Between January and July, Azerbaijan increased its gold exports 20.8-fold in value terms, teaching $3.7078 billion, and 8.5-fold in volume terms, to 24,517.2 kg.
The exports consisted of gold in unwrought and semi-wrought forms.
Specifically, this category includes ingots, bars, wire, profiles, plates, sheets, strips, and ribbons with a thickness exceeding 0.15 mm (excluding the backing), as well as unwrought gold not intended for coin minting.
The United Kingdom was the primary market, receiving 21,902 kg of gold from Azerbaijan valued at $3.4685 billion. Shipments to the UK took place for the first time in 16 years.
Exports to Switzerland totaled 2,615 kg of gold worth $239.4 million. Compared to the same period last year, the value of shipments rose by 34%, while the physical volume decreased by 9.7%.
During the reporting period, Azerbaijan imported 136.51 kg of gold worth $21.2 million. Year-on-year, the value of imports fell by 99.4%, and the volume by 99.6%.
Imports from Turkey amounted to 82.43 kg of gold valued at $13.7 million. In value terms, this figure dropped by 86.2%, and in volume terms, by 92.6%. Imports from Switzerland amounted to 54 kg valued at $7.4 million, a decrease of 96.3% and 95%, respectively. Gold weighing 0.1 kg and valued at $80,000 was purchased from the United Arab Emirates, whereas no shipments had been made from that country the previous year. (Report)