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Azerbaijan becomes attractive country for gastarbeiters

14 December 2012 14:44 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. Total sum of transactions with foreign countries on current transfers reflected in Balance of payment made $ 2,783.2 mln in January-September, 2012. Central Bank of Azerbaijan says that $ 1,302.1 mln or 46.7% of this made receipts into country, $1,481.1 mln or 53.3% - transfers from country.

So, negative balance in amount of $178.9 mln was created in current transfers operations, up 49.2% from two quarters. Note that this is the first negative balance that observed on currency transfers. For comparison to note that $ 531.9 mln-positive balance was observed in 9 months of 2011. Note that transfers to the country declined 6.6%, from country – rose 71.6%.

94.4% of total receipts on current transfers made money boards transferred to individuals from foreign countries, 1.9% - humanitarian goods and 3.7% - other receipts.

Note that decrease of transfers to country and increase of transfers from country do not coincide with the tendencies observed due to number and incomes of Azerbaijani citizens abroad declined and at the same time, incomes and number of foreigners in Azerbaijan grew. Consequently, Azerbaijan is profitable country for gastarbeiters.