BAKU, Azerbaijan, March 19. Azerbaijan reduced imports of tobacco and tobacco products by 4.9 percent from January through February 2024 compared to the same period last year, to $16.9 million, Trend reports.
The State Customs Committee of Azerbaijan reports that during the reporting period of the previous year, tobacco and tobacco products were imported to the tune of $17.8 million.
The share of imports of tobacco and tobacco products in the reporting period of 2024 amounted to 0.69 percent of Azerbaijan's total imports.
Meanwhile, Azerbaijan increased imports of tobacco and tobacco products in 2023 by 23.54 percent compared to the same period last year, up to $119.9 million.
To note, Azerbaijan's foreign trade turnover from January through February 2024 increased by 0.77 percent, or $55.1 million, compared to the same period in 2023, from $7.1 billion to $7.2 billion.
Exports accounted for $4.7 billion in the structure of foreign trade turnover, which is $259.5 million, or 5.74 percent more than in 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 2023 review period.
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