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Azerbaijan - Russia trade turnover increases by 5.7% in first 8 months of 2024

According to the State Customs Committee, Russia is the third trade partner of Azerbaijan in January-August after Italy and Turkey

BAKU, September 18. /TASS/. Trade turnover between Azerbaijan and Russia in January - August 2024 amounted to $2.947 bln, the State Customs Committee of Azerbaijan reported.

In January - August 2023, the trade turnover between the two countries amounted to $2.787 bln. In comparison with the same period of the previous year, it has increased by 5.7%.

According to the Committee, in the first eight months the export of Azerbaijani products to Russia amounted to $767.439 mln, which is a decrease of 3.4%, while the import of goods from Russia amounted to $2.179 bln (an increase of 9.4%).

According to the State Customs Committee, Russia is the third trade partner of Azerbaijan in January-August after Italy and Turkey. Trade turnover with Russia in this period accounted for 9.51% of the country’s foreign trade turnover.

In 2023, the trade turnover between Azerbaijan and Russia increased by 17.5% compared to the previous year and reached $4.358 bln. The share of trade transactions with Russia last year amounted to 8.52% of the total foreign trade turnover of Azerbaijan.

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