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Azerbaijan’s surplus of payment balance exceeds $2.3bln

13 September 2013 16:19 (UTC+04:00)
Azerbaijan’s surplus of payment balance exceeds $2.3bln

The current account surplus amounted to $6.4 billion in January-June 2013, or 20.8 percent less than in the same period of 2012, the balance of payments published by the Central Bank of Azerbaijan (CBA) reads.

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.

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