The balance of payments is a statistical statement that summarizes transactions between residents and nonresidents during a period. The balance of payments data represents flows of real resources (export and import of goods and services) and flows of financial resources which are either a payment for the acquisition of the applicable real resources or financial flows that are independent from them.
Standard BOP structure structure consists of the following three accounts:
- Current account shows flows of goods, services, primary income, and secondary income between residents and nonresidents. The current account balance reflects the balance of domestic savings and investment of the economy;
- Capital account shows economic relationships for nonproduced nonfinancial assets and capital transfers;
- Financial account shows transactions with financial assets and liabilities between residents and nonresidents and sources of financing for exports and imports of real resources.
In the analytic presentation of balance of payments, the items of balance of payments are grouped separately and show flows of valuable resources and all capital flows with exception of changes in international reserves. In this case, the negative value of the overall balance means the accumulation of international reserves whereas a positive value - their reduction.
According to the Plan for statistical work for 2017 (Order of the Minister of National Economy of the Republic of Kazakhstan, №411, September 15, 2016) summarized statistical reports are formed on a quarterly basis and published on March 31, June 30, September 30, December 30; additional analytical tables and information - after 10 days from the date of publication of main statistical reports.
Analytic comments to the balance of payments for the reporting period are presented in quarterly publication “Kazakhstan: Balance of Payments and External Debt”.