Azerbaijan records 3-fold decline in its foreign trade surplus

In 2024, Azerbaijan conducted trade transactions with other countries worth just over $47.612 billion, 7% less year-on-year, Report informs, referring to the country’s State Customs Committee.

Last year, exports accounted for just over $26.554 billion of foreign trade turnover, while imports accounted for $21.058 billion. Over the past year, exports decreased by 21.7%, while imports grew by 21.8%.

Consequently, there was a surplus of more than $5.496 billion in Azerbaijan’s foreign trade turnover for 2024, representing a 3-fold drop compared to 2023.