Trade turnover between Russia and Azerbaijan reached $4.749 billion in 2024, according to the State Customs Committee of Azerbaijan.
In 2023, the trade turnover between the two countries amounted to $4.358 bln. Thus, the growth for the year exceeded 10%.
Exports of Azerbaijani products to Russia declined by 1.5% and amounted to $1.178 bln in 2024, while imports of goods from Russia rose by 14.5% to $3.621 bln.
By the end of 2024 Russia ranked third among the trading partners of Azerbaijan after Italy ($11.39 bln) and Turkey ($6.13 bln).
Trade with Russia accounted for 10.08% of Azerbaijan’s foreign trade turnover during this period.
