Finance

Home page

Finance

Azerbaijan sees decline in negative balance on services

03 April 2013 12:58 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. Total volume of the mutual services in the structure of economic relations with foreign countries made $ 11,485.5 mln in 2012. According to CBA, of this, $ 7,204.6 mln came from services consumed by non-residents to Azerbaijan’s residents, $ 4,280.8 mln by Azerbaijan’s residents to non-residents.

Thus, the negative balance on services was $ 2,923.8 mln, during the same period, down 2.4% compared to a year ago.

14.9% of mutual services turnover came from operations on transport. Total cost of transport services made $ 1,708.7 mln, of which, 56.7% was related to using of Azerbaijani residents the transport facilities of foreign countries. Total cost of services consumed by Azerbaijani residents to non-residents made $ 740.3 mln. Thus, the negative balance on transport services made $ 228.0 mln, up 19.4% compared with a year earlier.

Services to the foreign residents on tourism amounted to $ 2,433.3 mln. In turn, the tourism services consumed by foreign residents to Azerbaijanis in their country stood at $ 2,476.9 mln. Consequently, the negative balance on tourism made $ 43.6 mln, down 9.2 times from previous year. The receipts on tourism rose 1.9 times, expenditures – 46.7%.