Minister: "Azerbaijan's aggregate currency reserves increased by 13.3 percent in 11 months"

# 22:10
10 January 2018

"2017 was remarkable also in the context of the work done and achievements under the leadership of President Ilham Aliyev in the direction of creating favorable conditions for the macroeconomic stability and financial sustainability, neutralization of external shocks on the country's economy, elimination of negative consequences and recovery of economic growth,” said Finance Minister Samir Sharifov at a meeting of the Cabinet of Ministers dedicated to the results of socioeconomic development of 2017 and objectives.


According to the operative statistical data, in the first 11 months of 2017, the foreign trade turnover increased by 12% reaching 21.8 billion USD while commodity exports increased by 19% to $ 14 billion USD compared with the same period of the last year.


"It should be noted that non-oil exports increased by 24 percent as a satisfying factor. As a whole, trade surplus exceeded $ 6 billion and the state's total foreign exchange reserves increased by $ 4.5 billion or 13.3 percent compared to the beginning of the year," Sharifov said.