BAKU, Azerbaijan, January 19. Azerbaijan's foreign trade turnover decreased by 2.85 percent ($1.5 billion) in 2023 year-on-year, from $52.68 billion to $51 billion, Trend reports via the country's State Customs Committee.
The committee's data showed that exports accounted for $33.8 billion in the structure of foreign trade turnover, which is $4.2 billion, or 11.14 percent less year-on-year. The share of exports in the foreign trade turnover amounted to 66.2 percent, up from 72.4 percent a year earlier.
Azerbaijan's imports grew by $2.7 billion (18.8 percent) in 2023, year-on-year, from $14.5 billion to about $17.2 billion. The share of imports in the foreign trade turnover amounted to 33.7 percent, up from 27.6 percent a year earlier.
As a result, the balance of foreign trade turnover, while remaining positive, declined by over $6.9 billion, or 29.6 percent in 2023, to $16.6 billion from $23.6 billion year-on-year.