BAKU, Azerbaijan, March 21. The total volume of operations between Azerbaijan and foreign countries in recurrent revenues in 2024 was valued at $1.8 billion.
Data obtained by Trend from the Central Bank of Azerbaijan indicates that inflows amounted to $1.2 billion, while payments totaled $600 million.
During the reporting period, foreign countries' money transfers accounted for 86.9 percent of total inflows, while humanitarian goods and other aid represented 11.4 percent, and other inflows made up 1.7 percent. The volume of remittances sent to Azerbaijan decreased by 34.6 percent, amounting to $1.1 billion, while remittances sent from the country fell by 4.2 percent to $500 million. As a result, a positive balance of $600 million in remittances was achieved.
Overall, the balance of operations in recurrent revenues showed a positive result of $631.7 million, marking a decrease of 40.3 percent.