Surplus of balance of payments tops $1.8 billion in Azerbaijan
Azerbaijan, Baku, June 17 / Trend , N. Ismayilova/
According to the balance of payments released by the Central Bank of Azerbaijan, surplus of current operations reduced 2.1 times and reached $1.8 billion in the first quarter of 2009. It caused drop in foreign policy surplus by 2.8 times.
Analysis into the balance of payments showed that there is black ink in oil sector and red ink in non-oil sector.
Deficit that appeared doubled and reached $3.8 billion due to capital and finance flows. The main reason was the growth of one of the key indicators in the section of financial accountability of balance - deposits in cash, by $2.4 billion, including the banks - by $514 million and households - for $1.9 billion.
Azerbaijan's total trade turnover totaled $5.1 billion and black ink of foreign trade balance was $2.1 billion. Imports totaled $1.48 billion and exports $3.6 billion.
Azerbaijan maintained trade relations with 108 countries. About 13.3 percent of trade turnover accounts for CIS and 86.7 percent foreign countries. Major trade partners include U.S., Israel, Russia, France, Turkey, Germany, Georgia, Korea, Italy and Canada. They account for 74 percent of export-import operations.
Do you have any feedback? Contact our journalist at: [email protected]