Foreign trade turnover decreased by 11.7%
For five months of this year, foreign trade turnover amounted to about $ 13 billion, which is 11.7% less than in the comparable period of 2013. In value terms, the reduction in imports and exports nearly the same - about $ 850 million
According to the State Customs Committee (SCC), the volume of exports from the country ($ 9,480 million) decreased by 8.6%.
Crude oil exports ($ 8.2 billion) decreased by 4.8%, petroleum products ($ 415 million) - 25.1%, natural gas (189.3 million) - 45.2%. However, the hydrocarbon feedstock and its products ($ 8.8 billion) dominate in the export structure of the country - 93%.
The volume of imports of goods amounted to $ 3.5 billion, a decline of 19.5%. The volume of imports decreased mainly due to the public sector. If in January-May 2013 SOEs imported goods valued at $ 1418 million, this year the figure fell to $ 956 million.
Since the beginning of the year the share of EU countries accounts for about $ 1 billion, 84 million (30.8%) of imports and 4,950 million (52.2%) of exports. Foreign trade surplus amounted to $ 5969 million
According to independent studies on the principle of "mirror statistics" of a number of countries with active trade relations with Azerbaijan, part of imports of goods hidden or declared at low prices with the aim of granting customs structure of budgetary funds. We are talking about several hundred million U.S. dollars. - 08D-
Economics
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Azerbaijan’s gross domestic product (GDP) reached 126.3 billion manats in 2024, marking an increase of 3 billion manats, or 2.4%, compared to the previous year, according to data released by the State Statistics Committee. In 2023, nominal GDP stood at 123 billion manats.
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The latest data from the State Statistics Committee reveals that as of December 1, 2024, the total number of salaried workers in Azerbaijan stood at 1.775 million, with 884,400 employed in the public sector and 890,900 in the private sector. This figure falls significantly short of the government's ambitious targets set seven years ago, raising concerns about employment opportunities, particularly for the country's burgeoning youth population.
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Azerbaijan's legal and physical entities engaged in trade operations with partners from 176 countries between January and November 2024, exporting goods to 120 nations and importing from 167, according to the State Customs Committee.
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Azerbaijan's retail trade turnover climbed 3.9% in real terms in 2024 compared to the previous year, reaching a total of 62.2 billion manats, the State Statistics Committee revealed. Food, beverages, and tobacco accounted for 34.1 billion manats, while non-food products contributed 28.1 billion manats to the total.
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