Azerbaijan's Trade Surplus Soars Excluding Gold Imports

Azerbaijan recorded a positive foreign trade balance of $2.21 billion in January-November this year, which rises to $7.26 billion when gold imports are excluded, marking an increase of nearly 30% compared to the previous year.

Azerbaijan imported gold worth $5.04 billion over the 11-month period as part of efforts to further strengthen macroeconomic stability, with gold being a key component of strategic foreign exchange reserves, The Caspian Post reports, citing local media.

As gold imports are not linked to real consumption or economic activity, they are excluded from analyses of import dynamics and domestic demand. When gold imports are excluded, the value of total imports stood at

$16.15 billion, representing only a 0.5% increase compared to the same period last year.