Azerbaijan sees 18% rise in negative balance of services

Azerbaijan sees 18% rise in negative balance of services
# 17 December 2012 12:31 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. Total volume of mutual services in economic relations with foreign countries, which were reflected in Balance of payments on January-September, 2012, made $ 8,135.5 mln. Central Bank of Azerbaijan says $5,265.5 mln is the cost of services provided by non-residents to Azerbaijani residents, $2,879.0 mln – by Azerbaijani residents to foreign countries residents.

Thus, balance of services made $2,377.4 mln, up 18.3% from year earlier.

15.9% of mutual services turnover fell on share of operations conducted on transport services. 59.3% of transport services with the total cost of $1,293.6 mln was related with usage of Azerbaijani residents from transport systems of foreign countries. Total worth of services conducted by Azerbaijani residents to non-residents made $ 526.4 mln. So, negative balance on transport services stood at $ 240.9 mln.

Cost of tourism services provided to foreign citizens made $ 1,559.5 mln. In turn, the worth of tourism services provided to Azerbaijani citizens was $1.797.4 mln. Consequently, negative balance on tourism services stood at $247.9 mln.

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