BAKU, Azerbaijan, Dec. 15
By Fidan Babayeva – Trend;
The volume of Azerbaijan's exports in the oil and gas sector decreased by 37.5 percent in the first nine months of 2020, compared to the same period of 2019, amounting to $8.5 billion, Trend reports with reference to the reporting data of the Central Bank of Azerbaijan (CBA).
The reason for the decrease was caused by a decrease in oil production by 11 percent and a drop in crude oil prices on global markets by 35.2 percent, to $41.6 per barrel in the first nine months.
At the same time, the export of oil and petroleum products amounted to $6.8 billion, including oil exports for $6.5 billion, the report says.
The export of goods from Azerbaijan for the reporting period amounted to $9.8 billion, which is 35 percent less compared to the same period of 2019.
In the first nine months of 2020, non-oil exports decreased by 9.3 percent year on year, amounting to $1.2 billion.
To remind, from January through September 2020, the total deficit of the balance of payments of Azerbaijan amounted to $1.8 billion.
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