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Settlements in freely convertible currency make up majority of Azerbaijan's trade turnover - State Customs Committee

Economy Materials 30 January 2023 09:21 (UTC +04:00)
Settlements in freely convertible currency make up majority of Azerbaijan's trade turnover - State Customs Committee
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, January 30. The majority of settlements in Azerbaijan's trade turnover from January through December 2022 were made in freely convertible currency, Trend reports via the State Customs Committee.

According to the committee, the settlements in freely convertible currency on export transactions increased by $5.4 billion (44.36 percent) year-on-year - from $12.3 billion to $17.7 billion (46.63 percent of all types of export settlements).

The settlements in freely convertible currency on import transactions increased by $2.7 billion (27.96 percent), exceeding $12.5 billion (86.39 percent of all types of import settlements) against $9.8 billion in 2021.

As of the beginning of January 2023, settlements in manat for Azerbaijan's export operations increased from $44.3 million to $145.1 million (by 3.27 times) year-on-year. In import operations, this indicator has decreased by 33.98 percent over the year to $36.8 million, compared with $55.8 million in 2021.

The number of other export transactions increased by $10.3 billion (2.05 times) - to $20.1 billion ($9.8 billion for the same period in 2021). The share of other export transactions amounted to 52.85 percent of all types of settlements, compared to 44.2 percent from January through December 2021.

For import operations in this category, a decline of $347.6 million (35.83 percent) was recorded – from $970.2 million to $622.5 million. The share of such transactions in all types of import settlements amounted to 4.28 percent.

Exports in Azerbaijan's foreign trade turnover from January through December 2022 amounted to $38.1 billion, and imports – $14.5 billion.

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