BAKU, Azerbaijan, June 13. The total value of services in Azerbaijan's relations with foreign countries amounted to $2.6 billion from January through March 2022, Trend reports citing a report of Central Bank of Azerbaijan (CBA).
According to CBA, services worth $1.6 billion were provided by non-residents to residents of Azerbaijan, $1 billion - by residents of Azerbaijan to residents of foreign countries. As a result, the deficit in the balance of services decreased by 23.3 percent to $627.5 million.
According to the report of CBA, the deficit in balance of services in oil and gas sector (mainly construction, etc.) amounted to $477.3 million (a decrease of 29.8 percent). The deficit in the balance of services in non-oil sector amounted to $150.2 million (an increase of 8.8 percent).
Some 37.5 percent of turnover of mutual services fall on operations on transport services, of which 61.6 percent fall on the use of Azerbaijan's transport services by non-residents. The cost of transport services provided by residents of Azerbaijan to non-residents amounted to $612.6 million, and the cost of transport services provided by non-residents to residents of Azerbaijan - $381.9 million.
The export of transport services of non-oil sector increased by 3.6 percent during the reporting period, and import - by 15.1 percent. As a result, the surplus of transport services increased by 10.3 percent to $230.6 million in the first quarter of 2022.