Foreign trade surplus reaches $5.27 bn for Jan-Nov 2024

15:53 - 16.01.2025


January 16, Fineko/abc.az. Over Jan-Nov 2024, Azerbaijan's foreign trade turnover amounted to $42.8 bn, taking into account the statistically estimated value of exported crude oil and natural gas, which were registered with customs authorities but whose customs clearance was not fully completed.

ABC.AZ reports with reference to the State Statistics Committee that exports from the country accounted for $24.4 bn, or 56.2% of trade turnover, and imports - $18.77 bn (43.8%).

As a result, positive balance of $5.27 bn was formed in the foreign trade balance of Azerbaijan.

As of November 1, 2024, this figure was $5.139 bn.

Country's trade surplus with foreign countries is one of the main factors in strengthening or maintaining the strength of the country's currency. Trade with the outside world is a major component of the current account balance.

When exports exceed imports, more currency enters the country, which ensures the stability of the manat.

Compared with Jan-Nov 2023, foreign trade turnover grew by 1.1% in actual prices, by 3.1% in real terms, including decline on exports by 5.4% and a rise on imports by 0.6%.