Azerbaijan's payments balance surplus reaches almost $5 bln

Based on the payments balance published by the Central Bank of Azerbaijan (CBA), the current account surplus of payments balance amounted to $14.9 billion up to 2012, falling by 13 percent.

The current account surplus of oil and gas sector amounted to $23.4 billion.

The current account surplus of oil and gas sector fully covers the current account deficit in the non-oil sector of $8.5 billion.

The total payments of balance surplus amounted to $4.96 billion, falling by 2.5 times.

The analysis of the payment balance on the sectors showed that, as in previous years, black ink was observed in the foreign trade operations in the oil and gas sector in January-September 2012 and red ink in the non-oil sector.

Total foreign trade turnover amounted to $43.1 billion and black foreign trade surplus - $22.2 billion in January-December 2012. Moreover, goods were imported in the amount of $10.4 billion and export operations - $32.6 billion. In the structure of exports 94.1 percent accounted for oil and gas production.

During the reporting period, the total value of imports of consumer goods amounted to 4375.9 million, of which 1303.6 million accounted for food products.

During the reporting period, trade relations were established with 157 countries. 9.7 percent of trade turnover fell to the transactions with the CIS countries and 90.3 percent - other foreign countries.

Intensive trade relations were observed with Italy, U.S., France, Turkey, Russia, Great Britain Israel, India, Indonesia and Germany. Some 67.4 percent of Azerbaijan's export-import operations fell to these countries.


/Trend/