Azerbaijan’s BOP surplus exceeds $1B 

In the first half of 2021, the balance of payment (BOP) surplus made up $1,261,300,000 in Azerbaijan, while there was a gap of $957.5 million in the same period of 2020, Report informs, citing the Central Bank of Azerbaijan.

The surplus was formed from the gap of $1,878,400,000 in the current account (+3.1-fold from a year earlier), $4.6 million gap in the capital account (+40.3%), $578.5 million gap in the financial account (-39%), and $34 million-gap on net errors and omissions.

The BOP was mainly affected by the price recovery in global commodity markets and the expansion of non-oil export. During the reporting period, the average price of crude oil was $58 a barrel and non-oil export surged 20%.