External Economic Surplus for Jan-June Exceeded $ 3.9 Billion

Balance of Payments of Azerbaijan in the first half of 2012 summed up with a surplus of $ 3,924.2 million is 48.1% less than in the corresponding period of 2011. The current account balance of payments surplus fell by 19.6% to $ 8.2 billion, while the deficit of the capital account and finance increased by 58.8% to $ 4.24 billion.

"As in previous years, the analysis of the balance of payments showed that the balance of foreign trade operations of the oil sector was positive ($ 12.5 billion), and the non-oil sector - the negative," - said in a research note of the Central Bank of Azerbaijan (CBA). That is, except for the energy sector, almost all of the country's economy continues to depend on the import of goods and services.

According to the CBA, the main cause of balance of payments surplus was a trade surplus of $ 12.4 billion. The export of goods (94.1% - oil and gas sector) decreased by 5.9% to $ 17.23 billion and imports of goods increased by 5.5% to $ 4.82 billion

The deficit on the balance of services increased by 41.7% to $ 1.7 billion deficit in the balance of income over $ 2.35 billion

The total volume of foreign capital grew in January-June, up 10.3% to $ 4.41 billion, while direct investment increased by 25% to $ 2,496 million. - 15B -