Imports in Azerbaijan

Azerbaijan Imports | Economic News & Forecasts

Azerbaijan - Imports

The economy seemed to contract sharply in the second quarter after annual GDP growth halved to 1.1% in the first quarter. Economic activity shrank 1.7% year-on-year in January–May period, as lockdown measures implemented to contain Covid-19 dented retail spending, while investment activity plunged amid the uncertain economic backdrop. In the external arena, the picture was similarly bleak in the quarter as depressed global oil prices and capped domestic production hit exports in April–May. A rebound in oil prices in June offered some relief for the all-important energy sector at the end Q2, although the panorama remains grim at the outset of the third quarter. In mid-June, the government extended lockdown measures across most of the country until 1 August, with many non-essential businesses set to shut again after being reopened in May.

Azerbaijan - Imports Data

2015   2016   2017   2018   2019  
Imports (USD billion)9.8  9.0  9.0  11.0  11.3  

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Note: Imports in USD bn.
Source: National Bank of Azerbaijan

Azerbaijan Facts

Value Change Date
Exchange Rate1.70-0.66 %Jan 01
Stock Market0.10.0 %Jan 07

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