billion), while that of primary income gap widened markedly to USD 6.1 billion (from USD 4.03 billion). Current Account in Kazakhstan averaged -156.24 USD Million from 1995 until 2018, 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 -125.00 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 -190.71 in 12 months time. In the long-term, the Kazakhstan Current Account is projected to trend around -586.00 USD Million in 2020, according to our econometric models.