Azerbaijan’s surplus of payment balance surpasses $2.3 billion

The current account surplus in January-June 2013 amounted to $6.4 billion, or 20.8 percent less than in the same period of last year, the balance of payments published by the Central Bank of Azerbaijan (CBA) said today.

According to the balance of payments, current account surplus of the oil and gas sector in Azerbaijan amounted to $11.1 billion.

Current account surplus of the oil and gas sector fully covers the current account deficit in the non-oil sector in the amount of $4.7 billion.

The total payment balance surplus amounted to $2.32 billion reducing by 40.82 percent.

The analysis of the balance of payments by sectors shows that, as in previous years, in January-June 2013, foreign trade operations in the oil and gas sector had a positive balance, while red ink was observed in the non-oil sector.

The total foreign trade turnover in January-June 2013 amounted to $21.2 billion, and the trade surplus - $10.5 billion. During the reporting period, trade relations were maintained with 137 countries. In this case, 9.8 percent of the trade turnover accounted for the CIS countries, 90.2 percent - other foreign countries. Intensive trade relations were observed with Italy, the UK, Turkey, the United States, Russia, Thailand, Indonesia, Germany, Japan, France. Around 69.4 percent of Azerbaijan's export-import operations fall to these countries.


/Trend/