For the nine months of this year, Azerbaijan had foreign trade relations with 149 countries of the world for a total of $ 24.5 billion, which is at 7.67% less than in the comparable period of 2011.
According to the published data of the State Customs Committee, in January-September this year, Azerbaijan exported goods amounting to $ 17,791 million, which is 9.9% less than the same period last year. The total declared value of imported goods amounted to over U.S. $ 6,674 million, or 1.2% less than in the same period of 2011.
The positive balance of trade of the country for the period indicated to over $ 11 billion.
The share of oil and gas in the country's export portfolio was 93.5% ($ 16.6 billion).
State share in the import-export transactions prevails over the share of private business. The share of public sector in exports is 94.6%, while imports - 20.4%. - 08D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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