In the first half of 2024, the total volume of services in Azerbaijan's economic relations with foreign states amounted to USD 8.3 billion. Of this, USD 4.7 billion were services provided by non-residents to Azerbaijani residents, while USD 3.6 billion were services provided by Azerbaijani residents to foreign residents, APA reports citing the Central Bank of Azerbaijan.
It was noted that the overall deficit in the services balance decreased by 0.2% to USD 1.1 billion. The deficit in the services balance of the oil and gas sector (mainly construction services and other business services) was USD 0.9 billion. The deficit in the services balance of the non-oil and gas sector, however, reached a neutral level of 0.2 billion dollars.
It was stated that 29.2% of the total turnover of services is attributable to transportation services. Of the total value of 2.4 billion dollars in transportation services, 61.6% was related to the use of Azerbaijan's transportation services by non-residents. The value of transportation services provided by Azerbaijani residents to non-residents was 1.5 billion dollars, while the value of transportation services provided by non-residents to Azerbaijani residents was 0.9 billion dollars.
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