BAKU, Azerbaijan, Dec. 17
By Eldar Janashvili - Trend:
Azerbaijan has the largest volume of foreign exchange reserves (FX reserves) per capita among the former Soviet countries, Trend reports citing Russian media.
Azerbaijan, with FX reserves of $4,890 per capita, has surpassed such countries as Kazakhstan ($4,790 per capita), Russia ($3,690 per capita), and Moldova ($1,030 per capita).
At the same time, according to this indicator, Azerbaijan was able to bypass Kazakhstan for the first time only in 2019, before that, for nine years, Azerbaijan ranked second among the former Soviet countries.
In absolute terms, only Russia ($542 billion) and Kazakhstan ($89 billion) possess international reserves larger than that of Azerbaijan ($49.2 billion). The high amount of Azerbaijan's reserves is due to the huge reserves of oil and gas and other highly liquid raw materials.
This indicator is calculated taking into account the FX reserves of the State Oil Fund of Azerbaijan (SOFAZ) and the National Fund of Kazakhstan.
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