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Report: Capital flow from Azerbaijan stood at $4.3 bn in 2001-2010

20 December 2012 10:07 (UTC +04:00)

According to the report, prime time in withdrawing the money from the country was observed in 2008-2010 – during this period money flow from Azerbaijan to abroad settled at $3.3 bn.

In preparation of the report, the GFI organization compared the figures of state bodies on countries’ balance of payment and the volume of import-export operations.

The report found that $5.86 trillion left the developing world due to crime, corruption, and tax evasion from 2001-2010. $858.8 billion was withdrawn from 143 countries in 2010 alone, up 13.6% from 2009. Record indicator in this sphere was noted down in 2008 - $871.3 bn.

According to report, the biggest financial funds outflow was recorded in China ($2.74 billion). Nearly half ($420 mln) of the total outflows in 2010 fell to share of China.

In 2001-2010, $4.288 bn left Azerbaijan. According to organization’s information, in 2001 Azerbaijan lost $1 mln, in 2002 - $87 mln, in 2003 - $112 mln, in 2004 - $50 mln, in 2005 - $126 mln, in 2006 - $256 mln, in 2007 - $361 mln, in 2008 - $845 mln, in 2009 - $1.461 bn, in 2010 – 990 mln.

In other words, according to the organization, in 2001-2010, the amount of average capital outflow from Azerbaijan made $429 mln per year. For this indicator Azerbaijan settled down at 79^th place among 143 countries. The first place is occupied by China (annual average - $274 bn). The top 10 also includes Mexico ($47.561 bn), Malaysia ($28.524 bn), Saudi Arabia ($20.996 bn), Russia ($15.159 bn), Philippines ($13.8782 bn), Nigeria ($12.904 bn), India ($12.332 bn), Indonesia ($10.886 bn), UAE ($10.650 bn). The list is completed by Senegal ($1 mln).

Note that the first place among the CIS countries belongs to Russia - $152 bn during 10 years. Following places are shared among Kazakhstan ($19.161 bn), Armenia ($5.255 bn), Georgia ($4.773 bn), Ukraine ($4.604 bn), Azerbaijan ($4.288 bn), Moldova ($2.518 bn), Tajikistan ($815 mln), Belarus ($784 mln) and Kyrgyzstan ($711 mln).

Azerbaijan stood at the 6 th place among the CIS countries. In 2001-2003, Turkmenistan lost $1.978 bn. There is no data for the next periods. But average indicator on the first 3 years is shown at $659 mln. No such information was found out on Uzbekistan.