BAKU, Azerbaijan, August 16. The foreign trade turnover of Azerbaijan from January through July 2024 decreased by 11.34 percent, or $3.4 billion, compared to the same period in 2023 (from $30.3 billion to $26.8 billion), Trend reports.
The Republic of Azerbaijan's State Customs Committee reports that exports contributed $16 billion to the balance of foreign trade turnover, down $4.6 billion, or 22.52 percent, from the same period last year. Up from 68.5 percent a year ago, exports accounted for 59.86 percent of the foreign trade turnover.
Azerbaijan's imports in the reporting period increased by $1.2 billion, or 12.94 percent, year-on-year from $9.5 billion to about $10.7 billion. The share of imports in the foreign trade turnover amounted to 40.14 percent, up from 31.5 percent a year ago.
Consequently, the balance of foreign trade turnover, while remaining positive during the review period, declined year-on-year by over $5.9 billion, or 52.71 percent, to $5.3 billion against $11.2 billion in the 2023 reporting period.
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.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel
