The trade surplus of Azerbaijan reduced by 2.3 times

Balance of payments in Azerbaijan in January-September 2012 summed up with a surplus of $ 4,478.3 million that is 2.3 times less than in the corresponding period of 2011. The current account balance of payments surplus fell by 20.1% to $ 11.5 billion, while the deficit of the capital account and finance increased by 76.4% to $ 7.04 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 ($ 17.9 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 $ 17.5 billion. The export of goods (94.5% - oil and gas sector) decreased 7.5% to $ 24.8 billion and the imports increased 1% to $ 7.29 billion.

The deficit on the balance of services increased 20% to $ 2.4 billion and the deficit in the balance of income was over $ 3.43 billion.

The total volume of foreign capital grew by 31% and in the end of the first three quarters was $ 7.59 billion, while direct investment increased by 27.2% to $ 3,974 million. -15B-