BAKU, Azerbaijan, July 27. Revenue from Azerbaijan's oil and gas sector totaled 8.198 billion manats ($4.82 billion) in the first half of 2026, exceeding the forecast by 21.2 million manats ($12.5 million), or 0.3%, according to the Finance Ministry.
The ministry said oil and gas revenue was 1.328 billion manats ($781.2 million), or 13.9%, lower than in the same period of 2025.
Of total oil and gas revenue, 1.778 billion manats ($1.05 billion), or 21.7%, came from tax receipts, down 22.2% year over year. The remaining 6.420 billion manats ($3.78 billion), or 78.3%, consisted of transfers from the State Oil Fund of the Republic of Azerbaijan (SOFAZ), down 11.3% from a year earlier.
Overall, Azerbaijan's state budget revenues totaled 19.179 billion manats ($11.28 billion) in the first six months of 2026, while expenditures reached 16.776 billion manats ($9.87 billion), resulting in a budget surplus of 2.404 billion manats ($1.41 billion).
Budget revenues exceeded the forecast of 18.829 billion manats ($11.08 billion) by 350.3 million manats ($206.1 million), or 1.9%, reaching 49.7% of the annual revenue target.
Excluding SOFAZ transfers, state budget revenues amounted to 12.759 billion manats ($7.51 billion), exceeding the forecast by 2.8%.
Tax revenues accounted for 8.843 billion manats ($5.20 billion), or 46.1%, of total budget revenues. SOFAZ transfers totaled 6.420 billion manats ($3.78 billion), or 33.5%, while customs revenues reached 3.144 billion manats ($1.85 billion), or 16.4%. The remaining revenue came from paid services provided by state-funded organizations, leasing of state property and other sources.
Compared with budget projections, tax revenues exceeded the target by 217.7 million manats ($128.1 million), customs revenues by 10.4 million manats ($6.1 million), income from leasing state property by 5.5 million manats ($3.2 million), and other revenues by 246.2 million manats ($144.8 million). Revenue from paid services provided by state-funded organizations fell 108.7 million manats ($63.9 million) below the forecast, while SOFAZ transfers were executed as planned.
Compared with the first half of 2025, tax revenues increased by 139 million manats ($81.8 million), customs revenues by 52.5 million manats ($30.9 million), income from leasing state property by 6.3 million manats ($3.7 million), and revenue from paid services provided by state-funded organizations by 38.6 million manats ($22.7 million).
