Surplus of Azerbaijan's current account balance exceeds $5B

A surplus of $5,154.6 million (-50.1%) was formed in Azerbaijan's current account balance in the first half of this year, Report informs, citing the Central Bank of Azerbaijan.

The total surplus of $7,488.9 million (-42.5%) in the foreign trade balance was formed thanks to a gap in the balance of services of $1,113.8 million (-16.4%), a deficit in the balance of the primary income of $1,817.6 million (-31.5%) and a surplus of $597.1 million (2.2 times less) in the recurring income balance.

"During the reporting period, the current account balance amounted to 14.5% of the value of the gross domestic product (GDP). In the oil and gas sector, the surplus in the current account balance decreased by 34.5% compared to the same period last year and reached $8.2 billion, while the gap in the current account balance on the non-oil and gas sector increased by 37.8% to $3.1 billion," CBA said.