Foreign trade turnover increased by 1.7%
In January of this year, the foreign trade turnover of Azerbaijan, which was carried out with 195 countries of the world amounted to $ 2 550.2 million, which is 1.76% higher than a year earlier. Trade surplus was about $ 1.2 billion.
According to the State Customs Committee, in January of this year, Azerbaijan exported goods totaling $ 1 922.7 million is 4% more than in the same period of 2012. More than half of exports accounted for by the EU (over $ 1 billion). The share of public sector in the export portfolio is 95% ($ 1,826 million).
For the period indicated, the country was supplied goods totaling $ 627 million is 4.5% less than in January 2012. Imports from EU countries amounted to $ 218 million, or 34.7% of imports. The public sector accounts for 28.8% of imports. The lion's share of exports - is energy. - 08D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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