Positive balance of BOP drops 1.9 times in Azerbaijan

Positive balance of BOP drops 1.9 times in Azerbaijan
# 11 September 2012 13:18 (UTC +04:00)
Baku. Vahab Rzayev – APA-ECONOMICS. The positive balance of Azerbaijan’s BOP (balance of payments) made $ 3,924.1 mln during the first half of 2012, down 1.9 times compared to a year ago.

CBA says foreign economic operation had positive balance on oil-gas sector, negative balance on non-oil sector, during the same period. 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 during January-June, 2012, made $ 12 bln.

Payment surplus on current transactions made $8.2 bln.

Main indexations of payment balance (mln. USD)
(mln. dollar)

(mln. doll.)

 

2011, 6 months

2012, 6 months

I. Balance of current
transaction account                                10,220.3                     8,162.1                                      
Foreign trade balance                               13,677.8                       12,403.5
Service balance                                       - 1,190.7                        - 1,769.5
Income balance                                       - 2,604.4                       - 2,352.0
- Repatriation of investment incomes          - 2,776.0                      - 2,443.7
Balance of current transfers                      337.6                            - 119.9

II. Balance of activity of
capital and finance                           - 2,670.4                                - 4,238.0
Direct investment                             498.4                                       244.5
- involved to Azerbaijan                         2,000.5                                 2,496.1
- Directed to abroad                                 - 103.7                             - 689.6
- Repatriation of investments                - 1,398.4                              - 1,562.0
Credits and other investments                 - 3,168.8                              - 4,484.5
Oil bonus                                          -                                                 2.0

III. Total balance of
payment balance                              7,549.9                                     3,924.1



Foreign trade turnover made $ 22.0 bln and foreign trade balance completed with positive balance of $12.4 bln. Azerbaijan had trade contacts with 138 countries, during the same period.

Commodity export made $ 17.2 bln during the same period. Oil-gas productions made 94.0% of exported goods. $15.6 bln-oil products were exported to foreign countries. $805.3 mln of this were oil products, $14.8 bln – crude oil. $13.9 bln of exported crude oil was extracted by Azerbaijan International Operation Company. $908.1 mln of crude oil was exported to abroad by other enterprises and $69.0 mln belonged to condensate from Shahdeniz, $ 385.6 mln- from SOCAR.

Note that, non-oil export of the country rose 29.8% to $ 1,020.1 mln.

(mln. doll.)

Structure of export

 

2011, 6 months

2012, 6 months

Fuel and raw products

17,766.4

16,527.2

- oil-gas products

17,465.6

16,205.1

-other raw

300.8

322.1

Machine and equipments

86.8

271.5

Consumption goods

371.9

406.2

Other goods

26.5

20.3

Export, total

18,251.6

17,225.2



The commodity import made $ 4.8 bln during the same period. Consumer goods import made $ 2,028.8 mln. $ 607.1 of this was foodstuffs.
(mln. doll.)

Structure of import

 

2011, 6 months

2012, 6 months

Consumption goods

1,746.8

2,028.8

- food products

622.0

607.1

- non-food products

1,124.8

1,421.7

Inestment goods

368.4

444.1

Other goods

2,458.5

2,248.8

Total

4,573.7

4,821.7








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