Azerbaijan’s customs revenues surpass forecast due to increase in imports in 2022

Economy Materials 24 May 2023 12:34 (UTC +04:00)

BAKU, Azerbaijan, May 24. The state budget revenues through the customs authorities amounted to 5.65 billion manat ($3.3 billion) in 2022, which is 1.04 billion manat ($610 million), or 22.8 percent more than the forecasted figure of 4.6 billion manat ($2.7 billion), and 1.3 billion manat ($760 million), or 30.2 percent more than in 2021, Trend reports.

This issue is reflected in the "Annual report on the execution of the state budget of the Republic of Azerbaijan for 2022".

The revenues via the customs authorities in the reporting period exceeded the forecast mainly due to an increase in imports by $2.8 billion, or by 24.2 percent compared to the previous year (including in the non-oil sector by $3.1 billion, or 28.5 percent).