Balance-of-services deficit exceeds $1 bln in Azerbaijan
Azerbaijan, Baku, Sept.21, Trend, N.Ismayilova/
The balance of mutual services has occupied a leading position with total volume of $3.544.9 billion in Azerbaijan's external economic ties in the first half of 2011, the Central Bank of Azerbaijan reported on Wednesday.
According to report, services worth $2.367.8 billion were provided by non-residents to residents of Azerbaijan, while services worth $1.177.1 billion were provided to residents of foreign countries. Thus, surplus of balance of services was negative and hit $1.190.7 billion.
Some 20.9 percent in the balance of mutual services accounts for transportation services worth $739.5 million. Of these, 52.5 percent account for the services provided to Azerbaijani residents for the use of transport systems of foreign countries. The cost of transport services provided by Azerbaijan to non-residents is $351.2 million.
In the first half-year, the cost of travel services provided to foreigners in Azerbaijan amounted to $516.8 million. Some 31.3 percent of these services are provided to non-residents, visiting Azerbaijan on a business trip.