Azerbaijan Boosts Volume Of Trade Turnover With CIS Nations In 2024

(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.

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