Baku, Azerbaijan, June 20
By Anvar Mammadov – Trend:
In 1Q2018, Azerbaijan's net financial assets amounted to $985.9 million, which is 2.4 times less than in the same period in 2017, according to the balance of payments published on the website of the Central Bank of Azerbaijan (CBA).
For comparison, in the first quarter of last year, this figure was $2.35 billion.
According to the balance of payments data, net financial assets in the reporting period were formed at the expense of direct investments made by Azerbaijan abroad ($562.3 million), portfolio investments ($88.2 million) and other investments ($334 million).
Out of direct investments, $204.4 million were invested by Azerbaijan in the oil and gas sector, and $357.9 million – in other spheres.
Other investments include trade credits and advances ($646.8 million), loans and grants ($15.8 million), and deposits and cash ($328.6 million).
Net financial liabilities of Azerbaijan in the reporting period were formed in the amount of $523.2 million. At the same time, $128.8 million is accounted for direct investments attracted to the country's economy, $450.1 million – for the oil bonus. In addition, $46.6 million of portfolio investments and $9.1 million of other investments were repatriated during the reporting period.
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