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Azerbaijan sees 25% rise in negative balance on service

20 June 2011 11:15 (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 Q1 of 2011. According to CBA, $ 1,049.2 mln of this made by services consumed by non-residents to Azerbaijanâ€™s residents, $ 526.6 mln by Azerbaijanâ€™s residents to non-residents.

Thus, the negative balance on services was $ 522.6 mln, during the same period, up 25.4% compared to a year ago.

21% of mutual services turnover came from operations on transport. Total cost of transport services made $ 331.7 mln, of which, 47.7% 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 $ 173.6 mln. Thus, the negative balance on transport services made $ 15.7 mln.

Services to the foreign residents on tourism amounted $ 191.2 mln. In turn, the tourism services consumed by foreign residents to Azerbaijanis in their country stood at $ 257 mln. As a result, the negative balance on tourism made $ 65.8 mln.