Finance

Finance

Positive balance of BOP rises 18% in Azerbaijan

28 March 2012 11:47 (UTC +04:00)

CBA says foreign economic operation had positive balance on oil-gas sector, negative balance on non-oil sector, during 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 $ 25.7 bln.

Payment surplus on current transactions made $17.2 bln.

Main indexations of payment balance (mln. USD)

(mln. USD)

2010

2011

I. Balance of current transaction account
Foreign Trade Balance
Service balance
Income balance
- Repatriation of investment income
Balance of current transfers

II. Balance of activity of capital and finance
Direct investments
- Involved to Azerbaijan
- directed to abroad
- Repatriation of investments
Credits and other investmentsÂ
Oil pipelineÂ Â Â Â Â

III. Total balance of payment balance

15,039.6
19,730.4
- 1,732.9
- 3,467.0
-3,591.8
509.1

-4,579.1
329.1
3,347.3
-235.7
-2,782.5
-4,909.5
2.0

10 461.2

17,146.1
24,328.4
-2,995.8
- 4,589.8
- 5,148.8
673.3

- 4,789.9
912.6
4,443.9
- 554.0
- 2,977.3
- 5,722.5
20.0

12 356.2

Foreign trade turnover made $ 44.7 bln and foreign trade balance completed with positive balance of $ 24.3 bln. Azerbaijan had trade contacts with 154 countries, during the same period.

Commodity export made $ 34.5 bln during the same period. Oil-gas productions made 95.3% of exported goods. $31.6 bln-ol products were exported to foreign countries. $1.8 bln of this were oil products, $29.8 bln â€“ crude oil. $28.2 bln of exported crude oil was extracted by Azerbaijan International Operation Company. $1.6 bln of crude oil was exported to abroad by other enterprises and $114.4 mln belonged to condensate from Shahdeniz, $ 1,500.4 mln- from SOCAR.

(mln. USD)

Structure of export
Â	2010	2011
Fuel and raw products	25,398.6	33,435.6
- oil-gas products	25,398.5	32,871.0
-other raw	291.1	564.6
Machine and equipments	336.1	177.7
Consumption goods	725.6	841.1
Other goods	15.7	40.5
Total	26,476.0	34,494.9

The commodity import made $ 10.2 bln during the same period. Consumer goods import made $ 3,884.1 mln. $ 1,267.7 mln of this was foodstuffs.

(mln. USD)

Structure of import
Â	2010	2011
Consumption goods	2,954.3	3,884.1
- food products	1,050.4	1,267.7
- non-food products	1,903.9	2,616.4
Investment goods	689.0	877.5
Other goods	3,102.3	5,274.0
Total	6,745.6	10,166.5