BAKU, Azerbaijan, June 19. The total volume of services in Azerbaijan’s economic relations with foreign countries reached $4.7 billion in the first quarter of 2025. Of this, $2.7 billion accounted for services provided by non-residents to Azerbaijani residents, while $2.0 billion came from services rendered by Azerbaijani residents to non-residents.
Data obtained by Trend from the Central Bank of Azerbaijan (CBA) indicates that the overall deficit in the services balance rose by 36.3 percent, amounting to $700 million. In the oil and gas sector, the services balance deficit—mainly due to construction and other business services—was $375.3 million. Meanwhile, in the non-oil and gas sector, the deficit stood at $377.5 million.
The operational dynamics within the transport services sector
constituted 26.7 percent of the aggregate mutual services revenue
stream. In the realm of transport services, which are appraised at
a substantial $1.2 billion, a significant 63.1 percent pertains to
the engagement of non-residents availing themselves of Azerbaijan’s
transport infrastructure. The aggregate valuation of transport
services rendered by Azerbaijani nationals to foreign entities
reached $788.9 million, whereas the reciprocal services acquired
from foreign nationals by Azerbaijani citizens totaled $460.6
million.
Furthermore, the outbound flow of transport services within the
non-hydrocarbon sector experienced a notable uptick of 23.3 percent
in the designated timeframe, while inbound transactions escalated
by 4.9 percent. Consequently, the excess in transportation services
escalated by 17.8 percent, culminating in a total of $328.3
million.
Concurrently, the excess in transportation services registered at
$278.7 million during the inaugural quarter of 2024.
