Trade turnover between Azerbaijan, Kyrgyzstan hikes
The trade turnover between Azerbaijan and Kyrgyzstan totaled $6.03 million or 0.37 percent of Azerbaijan's total turnover with the CIS [Commonwealth of Independent States] countries from January through March 2023, Azernews reports citing Trende.
According to the committee, trade turnover between Azerbaijan and Kyrgyzstan increased by 3.65 times from January through March 2023 compared to the same period in 2022 ($1.6 million).
Kyrgyzstan's share in the total turnover of Azerbaijan equaled 0.05 percent in the reporting period.
Furthermore, the Kyrgyz imports from Azerbaijan totaled $4.2 million from January through March 2023, which is 8.61 times more than in the same period of the previous year ($491,720).
In addition, exports to Azerbaijan from Kyrgyzstan in the reporting period accounted for $1.79 million which is 55.32 percent higher than in the same period in 2022 ($1.15 million).
Overall, Azerbaijan's foreign trade turnover increased by $863.1 million (7.91 percent) from January through March 2023 compared to the same period of the previous year, from $10.9 billion to $11.7 billion.
According to the committee, out of the total foreign trade turnover, exports accounted for $7.7 billion, which is $239.59 million (three percent) less than in the same period last year. The share of exports in foreign trade turnover totaled 65.77 percent against 73.17 percent a year earlier.
Azerbaijan's imports in the first quarter of this year increased by $1.1 billion (37.67 percent), from $2.9 billion to about $4 billion. The share of imports in foreign trade turnover amounted to 34.23 percent against 26.83 percent a year earlier.
As a result, in the reporting period, the balance of foreign trade turnover, remaining positive, decreased by more than $1.3 billion (26.56 percent) on an annual basis, to $3.7 billion against $5 billion in the same period of the previous year.
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