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Azerbaijan sees drop in bank card payments made by foreigners

Economy Materials 1 June 2023 09:41 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, June 1. Payments by foreigners via bank cards have decreased in Azerbaijan from January through April 2023, Trend reports.

The volume of card transactions of foreign citizens in Azerbaijan decreased by 1.22 percent or 8.4 million manat ($4.9 million) to 677.9 million manat or $398.7 million (686.3 million manat or $403.7 million in the same period last year) from January through April 2023 compared to the same period of the previous year.

According to the Center for Analysis of Economic Reforms and Communication of Azerbaijan, foreign citizens in Azerbaijan made transactions in the amount of 126 million manat via bank cards, a decrease of 7.76 percent (10.6 million manat or $6.2 million) in April 2023, in January - 171.5 million manat ($100.8 million), in February - 162.3 million manat ($95.4 million), in March - 218.1 million manat ($128.2).

Foreign citizens in Azerbaijan made transactions in the amount of 2.2 billion manat ($1.2 billion) using bank cards by the end of 2022.

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