Azerbaijan’s foreign trade balance in the first half of 2023 witnessed a surplus of USD 6.5 bln, reflecting a substantial 50% dip compared to the USD 13.1 bln surplus in 2022. While exports experienced a significant decline, imports showed an upward trend. On a brighter note, the country reported a 21% hike in non-oil and non-natural gas exports, amounting to nearly USD 2 bln. Separately, the central bank has eased its FX transfers abroad, doubling the monthly transfer limit from USD 10k to 20k.