BAKU, Azerbaijan, Azerbaijan’s foreign trade turnover notably grew in 2022, the State Customs Committee told Trend.

According to the committee, this figure totaled $52.6 billion, up by $18.7 billion (55.36 percent) on annual basis.

Out of the total value, $38.1 billion accounted for exports, which is $15.94 billion (71.8 percent) more than in 2021. The share of exports in the foreign trade turnover made up 72.4 percent against 65.48 percent a year earlier.

Azerbaijan’s import last year increased by $2.8 billion (24.21 percent) from $11.7 billion to $14.54 billion compared to 2021. The share of imports in foreign trade turnover amounted to 27.6 percent against 34.52 percent a year earlier.

As a result, the balance of foreign trade turnover, remaining positive, grew over the year by more than $13.1 billion (2.2 times) to $23.6 billion against $10.5 billion in 2021.

Azerbaijan’s foreign trade turnover in 2021 amounted to $33.9 billion, up by $9.4 billion (38.5 percent) compared to 2020 ($24.4 billion). A total of $22.2 billion accounted for export, which was $8.4 billion (61.6 percent) more than in 2020.

The share of export in foreign trade turnover in 2021 reached 65.48 percent compared to 56.15 percent a year earlier.

Azerbaijan’s import volume increased on annual basis by $975 million or over nine percent from $10.73 billion to $11.7 billion in 2021. The share of import in foreign trade turnover reached 34.52 percent compared to 43.85 percent in 2020.

As a result, while remaining positive, the foreign trade balance increased on annual basis by nearly $7.5 billion or almost 2.5 times to over $10.5 billion in 2021 compared to $3 billion in 2020.

Source: TREND News Agency