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Azerbaijan sees 7% decline in negative balance on incomes

14 December 2012 12:20 (UTC +04:00)

Baku. Vahab Rzayev – APA-ECONOMICS. The total turnover of incomes and payments on revenue in BoP (balance of payment) was accounted $ 5,148.6 mln, in January-September, 2012.

Central Bank of Azerbaijan says $ 4,290.0 mln or 83.3% of this was payments from Azerbaijan, $ 858.5 mln or 16.7% - income related revenue.

Thus, the negative balance in BoP on income made $ 3,431.5 mln in 9 months of 2012, down 7.3% compared to a year.

Most of payments from Azerbaijan are repatriation of incomes of foreign investors of international oil-gas consortiums ($ 3.3 bln), wages for non-residents ($ 133.0 mln) and paid interests for using the foreign credits ($ 231.4 mln).

Totally, 95.8% or $ 3,288.3 mln of negative balance on income belonged to oil-gas sector, AZN 143.2 mln or 4.2% - to other spheres. Oil-gas sector’s payments exceeded the incomes by 27.8 times.