BAKU, Azerbaijan, March 18. Azerbaijan's foreign trade turnover from January through February 2024 increased by 0.77 percent, or $55.186 million, compared to the same period in 2023, from $7.1 billion to $7.2 billion, Trend reports.
According to the State Customs Committee of the Republic of Azerbaijan, exports accounted for $4.779 billion in the structure of foreign trade turnover, which is $259.5 million, or 5.74 percent more than the figure for the same period last year. The share of exports in the foreign trade turnover amounted to 66.14 percent, up from 63.03 percent a year earlier.
Azerbaijan's imports in the reporting period decreased year-on-year by $204.3 million, or 7.71 percent, from $2.6 billion to about $2.4 billion. The share of imports in the foreign trade turnover amounted to 33.86 percent, up from 36.97 percent a year earlier.
Consequently, the foreign trade balance, while remaining positive during the period under review, grew year-on-year by over $463.8 million, or 24.81 percent, to $2.3 billion from $1.8 billion in the reporting period of 2023.
To note, Azerbaijan's foreign trade turnover at the end of 2023 decreased by 2.85 percent, or $1.5 billion, compared to the indicator of 2022, from $52.6 billion to $51.1 billion.
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