Azerbaijan posts 2.4-fold decline in surplus in its foreign trade

Azerbaijan conducted trade transactions with foreign countries worth $30.995 billion in the initial eight months of 2024, down 12.7% year-on-year, Report informs, citing the country’s State Customs Committee.

During the reporting period, exports accounted for $18.232 billion of foreign trade turnover, and imports accounted for $12.764 billion. Over the past year, exports fell by 25.1%, while imports rose by 14.5%.

Consequently, there was a surplus of $5.468 billion in Azerbaijan’s foreign trade turnover for the first eight months of the current year, showing a 2.4-times drop from the corresponding period of 2023.