BAKU, Azerbaijan, December 15. The services
balance, a key component of Azerbaijan’s balance of payments,
remains in deficit but has dropped by 13% compared to the first
nine months of last year, said Samir Nasirov, Director of the
Statistics Department of the Central Bank of Azerbaijan (CBA),
Trend
reports.
Speaking at a briefing on the balance of payments, Nasirov
pointed out that the key factors behind the deficit are tied up
with the oil and gas sector.
“Construction and other business services provided in the oil
and gas sector are the primary contributors to the services balance
deficit.
However, for some time now, transport and tourism services have
shown a surplus in the balance of payments. In the first nine
months of the year, the net surplus of transport services reached
$1.3 billion, representing a 50% increase compared to the same
period last year. The surplus in transport services mainly reflects
revenues from oil and gas exports, as well as passenger and freight
transport expenses.
Tourism services, meanwhile, recorded a net surplus of $320
million during the same period. This increase is primarily driven
by foreign visitors, with over 1.94 million tourists visiting the
country,” Nasirov added.
In terms of the construction sector's contribution to
Azerbaijan's GDP, it represented roughly 6.8% of the nation's total
Gross Domestic Product as of October 2025. This marks a marginal
uptick from 6.7% recorded in April 2025 and a rise from 6.3% noted
in October 2024.
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