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Azerbaijan sees rise in negative balance of services

31 March 2011 13:15 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Total volume of the mutual services in the structure of economic relations with foreign countries made $ 5 862.7 mln, in 2010, According to CBA, $ 3 797.8 mln of this made by services consumed by non-residents to Azerbaijanâ€™s residents, $ 2 064.9 mln by Azerbaijanâ€™s residents to non-residents.

Thus, the negative balance on services was $ 1 732.9 mln, during the same period, up 7.5% compared to a year ago.

24.63% of mutual services turnover came from operations on transport. Total cost of transport services made $ 1 444.7 mln and $ 800.1 mln or 55.4% of this was related to using of Azerbaijani residents the transport facilities of foreign countries. Total cost of services consumed by Azerbaijani residents to foreign residents made stood at $ 644.0 mln. Thus, the negative balance on transport services made $ 156.7 mln, up 12.4% from year earlier.

Services to the foreign residents on tourism amounted $ 745 mln. In turn, the tourism services consumed by foreign residents to Azerbaijanis in their country stood at $ 620.7 mln. As a result, the negative balance on tourism made $ 124.3 mln, up 4.6 times from year ago.