Current transaction surplus of Azerbaijan's payment balance exceeds $7 billion

Business Materials 28 December 2009 17:10 (UTC +04:00)

Azerbaijan, Baku, Dec. 28. / Trend N. Ismayilova /

According to the payment balance published by the Central Bank of Azerbaijan (CBA), as of Jan.- Sep. 2009 the surplus of the current transactions of the Azerbaijani payment balance hits $7.1 billion, including surpluses of current transactions in oil and gas sector worth $10.2 billion. This fully covers shortage of current transaction in non-oil sector worth $3.1 billion, the CBA reported today.

Payment balance analysis by sectors showed external economic operations in the oil and gas sector had black ink but red ink in the non-oil sector in January-September 2009 as previous years. According to the payment balance, total black ink in the oil and gas sector made up $8.9 billion in January-September.

As of three quarters of 2009, the total amount of foreign trade turnover made up $19.5 billion and black ink of foreign trade balance made up $10.1 billion. The country imported goods worth $4.7 billion and exported $14.8 billion

During the reported period Azerbaijan has implemented trade relations with 130 countries. About 10 percent of trade turnover fell to CIS countries and 90 percent to the other foreign countries. It had intensive trade relations with Italy, the U.S., Israel, Russia, France, Turkey, Germany, Great Britain, Taiwan and Canada. About 70.3 percent of Azerbaijan's export and import operations fell on them.

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