BAKU, Azerbaijan, Sept.15
By Zeyni Jafarov - Trend:
The total cost of transactions between Azerbaijan and foreign countries on reinvested (secondary) incomes in the first half of 2021 increased, Trend reports citing a report of the Central Bank of Azerbaijan (CBA).
According to the CBA, this figure amounted to $844 million, which is $169 million or 25 percent more than from January through June of 2020 ($675 million).
As reported, receipts amounted to $531.2 million, and payments - $312.8 million, up by 29.5 percent and 18 percent, respectively, on annual basis.
In the balance of secondary incomes, about 92.5 percent are remittances of individuals from abroad, 6.2 percent are the cost of humanitarian goods imported into the country, and the remaining 1.3 percent - other receipts.
Remittances to Azerbaijan in the first half of this year increased by $119 million or 32 percent on annual basis, amounting to $491.4 million compared to $372.4 million for the same period of 2020. Meanwhile, remittances from the country to overseas rose year-on-year by $35 million (16 percent) and stood at $256 million against $221.3 million a year earlier.
Accordingly, the positive balance on remittances for the reporting period reached $235.3 million, which indicates an annual increase of $84 million or 56 percent.
The balance of transactions on secondary incomes mainly remained positive, totaling $218.4 million, which is an increase of 1.5 times compared to the first half of 2020 ($145.5 million), added the report.
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