Baku. Vahab Rzayev – APA-Economics. During the first quarter of 2013, positive balance of Azerbaijan’s BoP (balance of Payment) made $1,674.4 mln, down 30.8% from 2012.
Central Bank of Azerbaijan says foreign economic operations had positive balance on oil-gas sector, negative balance on non-oil sector. Total receipts on oil-gas sector are formed from oil and natural gas export and foreign capital involved in this sector. The payments on this sector reflects repatriation of profit and investments, import if equipments and services.
Consequently, total positive balance on oil-gas sector in January-March 2012 made $ 5.8 bln. During the reporting period, surplus on current accounts made $ 4.0 bln. Surplus of oil-gas sector has completely covered $1.8 bln-deficit of current account on non-oil sector.
BoP main indexes
(mln. dollar)
|
|
1st quarter of 2012 |
1st quarter of 2013 |
|
I. Balance of current operations 4,635.3 4,045.9 Foreign trade balance 6,816.5 5,893.1 Service balance - 934.1 - 647.6 Income balance - 1,285.1 - 1,160.3 - Repatriation of investment incomes - 1,373.8 - 1,166.1 Current transfers balance 38.0 - 36.5
II. Balance of movement of Capital and finance - 2,217.1 - 2,630.5 - Involved in Azerbaijan 1,161.0 1,419.7 - Directed to abroad - 206.7 - 184.8 - Repatriation of investments - 745.5 - 840.9 Credits and other investments - 2,427.9 - 3,736.5
III. BoP total balance 2,418.2 1,674.4 |
||
Foreign trade turnover made $10.7 bln and as it seems foreign trade balance resulted in positive balance of $5.9 bln. During this period, Azerbaijan had trade links with 125 countries. 9.4% of foreign trade was consumed with CIS countries, 90.6% - with other foreign countries.
According to BoP, export of goods made $8.3 bln, down 7.5% from previous year. Share of oil-gas products in this structure made 94.5%. $7.4 bln-oil products were exported to foreign countries. Of this, $ 0.4 bln was oil processing products, $7.0 bln – crude oil. $6.6 bln of crude oil exported is total worth of oil extracted by Azerbaijan International Operation Company. $0.4 bln of crude oil exported was sent by other enterprises. Of this, $42.7 mln fell to share of condensate extracted from Shahdeniz, $332.2 mln – to SOCAR.
Note that during the first quarter of 2013, Azerbaijan’s non-oil export soared 28.6% to $452.1 mln.
(mln. dollar)
|
Export |
||
|
|
1st quarter of 2012 |
1st quarter of 2013 |
|
Fuel and crude materials |
8,770.1 |
7,971.4 |
|
- oil-gas products |
8,618.5 |
7,841.8 |
|
-other materials |
151.6 |
129.6 |
|
Machine and equipment |
28.3 |
127.1 |
|
Consumption goods |
167.7 |
185.6 |
|
Other goods |
3.9 |
9.8 |
|
Export, total |
8,970.0 |
8,293.9 |
As it seems, the decline occurred from reduction of oil-gas products. So, the decline on oil-gas products made $776.7 mln, while total export decline stood at $676.1 mln.
Total worth of import of goods to Azerbaijan made $2.4 bln, up 11.5% from previous year. Consumption goods import amounted to $1,087.6 mln, which $292.8 mln of this fell to share of food products.
(mln. dollar)
|
Import |
||
|
|
1st quarter of 2012 |
1st quarter of 2013 |
|
Consumption goods |
889,7 |
1,087.6 |
|
- Food products |
301,1 |
292.8 |
|
- Non-food products |
598,6 |
794.8 |
|
Investment goods |
163,5 |
251.6 |
|
Other goods |
1,090.3 |
1,061.7 |
|
Import, total |
2,153.5 |
2,400.9 |
As it seems, consumption goods import mainly increased though non-food products. So, total growth on consumption goods import made $197.9, non-food products - $196.2 mln. Food products dropped $8.3 mln.
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