BAKU, Azerbaijan, June 14
By Zeyni Jafarov - Trend:
The total cost of transactions between Azerbaijan and foreign countries on reinvested (secondary) income amounted to $397.7 million in the first quarter of 2021, Trend reports citing a report of the Central Bank of Azerbaijan (CBA).
As reported, receipts amounted to $247.4 million, and payments - $150.3 million.
In the balance of secondary income, about 91.6 percent are remittances of individuals from abroad, 7.3 percent are the cost of humanitarian goods imported into the country, and the remaining 1.1 percent are other receipts.
"At the same time, remittances to Azerbaijan increased by 20.6 percent on annual basis, amounting to $226.6 million. However, remittances from the country to overseas declined year-on-year by 0.3 percent and stood at $121.9 million," the report said.
Accordingly, the positive balance on remittances for the reporting period amounted to $104.7 million, which indicates an annual increase of 59.6 percent.
The balance of transactions on secondary income remained positive, totaling $97.1 million, an increase of 1.7 times on an annual basis.
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