Money transactions from Türkiye to Azerbaijan soar in 1Q2024

Money transactions worth $39.9 million were made from Türkiye to Azerbaijan in the first quarter of 2024, marking a 22.3-percent increase year-on-year, Report informs, citing the Central Bank of Azerbaijan (CBA).

Over the past year, the share of remittances received from Türkiye in Azerbaijan’s total remittances rose from 7.2 percent to 13.6 percent.

Furthermore, money transactions worth $38.6 million were made from Azerbaijan to Türkiye in January-March of 2024, which is 13.1 percent more than a year ago.

During the reporting period, the share of remittances from Azerbaijan in Türkiye’s total remittances grew from 25.8 percent to 29.4 percent.