Transaction volume on Azerbaijan’s current transfers increases by over $1 billion
Azerbaijan, Baku, April 1 / Trend I. Khalilova /
The total value of transactions on current transfers carried out by Azerbaijan and foreign countries amounted to $4 billion as of 2012. Around 49.4 per cent fell to earnings, the balance of payments posted on the website of the Azerbaijani Central Bank (CBA) said today. As of 2011, this figure was $3.091.3 billion, including 60.9 per cent fell to the earnings.
Around 94.8 per cent of the total income on the current transfers falls to the money transfers of foreign physical entities, 1.7 per cent to the cost of humanitarian goods imported into the country and 3.5 per cent to other income. In general, the negative balance on the current transfers amounted to $50 million.
According to the balance of payments, the total turnover on payments and earnings in 2012 amounted to $6.5 billion of which 83.2 per cent ($5.4 billion) fell to Azerbaijan's payment.
The main part of these funds ($4.2 billion) fell to repatriation of income in the form of oil of foreign investors from international oil and gas consortiums, wages paid to non-residents ($180.4 million) and interest on foreign loans ($331.7 million). In 2011, the volume of repatriated income was $4.640.3 billion, salaries of non-residents - $141.3 million and interest on foreign loans $248.6 million.