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Money transfers to Azerbaijan increases by 40%

Money transfers to Azerbaijan increases by 40%

18 June 2011 11:29 (UTC +04:00)

Baku. Vahab rzayev â€“ APA-Economics. The total volume of transactions carried out with foreign countries in current transfers reflected on the balance of payments in Azerbaijan made $629.5 mln in Q1 of 2011, Central Bank of Azerbaijan told APA. Of these, 61.2% or $385.5 mln fell to share of revenues, AZN 244 mln or 38.8% - transfers out of the country.

So, for the reporting period, 95.3% of revenues accounted for money transfers of individuals, 1.9% - of humanitarian goods, 2.8% - other income from abroad.

In general, the surplus on current transfers transactions totaled $141.5 mln, up 1.9 times from a year ago. Note that, the volume of incoming current transfers in Azerbaijan rose 39.7%, outbound - to 20.6%. Thus, the growth deficit is associated with an increase in transfers received by Azerbaijan, which indicates the termination of the decreasing trend in the coming of Azerbaijan observed in 2009-2010.

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