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Positive balance of BOP increases by 20% in Azerbaijan

14 June 2011 13:39 (UTC +04:00)

CBA says foreign economic operation had positive balance on oil-gas sector, negative balance on non-oil sector, during January-March, 2011. Total incomes are formed on the accounts of export of oil and gas and foreign capital invested in this sphere. The payments on this sector reflect repatriation of profit and investments, import of equipments and services. Total positive balance on oil-gas sector made $ 19.5 bln.

Generally, positive balance on oil-gas sector made $ 6.3 bln, in January-March, 2011. Oil â€“ gas sectorâ€™s surplus covered the $1.5 bln-deficit of current account on non-oil sector and as a result, $4.8 bln-positive balance was observed in current balance of BOP.

Main indexations of payment balance (mln. USD)

(mln. dollar)

2010, Q1

2011, Q1

I. Balance of current

transaction account Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 3 902.1 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 4826.0

Foreign trade balance Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 5 040.6 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6 54.2

Services balance Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â -416.7 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â -522.6

Income balance Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â -795.4 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â -1347.1

- Repatriation of investment balance Â Â Â Â Â -685.3 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â -1 311.7

Current transfers balance Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 73.6 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 141.5

II. Balance of activity of

capital and finance Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â -1 329.2 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â -1 732.3

Direct investments Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 46.9 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 77.1

- Borrowed Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 704.7 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 819.9

- Directed to abroad Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â -47.2 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â -24.9

- Investment repatriation Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â -610.6 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â -717.9

Credits and other investments Â Â Â Â Â Â Â Â Â -1 376.1 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â -1 809.4

III. Total balance of

payment balance Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 2 572.9 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 3 093.7

Foreign trade turnover made $ 10.5 bln and as it seems, foreign trade balance completed with positive balance of $ 6.6 bln. Azerbaijan had trade contacts with near 115 countries, during the same period.

Commodity export made $ 8.5 bln during the same period. Oil productions made 95.9% of exported goods.

Structure of export

(mln. dollar)

Â	2010, Q1	2011, Q1
Fuel and raw products	5 979.8	8 330.5
- oil and gas products	5 913.6	8 199.6
Â Â -Other raw	66.2	130.9
Machine and equipments	129.3	45.6
Consumer goods	148.0	167.6
Other goods	1.3	2.4
Total	6 258.4	8 546.1

The commodity import made $ 2 bln during the same period. Consumer goods import made $ 791.3 mln. $ 317.9 mln of this was foodstuffs.

Structure of import

(mln. dollar)

Â	2010, Q1	2011, Q1
Consumer goods	617.1	791.3
- Food products	226.1	317.9
Â Â - Non-food productions	3910	473.4
Investment goods	117.4	142.4
Other goods	483.3	1 058.2
Total	1 217.8	1 991.9