Assessment of Major Aggregates of Balance of Payments
According to preliminary estimate of the Bank of Russia, in January-October 2015 the surplus in the Current Account of the balance of payments of the Russian Federation reached $54.8 billion, surpassing the corresponding 2014 period's level ($48.2 billion), due to declines in the Current Account items which were traditionally in deficit (mostly, trade in services' and investment income balances) against the background of considerable compression of the merchandise trade balance under the influence of falling prices for energy products.
Net capital outflows of the private sector in January-October 2015 were tentatively estimated at $50.2 billion (against outflows of $105.3 billion in the corresponding 2014 period). Their level was shaped mainly under the influence of transactions in the 1st Half of 2015 which were dominated by those related to external debt repayment.
The current estimate of net capital outflows of the private sector was also under the effect of a certain increase in foreign liabilities of Other sectors, resulting from October Eurobond and other debt securities' placements by nonresidents for the benefit of certain Russian residents.