Import and Export Operations Increased 4.3%
In January and February of this year, foreign trade turnover was $ 5.6 billion, which is 4.3% more than last year. Trade surplus was about $ 2750 million
According to the State Customs Committee, in January-February this year, Azerbaijan exported goods totaling $ 4 183.8 million is 3.3% more than in the same period of 2012. The share of the EU accounts for 45% of exports ($ 1.9 billion). The share of public sector in the portfolio of exports is 95.3% (approximately $ 4 billion).
For the period indicated, the country was supplied goods to a total of $ 1,433 million is 7.5% more than in January-February 2012. Imports from EU countries amounted to $ 400 million or 28% of imports. The public sector accounts for 31% of imports. The lion's share of exports (93.6%) is energy.
This year Azerbaijan has trade relations with 113 countries of the world. Exported 769 were items of goods and imported - 3 955. Import-export business employs 2.7 thousand businesses. About 2 thousand of them are legal persons, of which 153 belong to the public sector. - 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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