BAKU, Azerbaijan, September 16. In comparison to the same time in 2023 (when it was $35.5 billion to $30.9 billion), Azerbaijan's foreign trade turnover from January to August 2024 fell by 12.7 percent, or $4.5 billion.
The data obtained by Trend from the country's State Customs Committee shows that exports accounted for $18.2 billion in the structure of foreign trade turnover, which is $6.1 billion, or 25.14 percent less than the figure for the same period last year. The share of exports in the foreign trade turnover amounted to 58.82 percent against 68.59 percent a year earlier.
Azerbaijan's imports in the reporting period increased by $1.6 billion, or 14.47 percent, year-on-year from $11.1 billion to about $12.7 billion. The share of imports in the foreign trade turnover amounted to 41.18 percent against 31.41 percent a year earlier.
Consequently, the balance of foreign trade turnover, while remaining positive during the period under review, declined year-on-year by over $7.7 billion, or 58.59 percent, to $5.4 billion from $13.2 billion in the 2023 review 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.