BAKU, Azerbaijan, December 28. Azerbaijan's strategic foreign exchange reserves grew by 16.6 percent to reach $68.2 billion from January through November this year, Trend reports, referring to the Azerbaijan Central Bank's (CBA) statement on the main directions of monetary policy for 2024.
The foreign trade balance, which is the main component of the balance of payments, was in surplus in 2023.
"In the first 11 months of the year, the foreign trade balance posted a surplus of $15.7 billion. The current account surplus for the first nine months of 2023 was at the level of $6.7 billion, or 12.5 percent of gross domestic product (GDP)," the CBA states.
During the same period last year, Azerbaijan's strategic foreign exchange reserves amounted to $59.8 billion.
According to the State Statistical Committee, Azerbaijan's GDP grew by 0.8 percent from January through November 2023 compared to the same period in 2022 - up to 110.2 billion manat.