AI will summarize what happened, why it matters and what it means for business.
In January-July of this year, Azerbaijan conducted trade operations with foreign countries totaling $29 billion 216 million. This was reported by the State Customs Committee.
This is $374 million, or 1.3%, more compared to the same period last year.
During the reported period, exports accounted for $19 billion 336 million of the foreign trade turnover, while imports accounted for $9 billion 881 million. Thus, over the past year, exports increased by $3 billion 442 million, or 26.7%, while imports decreased by $3 billion 181 million, or 27.6%.
As a result, a positive trade balance of $9 billion 455 million was formed, which is $7 billion 843 million, or 5.9 times, more year-on-year.
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The essentials in one minute
BeforeJanuary July 2024
Positive trade balance reached $9.5 billion, 5.9 times higher than a year earlier
Now
Azerbaijan published foreign trade data for January July 2024: turnover reached $29.2 billion, up 1.3% year on year.
Next
The trend of rising exports and falling imports may continue, impacting currency inflows and economic stability.