15:52 - 12.09.2023

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September 12, Fineko/abc.az. The current account surplus of Azerbaijan's balance of payments amounted to $5.154 bn or 14.5% of GDP in the 1st half of 2023.

ABC.AZ informs that this is reported in the balance of payments of Azerbaijan for Jan-Jun 2023, published by the Central Bank.

According to the data, surplus in the oil & gas sector reached $8.217 bn, deficit in the non-oil sector reached $3.062 bn.

The average oil price for Jan-Jun 2023 was $80.6 a barrel against $101.2 a barrel in the 1st half of 2022.

Over Jan-Jun the foreign trade turnover reached $22.8 bn and Azerbaijan had surplus of $7.5 bn in foreign trade. At that, 13.5% of foreign trade turnover accounted for the CIS countries and 86.5% for non-CIS countries.

Azerbaijan’s exports amounted to $15.157 bn, including oil & gas exports for $13.417 bn. At that, direct export of oil was carried out for $8 bn and gas for $5 bn, petroleum products - $400 million.

Our country’s imports totaled $7.668 bn, including consumer goods for $3.079 bn (food products for $967.4 million) and equipment & special goods for $293.4 million, or 3.8% of total imports.