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Freely convertible currency makes up majority of Azerbaijan's trade turnover - SCC

Finance Materials 19 September 2022 09:50
Baku, Azerbaijan Trend News Agency
Freely convertible currency makes up majority of Azerbaijan's trade turnover - SCC

The majority of the settlements in Azerbaijan's trade turnover were made in freely convertible currency from January through August 2022, Trend reports via the State Customs Committee (SCC) of Azerbaijan.

The settlements in freely convertible currency for export operations increased by $4.9 billion, or 66.57 percent, year-on-year - from $7.4 billion to $12.3 billion (46.97 percent of all types of export settlements).

The settlements in freely convertible currency on import operations increased by $1.5 billion (25.57 percent), exceeding $7.7 billion (86.91 percent of all types of import settlements) against $6.1 billion the previous year.

As of the beginning of September, settlements in Azerbaijani manat for Azerbaijan's export operations increased from $10 million to $58.2 million (by 5. 79 times) year-on-year. In import operations, this indicator has increased by 11.24 percent over the year, reaching $35.7 million against $32.1 million.

The amount of other export transactions increased by $8.3 billion, or 2.5 times - to $13.8 billion ($5.5 billion for the same period last year). The share of other export transactions amounted to 52.7 percent of all types of settlements against 42.61 percent from January through August 2021. For import operations in this category, a decline of $255.2 million, or 39.26 percent, was recorded – from $6.5 billion to $394.8 million. The share of such transactions in all types of import settlements amounted to 4.45 percent.

Exports in Azerbaijan's foreign trade turnover from January through August 2022 amounted to $26.2 billion, and imports – were $8.6 billion.

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