Finance

Finance

Azerbaijan sees balance of payment deteriorating

25 December 2009 11:58 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Azerbaijanâ€™s favorable balance of payments for January-September 2009 reached $934 million, compared to a deficit of $483 million during the first half.
However, the current favorable balance of payments can be viewed as deterioration as compared to the same period last year when the favorable balance was $10 812.7 million.

The Central Bank of Azerbaijan told APA-Economics that there was a surplus in foreign trade in oil and gas and a deficit in non-oil trade during this period as before.

Balance of payment (mln. USD):

(mln. dollar)

End of third quarter 2008

End of third quarter 2009

I. Current account surplus 14 796,5 7 090,9

Balance of foreign trade                          20 747,6                                           10 068,5
Balance of services                                  - 1 784,5                                                - 917,7
Balance of incomes                                - 4 919,7                                             - 2 538,0
- Repatriation of investment incomes     - 4 845,5                                             - 2 675,2
Balance of current transfers                              753,1                                                  478,1

II. Capital and finance flow - 3 983,8 - 6 156,7

Direct investment                                - 676,7                                                      96,0
- Inflow to Azerbaijan                      2 959,4                                                   2 104,9
- Outflow                                      - 277,8                                                   - 225,9
- Repatriation of investment              - 3 358,3                                                - 1 783,0
Oil bonus                                                 3,5                                                         1,0
Credits and other investments               - 3 310,6                                                 - 6 253,7

III. Total balance 10 812,7 934,2

Foreign trade turnover with 130 nations was $19.5 billion and the favorable balance of foreign trade reached $10.1 billion for the three quarters.
The country carried out 10% of foreign trade with CIS countries and 90% with faraway countries.

(mln. dollar)

Exports
	Third quarter 2008	Third quarter 2009
Fuels:	25 633,8	13 537,0
- Oil products	25 090,9	13 375,0
-Other goods	542,9	162,0
Machines and equipment	179,1	214,8
Consumer goods	377,8	370,8
Other commodities	52,7	667,5
Natural gas	41,1	643,0
Exports in total	26 243,4	14 790,1

(mln. USD)

Imports
	Third quarter 2008	Third quarter 2009
Consumer goods:	2 187,1	2 020,1
- Foodstuffs	714,0	609,9
- Non-food products	1 473,1	1 410,2
Investment goods	680,5	564,3
Other goods	2 628,2	2 137,2
Imports in total	5 495,8	4 721,6