BAKU, Azerbaijan, April 18. Azerbaijan's revenues from the oil and gas sector to the state budget amounted to 4.77 billion manat ($2.8 billion) in the first quarter of 2025.
Data obtained by Trend from the Ministry of Finance indicates that this figure exceeded the forecast by 6.7 million manat ($3.9 billion) or 0.1 percent and was 213.4 million manat ($125.5 billion) or 4.7 percent higher compared to the same period of 2024.
During the reporting period, 24.2 percent or 1.15 billion manat ($100.7 billion) of oil and gas sector revenues were collected through the State Tax Service, while 75.8 percent or 3.62 billion manat ($2.12 billion) were transfers from the State Oil Fund of the Republic of Azerbaijan (SOFAZ).
Of the oil and gas revenues collected through tax authorities, 49.6 percent or 572.9 million manat ($336.9 million) came from profit tax on the Shah Deniz field, 40.7 percent or 471.1 million manat ($277.1 million) from relevant taxes paid by the State Oil Company of Azerbaijan Republic (SOCAR), and 9.7 percent or 111.7 million manat ($65.7 million) from profit tax of the Azerbaijan International Operating Company (AIOC).
Azerbaijan's state budget revenues for the first quarter of this year surpassed projections, reaching 9.73 billion manat ($5.72 billion), which is 171.3 million manat ($100.7 million) (1.8 percent) more than forecasted. Compared to the same period in 2024, the revenues increased by 5.4 percent, or 499.2 million manat ($293.6 million).
Data indicates that these figures account for 25.4 percent of the projected annual revenue for the current year.
Meanwhile, state budget expenditures amounted to 8.11 billion manat ($4.7 billion), which corresponds to 19.6 percent of the planned annual budget.