Azerbaijan’s payment balance surplus exceeds $3 billion

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Baku, Azerbaijan, Dec.13
By Abbas Akhundov - Trend:

The current account surplus in January-September 2013 amounted to $9.3 billion, or 19.43 percent less than in the same period of last year, the balance of payments published by the Central Bank of Azerbaijan (CBA) said.

The current account surplus of the oil and gas sector in Azerbaijan amounted to $16.6 billion, according to the balance of payments.

The current account surplus of the oil and gas sector fully covers the current account deficit in the non-oil sector of $7.4 billion.

The total payment balance surplus amounted to $3.29 billion decreasing by 26.5 percent.
The analysis of the balance of payments by sectors shows that, as in previous years, in January-September 2013, foreign trade operations in the oil and gas sector had a positive balance, while red ink was observed in the non-oil sector.

The total foreign trade turnover in January-September 2013 amounted to $32.2 billion, and the trade surplus to $15.4 billion. During the reporting period, trade relations were maintained with 143 countries. In this case, 9.5 percent of the trade turnover accounted for the CIS countries, 90.5 percent - other foreign countries. Intensive trade relations were observed with Italy, the UK, Turkey, the United States, Russia, Thailand, Indonesia, Germany, Japan, and France. About 68.9 percent of Azerbaijan's export-import operations fall to these countries.

Translated by L.Z.

Edited by C.N.

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