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Azerbaijan ends 1Q17 with surplus of secondary income operations

Business Materials 19 June 2017 21:14 (UTC +04:00)

Baku, Azerbaijan, June 19

By Anvar Mammadov – Trend:

In January-March 2017, individuals transferred $293.45 million to Azerbaijan from foreign countries, which is 17.4 percent less than in the same period last year, reads the balance of payments for the first quarter of 2017 posted on the website of the Central Bank of Azerbaijan (CBA).

For comparison: in the first quarter of 2016, individuals transferred $355.3 million to Azerbaijan from foreign countries.

The volume of money transfers by individuals to Azerbaijan in January-March 2017 amounted to 95.9 percent of the total volume of income from secondary operations, according to the balance of payments.

During the reporting period, secondary income transactions totaling $306 million were carried out by Azerbaijan with foreign countries, which is 18.2 percent less than in the first quarter of 2016. Of these, 68.7 percent accounted for revenues to Azerbaijan.

The value of humanitarian goods imported into Azerbaijan for the reporting period was 3.2 percent, and other revenues amounted to 0.9 percent of the total volume of the secondary income transactions.

A surplus of Azerbaijan’s secondary income operations was formed, and this surplus amounted to $115 million.

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