Finance

Finance

Azerbaijan increases negative balance on services by 1.8 times

18 June 2012 13:39 (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 $ 2,497.1 mln, during the first quarter of 2012. According to CBA, $ 1,715.1 mln of this were made by services consumed by non-residents to Azerbaijanâ€™s residents, $ 781.0 mln by Azerbaijanâ€™s residents to non-residents.

Thus, the negative balance on services was $ 934.1 mln, during the same period, up 78.7% compared to a year ago.

14.9% of mutual services turnover came from operations on transport. Total cost of transport services made $ 373.1 mln and 61.9% 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 $ 142.2 mln. Thus, the negative balance on transport services made $ 88.7 mln.

Services to the foreign residents on tourism amounted $ 466.0 mln. In turn, the tourism services consumed by foreign residents to Azerbaijanis in their country stood at $ 581.5 mln. As a result, the negative balance on tourism made $ 115.5 mln.