Net Capital Outflow for 2013 Rises to $62.7Bln | Business | The Moscow Times

Net Capital Outflow for 2013 Rises to $62.7Bln | Business | The Moscow Times:

"Russian companies and banks raised their net capital outflows in 2013 even as the country's current account surplus halved, according to Central Bank data, underscoring the weak state of the economy and the fragility of the ruble.

The negative trends for both trade and investment flows highlight the growing problems facing the economy, which has recently seen a sharp slowdown in growth.

Typically, surpluses in the current account of the country's balance of payments are balanced out by deficits on the capital account, meaning net capital outflows. A fall in the current account surplus should mean there are less surplus savings to be invested outside the country.

But the Central Bank late last week estimated that the net capital outflow last year came to $62.7 billion, up from a $54.6 billion outflow in 2012, while the current account surplus more than halved to an estimated $33 billion from $72 billion in 2012."

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