Surplus of Azerbaijan's current account balance down by 15%

A surplus of $3,376.2 million (-14.6%) was formed in Azerbaijan's current account balance in the first quarter of this year, Report informs, citing the Central Bank of Azerbaijan.

The total surplus of $4,720.7 million (-13.3%) in the foreign trade balance was formed thanks to a gap in the balance of services of $686.8 million (+9.5%), a deficit in the balance of the primary income of $955.9 million (-0.6%) and the surplus of $298.2 million (3.1 times more) in the recurring income balance.

"During the reporting period, the current account balance amounted to 18.9% of the value of the gross domestic product (GDP). In the oil and gas sector, the surplus in the current account balance decreased by 7.6% compared to the same period last year and reached $5.1 billion, while the gap in the current account balance on the non-oil and gas sector increased by 10.3% to $1.7 billion," CBA said.