BAKU, Azerbaijan, July 20. Azerbaijan's import and export operations from January through May 2022 have increased, Trend reports via the World Bank's (WB) July 2022 report.
According to the report, the country's exports more than doubled compared to January through May 2021, which is related to growing export volume and energy prices.
"The prices for natural gas in Azerbaijan reached $816.6 per cubic meter in May 2022. The country's non-oil exports in the reporting month increased by 10 percent, while imports – by 26.7 percent compared to the same period of 2021. Following the results of the first five months of 2022, Azerbaijan's imports edged up by 17 percent. Meanwhile, the trade balance rose to 34.4 percent of GDP, which is more than double the figure recorded in the same period of 2021," the report said.
Money transfers from abroad to Azerbaijan grew by 3.6 times in May 2022 against the same month of 2021.