BAKU, Azerbaijan, April 1. The volume of remittances by individuals from Azerbaijan to China amounted to $11.8 million in 2024.
Data obtained by Trend from the Central Bank of Azerbaijan indicates
that this metric experienced a substantial increase of $3.6
million, reflecting a remarkable growth rate of 44.3 percent in
comparison to the previous fiscal year of 2023.
The People's Republic of China constituted a mere 2.2 percent of
the aggregate remittance flows originating from Azerbaijan during
the specified reporting period.
The aggregate monetary transfers from individuals residing in
Azerbaijan to the People's Republic of China amounted to a
substantial $8.2 million in the fiscal year 2023.
In aggregate, the cumulative remittance outflows from Azerbaijan to
international jurisdictions reached $526.8 million in the fiscal
year 2024, indicating a contraction of 4.2 percent relative to the
preceding year, translating to a decrement of $23.4 million.
In the interim, the aggregate quantum of remittances accrued by
Azerbaijan from external sources during the fiscal year amounted to
$1.08 billion, reflecting a substantial contraction of 34.6
percent, equating to a decrement of $571.9 million relative to the
preceding year of 2023.
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