BAKU, Azerbaijan, Dec. 16
By Zeyni Jafarov - Trend:
The deficit in the balance of primary income in Azerbaijan’s oil and gas sector amounted to $1.4 billion and a surplus of $600 million was observed in the non-oil sector from January through November 2020, Trend reports on Dec. 16, citing the data from the Central Bank of Azerbaijan (CBA).
As a result, the overall deficit in the balance of primary income decreased by 44.7 percent, amounting to $800 million.
The total turnover of receipts and payments on primary income amounted to $3.1 billion. Some 62.8 percent or about $2 billion of that volume accounted for payments to non-residents from Azerbaijan.
A big part of this amount worth about $1 billion accounts for the repatriation of income of foreign investors upon international oil and gas consortia (mainly in the form of crude oil).
Interest payments to non-residents on the securities portfolio were estimated at $300 million while interest paid for the use of foreign loans was $400 million. Roughly $400.1 million accounted for other fees.
The deficit worth $1.8 billion was formed in Azerbaijan’s balance of payments from January through September 2020, while a surplus worth $ 4.1 billion was observed in Azerbaijan’s balance of payments in the same period of last year.
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