Baku, Azerbaijan, Dec. 18
By Anvar Mammadov - Trend:
The current account deficit of Azerbaijan's balance of payments amounted to $1.1 billion in January-September 2016, according to the balance of payments made public by the Central Bank of Azerbaijan (CBA).
The current account surplus of Azerbaijan's oil and gas sector stood at $3 billion in January-September 2016 compared to 5,442 billion compared to the same period of 2015, according to the balance of payments.
Additionally, the current account surplus of the country's oil and gas sector covers 73.1 percent of the deficit of the non-oil sector totaling $4.1 billion, which is by $1,056 billion (20.3 percent) less than in the same period of 2015.
The financial account deficit decreased by 3.3 times for the year and amounted to $1.97 billion (this figure amounted to $1.5 billion without dollarization).
The analysis of the balance of payments in various sectors shows that like in previous years, the foreign economic operations in the oil and gas sector had a positive balance, while those in the non-oil sector had a negative balance in January-September 2016.
The total volume of the foreign trade turnover stood at $16.2 billion, while the surplus of the foreign trade balance stood at $2.9 billion in January-September 2016.
Azerbaijan maintained trade relations with 178 countries during the reporting period. Some 13 percent of trade turnover accounted for the CIS countries, while 87 percent - other countries.
Azerbaijan's reserves decreased by $1.19 billion in January-September 2016 compared to a $9,141 billion decrease in the same period of 2015.