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Azerbaijanâ€™s positive balance of payment increases by 1.5 times

15 September 2011 09:18 (UTC +04:00)

CBA says the balance of payments analysis shows that during the reporting period. as well as in previous years. the balance of foreign trade operations in oil and gas sector was positive for non-oil. Income from oil and gas sector is formed mainly by oil exports and the inflow of foreign capital. deductions are the same repatriation of profits and capital spending on imported equipment and other surplus oil and gas sector reached $13.9 billion.

Payment surplus on current transactions made $10.2 bln. This surplus is fully covered by non-oil sector deficit of 3.5 billion dollars.

Main indexations of payment balance

(mln. dollar)

6 months. 2010

6 months. 2011

I. Balance of current operations              7 961.2                         10 220.3
Balance of foreign trade                           10 236.4                       13 677.8
Services balance                                       - 775.8                            - 1 190.7
Incomes balance                                      - 1 717.9                        - 2 604.4
- Investment incomes repatriation        - 1 410.8                      - 2 504.6
Current transfers balance                             218.5                            337.6

II. Balance of activity of
capital and finance                                  - 2 954.8                       - 2 670.4
Directly investments                                     156.5                           498.4
- Borrowed                                                 1 460.1                          2 000.5
- Directed to abroad                                 - 110.6                           - 90.1
- investments repatriation                        - 1 193.0                       - 1 412.0
Loans and other investments                     - 3 111.3                     - 3 168.8

III. Total balance of
payment balance 5 006.4 7 549.9

Foreign trade turnover made $ 22.8 bln and foreign trade balance completed with positive balance of $ 13.7 bln. Azerbaijan has trade contacts with the 138 more countries.

Commodity export made $ 18.3 bln during the first half-year. 2010. Oil productions made 95.5% of exported goods.

(mln. dollar)

Structure of export
	6 months. 2010	6 months. 2011
Fuel and raw products	12 627.4	17 766.4
- oil productions	12 489.4	17 465.6
-Other raw	138.0	300.8
Machine and equipments	223.7	86.8
Consumer goods	332.7	371.9
Other goods	8.2	26.5
Total	13 192.0	18 251.6

The commodity import made $ 4.6 bln during the same period. Consumer goods made $ 1 746.8 mln, $ 622.0 mln of this was foodstuffs.

(mln. dollar)

Structure of import
	6 months. 2010	6 months. 2011
Consumer goods	1 306.8	1 746.8
- Food productions	485.7	622.0
- Non-food productions	821.1	1 124.8
Investment goods	296.8	368.4
Other goods	1 352.1	2 458.5
Total	2 955.7	4 573.7