Surplus of current operations’ balance of Azerbaijan decreased by more than 5 times

Surplus of current operations’ balance of Azerbaijan decreased by more than 5 times
  • Clock-gray 16:05
  • calendar-gray 14 September 2020

In the conditions when foreign environment is unfavorable, during January-June of 2020, the surplus valued at $ 598,2 mln. accrued in the balance of the current operations being the main items of payment balance of Azerbaijan, and the deficit valued at $ 956,4 mln. accrued on the capital and finance movement account, while the reserve assets decreased by $957,5 mln., reads the report about payment balance issued by the Central Bank of Azerbaijan (CBA), APA-Economics reports.

It was noted that during that period, average price of one barrel of oil was $41,9, whine the non-oil export decreased by 6,1%.

In the reporting period, the surplus of the current operations’ balance decreased by 5,1 times compared to relevant period of the last year and made up $598,2 mln. The surplus of the current operations’ balance for oil and gas sector decreased by 1,9 times ($2,8 bln.) in the annual expression and amounted to $3,3 bln., while the deficit for the non-oil sector decreased by 12,1% ($0,4 bln.) and amounted to $2,7 bln. Consequently, the surplus of the oil and gas sector on the current operations’ balance fully covered the deficit of the non-oil sector. This surplus mainly formed at the expense of the foreign trade balance surplus.

APA-Economics

Other news