Finance

Home page

Finance

Azerbaijan sees 5% decline in negative balance on incomes

19 March 2014 13:11 (UTC +04:00)

Baku. Vahab Rzayev – APA-ECONOMICS. The total turnover of incomes and payments on revenue in BoP (balance of payment) was accounted $ 6,179.2 mln, in 2013.

Central Bank of Azerbaijan says $ 5,149.9 mln or 83.3% of this was payments from Azerbaijan, $ 1,029.3 mln or 16.7% - receipts on incomes to the country.

Thus, the negative balance in BoP on income made $ 4,120.6 mln in 2013, down 4.8% compared to a year.

Most of payments from Azerbaijan are repatriation of incomes of foreign investors of international oil-gas consortiums ($ 4.4 bln), wages for non-residents ($ 222.9 mln) and paid interests for using the foreign credits ($ 419.3 mln).

Totally, $ 4,126.5 mln of negative balance on income belonged to oil-gas sector, AZN 5.9 mln or 4.2% - to other spheres. Oil-gas sector’s payments exceeded the incomes by 24.3 times. In other spheres, receipts exceed payments by 0.7% (payments – AZN 846.4 mln, receipts – AZN 852.4 mln).