15:49 - 27.05.2025

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May 27, Fineko/abc.az. In 2024, Azerbaijan’s State Budget revenues from customs duties amounted to 1.79 billion manats, with forecast of 1.757 billion manats, which is 33.7 million manats (1.9%) more. Compared with 2023, growth reached 163.6 million manats, or 10.1%.

ABC.AZ informs with reference to the Bill on Execution of State Budget 2024 that the main reason for over-fulfillment of the forecast for VAT on imports is linked with the fact that the actual volume of imports exceeded the figures provided for in macroeconomic forecasts. Thus, with expected import volume of $17.222 billion, the actual imports totaled $21.58 billion, which is $3.835 billion (22.3%) more. If we do not take into account the import of gold by the State Oil Fund, the excess amounted to $522.4 million, or 3%.

In addition, an increase in imports of goods subject to customs duties by $217 million or 2.9% compared to 2023 resulted in additional revenue from customs duties, mainly on imports of hybrid vehicles in the amount of $255.9 million and mobile devices in the amount of $105.5 million.