BAKU, Azerbaijan, Dec. 10
By Nazrin Israfilova - Trend:
A surplus worth $400 million was recorded in the balance of primary incomes for Azerbaijan’s non-oil sector from January through September 2021, Trend reports referring to the Central Bank of Azerbaijan (CBA).
According to the CBA, at the same time deficit worth $1.5 billion was recorded in the balance of primary incomes for oil and gas sector.
As a result, the total deficit in the balance of primary incomes increased by 33.1 percent amounting to $1.1 billion.
The total turnover of receipts and payments on primary incomes amounted to $3.7 billion. Some 65 percent or about $2.4 billion of that amount accounted for the payments to non-residents from Azerbaijan.
A big part of this amount - about $1.7 billion accounted for the repatriation of incomes of foreign investors in international oil and gas consortia (mainly in the form of crude oil).
Interest payments to non-residents on a portfolio of securities were estimated at $300,000 while the interest paid for the use of foreign loans at $200 million, and nearly $200 million accounted for other fees.
The surplus of the current account balance in Azerbaijan in the first nine months of 2021 amounted to $3.9 billion or 10.7 percent of GDP.