Azerbaijani tourists spending abroad grows by over 15 percent

Business Materials 12 September 2014 17:22 (UTC +04:00)

Baku, Azerbaijan, Sept. 12

By Zulfiyya Gurbanova - Trend:

One of the leading places in Azerbaijan's foreign economic relations in the first half of 2014 was held by counter services, the total volume of which was $7 billion, according to a payment from Azerbaijan's Central Bank.

According to the payment balance, the services worth $5 billion were rendered by non-residents to the residents of Azerbaijan. During this period, Azerbaijani residents rendered $2 billion worth of services to foreign countries' residents.

Some 12.9 percent of the balance of services were account for by transportation services.

In total the rendered transport services amounted to $905.4 million. Of these, 48.5 percent account for the use of the foreign countries' transport systems by Azerbaijani residents. The cost of transportation services rendered by residents to non-residents was $465.9 million.

Between January-June, 2014, the cost of tourist services provided to foreigners visiting Azerbaijan totaled $1.1 billion. Some 31.5 percent of these services were rendered to non-residents visiting Azerbaijan on business trips.

In turn, the travel services rendered to Azerbaijan's residents by foreign countries rose 15.4 percent, reaching $1.6 billion versus the same period of last year. Of these funds, some 65.4 percent were spent on personal services.

In the first half of 2014, the specific weight of the counter services in Azerbaijan's total export-import operations with foreign countries totaled 25.9 percent.

Edited by CN