Russia increases trade turnover with Azerbaijan

Trade turnover between Russia and Azerbaijan amounted to $3.499 bln in January-September 2024, the State Customs Committee of Azerbaijan reported.

In January-September 2023, trade turnover between the two countries totaled $3.134 bln, which brings year-on-year growth to 11.6%.

Exports of Azerbaijani products to Russia equaled $859.311 mln in the first nine months of this year (down by 0.5% year-on-year), while imports from Russia totaled $2.639 bln (up by 16.3%), according to figures provided by the customs service.

Russia ranked third among Azerbaijan's trade partners in the period after Italy and Turkey, according to the report.

The share of trade operations with Russia during this period accounted for 10.14% of the republic’s total foreign trade turnover.

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