Azerbaijan’s foreign exchange reserves increase

Foreign exchange reserves of the Central Bank of Azerbaijan (CBA) totalled over $9.1 billion as of July 1, 2023, reports.

According to the CBA’s data, this is 0.22 percent ($20.2 million) more compared to the previous month and 24.74 percent higher in comparison with the same period in 2022.

As of July 1, 2022, the CBA's foreign exchange reserves amounted to $7.3 billion, while as of June 1, 2023 - $9.1 billion.

Meanwhile, the CBA's foreign exchange reserves amounted to $9 billion in 2022, which was $1.9 billion (27 percent) more than in 2021.

In addition, last year, Azerbaijan's total GDP increased by 4.6 percent to 133.8 billion manat ($78.7 billion) compared to the preceding year, and non-oil GDP - by 9.1 percent, making up 69.8 billion manat ($41 billion).

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