Azerbaijan sees surge in wheat imports for 1Q2023

Economy Materials 24 April 2023 12:42 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, April 24. Azerbaijan imported 356,140 tons of wheat from January through March 2023, which is 94.76 percent, or 173,280 tons more than in 2022, Trend reports with reference to the data of the State Customs Committee of Azerbaijan (SCC).

According to the SCC, in value terms, wheat imports exceeded $108.7 million with an increase of 74.32 percent over the year.

The share of wheat imports in the reporting period amounted to 2.7 percent of Azerbaijan's total imports.

Moreover, Azerbaijani food imports, in accounting period, increased in value terms by 18.95 percent, or $92.8 million - to $583 million.

The country's foreign trade turnover in the specified period grew by 7.91 percent, or $863.1 million compared to the same reporting months of 2022, increasing from $10.9 billion to $11.7 billion.

According to the data, in the structure of foreign trade turnover, exports accounted for $7.7 billion, which is $239.5 million, or 3 percent less than the same period last year. Meanwhile, the share of exports in foreign trade turnover amounted to 65.77 percent against 73.17 percent a year earlier.

Azerbaijan's imports from January through March of the current year increased by $1.1 billion, or 37.67 percent, growing from $2.9 billion to about $4 billion. At the same time, the share of imports in foreign trade turnover totaled 34.23 percent against 26.83 percent a year earlier.

As a result, during the reporting period, the balance of foreign trade turnover, remaining positive, decreased year-on-year by more than $1.3 billion, or by 26.56 percent - to $3.7 billion against $5 billion in the first three months of 2022.