Surplus of Azerbaijan's payments balance doubles
Baku, Azerbaijan, Sept. 12
By Zulfiyya Gurbanova - Trend:
The surplus of the current account totaled $6.4 billion in January-June 2014, decreasing by 4.5 percent compared to the same period of last year In accordance with the balance of payments, published by the Central Bank of Azerbaijan.
The surplus of current account of Azerbaijan`s oil and gas sector amounted to $10.3 billion for the reporting period, according to the balance of payments.
Herewith, in accordance with the document, the current account surplus of oil and gas sector completely covers the current account deficit in the non-oil sector in the amount of $3.9 billion.
The total balance of payments surplus made up $4.4 billion, increasing 1.88 times compared to the same period of last year.
The analysis of the balance of payments on sectors showed that, as in previous years, foreign trade operation figures in the oil and gas sector were in the black, while the non-oil sector reflected red ink in January-June 2014.
The total foreign trade turnover volume amounted to $20.1 billion in January-June, while the foreign trade balance equaled $11.1 billion.
Azerbaijan maintained trade relations with 136 countries during the reporting period. While 7.7 percent of trade turnover accounted for the CIS countries, the other 92.3 percent applied to foreign countries.
Azerbaijan was involved in intensive trade with Italy, Turkey, Great Britain, Indonesia, Germany, U.S, Russia, Israel, France, and Japan. Some 69.1 percent of export-import operations in Azerbaijan accounted for these countries.