BAKU, Azerbaijan, December 11. The Central Bank of Azerbaijan (CBA) has held a media briefing on the country's balance of payments, Trend reports.
The event speaker, Director of the CBA Statistics Department Samir Nasirov said that the country's current account surplus in the balance of payments amounted to approximately $4 billion from January through September 2024.
"The current account surplus represented 7.2 percent of GDP. The surplus in the oil and gas sector reached $11.1 billion, while the non-oil sector recorded a deficit of $7.1 billion," he explained.
According to him, the volume of remittances by individuals sent from Azerbaijan to foreign countries totaled $408.2 million in nine months of 2024.
"Among the top five countries receiving remittances from Azerbaijan during this period are Türkiye with $118 million, the US - $45 million, Russia - $44 million, Georgia - $36 million, and the UK - $22 million," he stressed.
Besides, according to Nasirov, Russia leads in remittances to Azerbaijan following the results of the period from January through September of this year.
“According to the results of the period from January through September 2024, the top five leading countries in terms of remittances to Azerbaijan are Russia - $411 million, Türkiye - $130 million, the US - $48 million, Georgia - $27 million, and the UK - $26 million,” Nasirov pointed out.
He also said that the organizations, institutions, and enterprises of Azerbaijan received revenues of $698 million from the securities market in the mentioned period.
“Of this amount, $207 million comes from the third quarter of this year," the CBA representative clarified.
Nasirov further said that Azerbaijan’s foreign direct investment (FDI) in other countries totaled approximately $1.4 billion from January through September 2024.
"The top five countries receiving FDI from Azerbaijan include the UAE with $431 million, Türkiye - $175 million, Georgia - $96 million, the UK - $87 million, and Uzbekistan - $79 million," he emphasized.
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