Trade turnover with Russia exceeds $2bn

16 November 2019 10:05 (UTC+04:00)

By Rasana Gasimova

Azerbaijan's trade turnover with Russia amounted to $2 billion 440 million 455,570 In January-October 2019, which is 22.5 percent more than that of the first 10 months of 2018, Azerbaijan’s State Customs Committee said in a message.

The trade turnover between Azerbaijan and Russia amounted to $2.55 billion in 2018.

Last year, the share of trade operations with Russia accounted for 8.25 percent of the total foreign trade turnover.

The share of trade operations with Russia accounted for 8.63 percent of Azerbaijan’s total foreign trade turnover for the first 10 months of 2019.

During the reporting period, the volume of export of Azerbaijani products to the Russian Federation amounted to $570 million 78,770 (an 11.8 percent increase). In general, deliveries to Russia accounted for 3.39 percent of total Azerbaijani exports in January-October 2019.

Imports of Russian products to Azerbaijan amounted to $ 1 billion 807 million 376,800 (a 21.9 increase). The share of supplies from Russia accounted for 16.33 percent in the total volume of imports of goods to Azerbaijan.

Thus, according to the State Customs Committee, the negative balance of Azerbaijan in trade relations with Russia amounted to $ 1 billion 300 million 298,030 in January-October 2019.

In 2018, Russia’s exports to Azerbaijan were mainly food products and agricultural raw materials ($422.1 million), machinery, equipment and vehicles ($381.6 million), metals and products made of metal ($315.9 million), wood and pulp-paper products ($238.1 million) as well as chemical products and rubber ($198 million).

Azerbaijan is one of the main economic partners of Russia among the CIS countries. Interregional cooperation plays an important role in the development of Russian-Azerbaijani trade and economic relations and the increase in trade turnover.

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