The total volume of services in Azerbaijan’s economic relations with foreign countries for 9 months of this year amounted to $13.2 billion.
As Day.Az reports with reference to the Central Bank, of this, $7.4 billion are services provided by non-residents to residents of Azerbaijan, and $5.8 billion are services provided by residents of Azerbaijan to residents of foreign countries.
Overall, the balance of services deficit fell 10.5% to $1.6 billion, the data showed. The balance sheet deficit in the oil and gas sector (mostly construction and other business services) was $1.4 billion. The deficit in the balance of services in the non-oil and gas sector reached a neutral level ($0.2 billion).
28.5% of the turnover of mutual services comes from transport services operations. 61.5% of transport services with a total value of $3.7 billion were associated with the use of transport services by non-residents of Azerbaijan. The cost of transport services provided by residents of Azerbaijan to non-residents amounted to $2.3 billion, and the cost of transport services provided by non-residents to residents of Azerbaijan was $1.4 billion.
During this period, exports of transport services in the non-oil and gas sector increased by 14.8%, and imports by 10.4%. As a result, the surplus for transport services increased by 5.5%, to $862.1 million.
Note that the surplus in transport services for 9 months of 2023 amounted to $816.9 million. Over the first 9 months of 2024, the turnover of mutual tourism services increased by 42.7% and amounted to $2.8 billion. A surplus of $0.4 billion resulted from the fact that during the reporting period, exports of tourism services ($1.6 billion) exceeded imports ($1.2 billion). During this period, the number of Azerbaijani citizens traveling abroad increased by 18.9%, and the number of foreign citizens arriving in Azerbaijan increased by 29.1%.
The volume of services provided to residents of Azerbaijan by foreign countries in connection with tourism amounted to $1.2 billion. Of these, 78.4% were associated with private visits of Azerbaijani citizens. During the reporting period, the volume of construction services to non-residents in the non-oil and gas sector decreased by 11.4% and amounted to $25 million. The volume of other business services provided to non-residents in the non-oil and gas sector increased by 57.3% and amounted to $1.4 billion.