BAKU, Azerbaijan, September 18. The export value of Azerbaijan's pharmaceutical products amounted to $14.2 million from January through August 2023, Trend reports.
The data from the State Customs Committee of Azerbaijan shows that this is 7.47 times more year-on-year.
Azerbaijan imported pharmaceutical products worth $401.4 million from January through August 2023.
It should be noted that imports of pharmaceutical products amounted to 3.6 percent of Azerbaijan's total imports, while exports amounted to 0.06 percent of total exports.
Also, Azerbaijan's foreign trade turnover grew by 1.12 percent, or $392.1 million, from January through August 2023 year-on-year, from $35.1 billion to $35.5 billion.
The data of the State Customs Committee of Azerbaijan shows that exports accounted for $24.3 billion in the structure of foreign trade turnover, which is $1.8 billion or 7.2 percent less year-on-year. The share of exports in the foreign trade turnover amounted to 68.59 percent, up from 74.74 percent a year earlier.
Azerbaijan's imports in the reporting period increased by $2.2 billion, or 25.73 percent, year-on-year from $8.8 billion to about $11.1 billion. The share of imports in the foreign trade turnover amounted to 31.41 percent, up from 25.26 percent a year earlier.
As a result, in the reporting period, the balance of foreign trade turnover, while remaining positive, decreased year-on-year by more than $4.1 billion, or 24.01 percent, to $13.2 billion against $17.3 billion in the reporting period of 2022.
Azerbaijan imported $401.4 million worth of pharmaceutical products from January through August 2023.