Azerbaijan sees 2.8-fold decrease in its foreign trade surplus

Azerbaijan conducted trade transactions with other countries worth over $43.109 billion in the initial 11 months of 2024, down 8.9% year-on-year, Report informs, citing the country’s State Customs Committee.

During the reporting period, exports accounted for almost $24.338 billion of foreign trade turnover, and imports accounted for over $18.771 billion. Over the past year, exports fell by 22.8%, while imports rose by 18.7%.

Consequently, there was a surplus of more than $5.566 billion in Azerbaijan’s foreign trade turnover for the first eleven months of the current year, showing a 2.8-times drop compared to the corresponding period of 2023.