Balance Of Payment Down To RM4.4 billion in 3Q

KUALA LUMPUR, Dec 31 (Bernama) -- The country's balance of payments (BOP) dropped to RM4.4 billion in the third quarter of 2007 from RM33.8 billion in the previous quarter, the Statistics Department said Monday.The current account surplus expanded to RM28.9 billion from RM23.6 billion previously while the financial account recorded a turnaround to net outflow of RM30.9 billion from RM7.7 billion registered in the second quarter, the department said.As a mirror to overall balance, the international reserves held by Bank Negara Malaysia eased by RM4.4 billion in the quarter under review relative to an increase of RM33.8 billion posted a quarter ago, it said in a statement.The department attributed the growth in current account surplus to higher surplus on goods of RM35.2 billion and continued surplus on services of RM900 million.For the first three quarters of 2007, the overall balance of RM45 billion rose by RM17.2 billion or 61.7 percent from that of RM27.8 billion posted in the corresponding period last year, it said.The net increase in the central bank's external reserves amounting to RM45 billion was higher than that of RM27.8 billion posted in the corresponding period last year, the department added.