Azerbaijan spent 15% YoY less on car and spare part imports in 2024

In 2024, Azerbaijan imported vehicles and their spare parts worth $2.427 billion, Report informs, citing the State Customs Committee.

According to the committee, this is $436.176 million or 15.2% less compared to 2023.

Last year, the cost of importing cars and their parts accounted for 11.5% of Azerbaijan's total import expenses.

In 2024, Azerbaijan conducted trade operations worth $47.612 billion with other countries - 7% less compared to 2023.

Of the foreign trade turnover, $26.554 billion accounted for exports, while $21.058 billion were imports. Over the past year, exports decreased by 21.7%, while imports increased by 21.8%.

As a result, foreign trade generated a positive balance of $5.496 billion - 3 times less compared to the previous year.