Azerbaijan's current account balance (CAB) recorded a surplus of $4.7 billion, or 12.4% of gross domestic product (GDP), in the first half of this year, Samir Nasirli, Director of the Statistics Department at the Central Bank of Azerbaijan (CBA), told a press conference.
He said the figure was twice as high as in the same period last year.
"Our balance of payments was significantly affected by developments in the global environment in January-June. Price volatility in commodity, services and financial markets worldwide had a direct impact on our balance of payments. Over the six months, the oil and gas sector recorded a $9 billion surplus in the current account, 24% more than a year earlier, while the non-oil sector posted a deficit of $4.3 billion," the CBA official said.