Azerbaijan Boosts Volume Of Trade Turnover With CIS Nations In 2024
Date
1/24/2025 10:09:34 PM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, January 25. Azerbaijan's
trade turnover with CIS (Commonwealth of Independent States)
countries from January to July 2024 surpassed $6.9 billion,
representing 14.55 percent of the total foreign trade turnover.
Data obtained by Trend from the State customs Committee indicates that
Azerbaijan's trade turnover with CIS countries rose by 7.89 percent
in 2024, or $506.6 million in annualized terms.
Meanwhile, in the same period last year, Azerbaijan's trade
turnover with CIS countries amounted to $6.4 billion.
Table of trade turnover of Azerbaijan with CIS countries based
on the data of the State Customs Committee of Azerbaijan:
| from January through December
2024 |
| Country |
Export ($) |
Specific weight |
Import ($) |
Specific weight |
| Belarus |
$48.4 million |
2,85 percent |
$457.6 million |
8,75 percent |
| Kazakhstan |
$133.1 million |
7,84 percent |
$337.3 million |
6,45 percent |
| Kyrgyzstan |
$29.6 million |
1,75 percent |
$10.4 million |
0,20 percent |
| Moldova |
$5.12 million |
0,30 percent |
$4.97 million |
0,10 percent |
| Uzbekistan |
$40.3 million |
2,38 percent |
$211.7 million |
4,05 percent |
| Russia |
$1.1 billion |
69,38 percent |
$3.62 billion |
69,24 percent |
| Tajikistan |
$5.85 million |
0,34 percent |
$1.24 million |
0,02 percent |
| Turkmenistan |
$80.2 million |
4,72 percent |
$303.4 million |
5,80 percent |
| Ukraine |
$177.2 million |
10,44 percent |
$282.3 million |
5,40 percent |
| Total |
$1.6 billion |
100,00 percent |
$5.23 billion |
100,00 percent |
To note, Azerbaijan's foreign trade turnover in 2024 decreased
by 6.98 percent, or $3.5 billion, compared to the indicator of the
same period in 2023 (from $51.1 billion to $47.6 billion).
Exports made up $16 billion of the foreign trade turnover, which
totaled $26.5 billion, reflecting a decrease of 21.67 percent
compared to the same period last year. The portion of exports in
the foreign trade turnover stood at 55.77 percent, a drop from
66.23 percent the previous year.
Azerbaijan's imports in the reporting period increased by $3.7
billion, or 21.83 percent, year-on-year from $17.2 billion to about
$21 billion. The share of imports in the foreign trade turnover
amounted to 44.23 percent, up from 33.77 percent a year
earlier.
Consequently, the balance of foreign trade turnover, while
remaining positive during the review period, declined year-on-year
by over $11.1 billion, or 66.92 percent, to $5.4 billion against
$16.6 billion in the 2023 reporting period.
MENAFN24012025000187011040ID1109127561
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.