Finance

Finance

Azerbaijan sees11% decline in negative balance on incomes

12 December 2013 12:51 (UTC +04:00)

Baku. Vahab Rzayev – APA-ECONOMICS. The total turnover of incomes and payments on revenue in BoP (balance of payment) was accounted $ 4,494.0 mln, in January-September, 2013.

Central Bank of Azerbaijan says of this, $ 3.773.0 mln or 84.0% was payments from Azerbaijan, $ 721.0 mln or 16% - income related revenue.

Thus, the negative balance in BoP on income made $ 3,052.0 mln in 9 months of 2013, down 11% compared to a year.

Most of payments from Azerbaijan are repatriation of incomes of foreign investors of international oil-gas consortiums ($ 3.0 bln), wages for non-residents ($ 161.6 mln) and paid interests for using the foreign credits ($ 281.0 mln).

Totally, 95.8% or $ 3,057.6 mln of negative balance on income belonged to oil-gas sector, AZN 5.6 positive balance - to other spheres. Oil-gas sector’s payments exceeded the incomes by 29.7 times.