Finance

Finance

Azerbaijan sees growth in negative balance on services

18 September 2013 09:01 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. Total volume of the mutual services in the structure of economic relations with foreign countries made $ 6,123.8 mln in January-July, 2013. According to CBA, of this, $ 4,084.2 mln came from services consumed by non-residents to Azerbaijan’s residents, $ 2,039.5 mln by Azerbaijan’s residents to non-residents.

Thus, the negative balance on services was $ 2,044.6 mln, during the same period, up 15.5% compared to a year ago.

13.8% of mutual services turnover came from operations on transport. Total cost of transport services made $ 842.2 mln, of which, 57.4% was related to using of Azerbaijani residents the transport facilities of foreign countries. Total cost of services consumed by Azerbaijani residents to non-residents made $ 358.5 mln. Thus, the negative balance on transport services made $ 125.2 mln, down 1.7 times compared with a year earlier.

Services to the foreign residents on tourism amounted to $ 1,207.7 mln. In turn, the tourism services consumed by foreign residents to Azerbaijanis in their country stood at $ 1,362.3 mln. Consequently, the negative balance on tourism made $ 154.6 mln, down 16.2 % from previous year.