The trade turnover between Azerbaijan and Russia reached $2.787 billion in January-August 2023, marking a 26.8% increase compared to the same period in 2022. This information was reported by the State Customs Committee of Azerbaijan (SCC).
During the period of January to August, Azerbaijani exports to Russia totaled nearly $794.5 million, indicating a 46.1% increase compared to the same period in 2022. Meanwhile, imports of goods from Russia to Azerbaijan amounted to $1.992 billion, reflecting a 20.5% increase, according to the agency's data.
According to the SCC, Russia held the third position among Azerbaijan's trade partners at the end of the eight-month period, following Italy and Turkey. Notably, Russia led as the primary source of imports into Azerbaijan. Trade activities with Russia constituted 7.85% of the country's total foreign trade turnover during this timeframe.
In 2022, trade turnover between Azerbaijan and Russia witnessed a significant rise, marking a 23.9% increase compared to the previous year, totaling $3.71 billion. This substantial trade contributed to 7.04% of Azerbaijan's overall foreign trade turnover for that year.
GSV "Russia - Islamic World"
Photo: Federation Council
Based on materials from TASS