BAKU, Azerbaijan, March 19. The value of Azerbaijan's pharmaceutical exports amounted to $1.6 million from January through February 2024, Trend reports.
According to data from Azerbaijan's State Customs Committee,
this is 85.9 percent less than the same period last year.
Azerbaijan imported 5,263 tons of pharmaceutical products (11.9
percent decline) worth $79.2 million (46.53 percent reduction)
during the 2024 reporting period. Meanwhile, pharmaceutical
products accounted for 3.24 percent of Azerbaijan's total imports,
with exports accounting for 0.03 percent of overall exports.
However, Azerbaijan's foreign trade turnover climbed by 0.77
percent, or $55.1 million, between January and February 2024,
rising from $7.1 billion to $7.2 billion.
Exports accounted for $4.7 billion in the structure of foreign trade turnover, which is $259.5 million, or 5.74 percent more than in the same period last year. The share of exports in the foreign trade turnover amounted to 66.14 percent, up from 63.03 percent a year earlier.
Azerbaijan's imports in the reporting period decreased year-on-year by $204.3 million, or 7.71 percent, from $2.6 billion to about $2.4 billion. The share of imports in the foreign trade turnover amounted to 33.86 percent, up from 36.97 percent a year earlier.
Consequently, the foreign trade balance, while remaining positive during the period under review, grew year-on-year by over $463.8 million, or 24.81 percent, to $2.3 billion from $1.8 billion in the reporting period of 2023.
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