BAKU, Azerbaijan, April 17. Azerbaijan's foreign trade turnover decreased by 17.63 percent, or $2.07 billion, for January through March 2024 in comparison with the indicator for the same period in 2023, from $11.77 billion to $9.7 billion, Trend reports.
Data from the State Customs Committee of Azerbaijan shows that exports accounted for $5.98 billion in the structure of foreign trade turnover, which is $1.75 billion, or 22.7 percent less than the figure for the same period last year. The share of exports in the foreign trade turnover amounted to 61.72 percent, up from 65.77 percent a year earlier.
Azerbaijan's imports in the reporting period decreased year-on-year by $318.2 million, or 7.9 percent, from $4.03 billion to about $3.7 billion. The share of imports in the foreign trade turnover amounted to 38.28 percent, up from 34.23 percent a year earlier.
As a result, the balance of foreign trade turnover, while remaining positive in the period under review, declined year-on-year by over $1.4 billion, or 38.77 percent, to $2.27 billion against $3.7 billion in the reporting period of 2023.
Azerbaijan's foreign trade turnover in 2023 decreased by 2.85 percent, or $1.5 billion, compared to 2022, from $52.68 billion to $51.18 billion.