Azerbaijan increases negative balance on services by 1.5 times

Azerbaijan increases negative balance on services by 1.5 times
# 12 September 2012 13:40 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. Total volume of the mutual services in the structure of economic relations with foreign countries made $ 5,288.9 mln, in the first half of 2012. CBA says $ 3,529.2 mln of this made by services consumed by non-residents to Azerbaijan’s residents, $ 1,759.6 mln by Azerbaijan’s residents to non-residents.

Thus, the negative balance on services was $ 1,769.6 mln, during the same period, up 48.6% compared to a year ago.

16.2% of mutual services turnover came from operations on transport. Total cost of transport services made $ 857.8 mln and 62.4% 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 $ 322.7 mln. Thus, the negative balance on transport services made $ 212.4 mln.

Services to the foreign residents on tourism amounted $ 1,003.1 mln. In turn, the tourism services consumed by foreign residents to Azerbaijanis in their country stood at $ 1,188.0 mln. Consequently, the negative balance on tourism made $ 184.9 mln.
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