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CBA records growth in Azerbaijan’s foreign exchange reserves

BAKU, Azerbaijan, Azerbaijan’s strategic foreign exchange reserves increased by 12.3 percent, or $6.5 billion, from January through November 2022, and amounted to $59.8 billion, Trend reports citing the Central Bank of Azerbaijan (CBA).

 

For the first nine months of this year, a surplus of 30.7 percent of GDP was formed on the current account of the balance of payments. In the following months, positive processes continued in the external sector.

 

In general, the foreign trade balance, which is the main component of the payment balance, formed a surplus of $23.5 billion, or 2.5 times more, from January through November 2022 than in the same period of the previous year.

 

Source: TREND News Agency