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Trade turnover between Azerbaijan and CIS countries increases

Economy Materials 18 March 2023 10:46 (UTC +04:00)
Trade turnover between Azerbaijan and CIS countries increases
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, March 18. The trade turnover between Azerbaijan and the CIS (the Commonwealth of Independent States) countries exceeded $1.1 billion and amounted to 15.36 percent of the total share of Azerbaijani trade turnover, Trend reports via the statistical data of the State Customs Committee of Azerbaijan.

The trade turnover between Azerbaijan and the CIS countries:

From January through February 2023

Country

Exports

Share (percent)

Imports

Share (percent)

Belarus

$4.9 million

1.87

$43.394 million

5.18

Kazakhstan

$20 million

7.58

$79.7 million

9.52

Kyrgyzstan

$2.1 million

0.80

$1.1 million

0.14%

Moldova

$479,370

0.18

$651,960

0.08%

Uzbekistan

$5.4 million

2,06%

$17.5 million

2.10

Russia

$195.9 million

73,93

$565.6 million

67.53

Tajikistan

$821,320

0.31

$3,270

0.00

Turkmenistan

$15.5 million

5.86

$89.5 million

10,70

Ukraine

$19.6 million

7.41

$39.9 million

4,76

The trade turnover between Azerbaijan and the CIS countries increased by 7.2 percent or $74 million year-on-year from January through February 2023.

Overall, its foreign trade turnover of Azerbaijan amounted to $7.17 billion in the first two months of 2023, which is a decrease of 9.7 percent or $768.8 million compared to the same period of 2022 ($7.94 billion).

Out of the total foreign trade turnover, exports accounted for $4.52 billion, which is $1.4 billion, or 24.25 percent less than the same period last year. The share of exports in the foreign trade turnover totaled 63.03 percent against 75.16 percent a year earlier.

Azerbaijan's imports in the reporting period increased by $678.5 million, or 34.4 percent, from $1.9 billion to about $2.6 billion. The share of imports in foreign trade turnover amounted to 36.97 percent against 24.84 percent a year earlier.

As a result, in the reporting period, the balance of foreign trade turnover, remaining positive, decreased by more than $2.1 billion, or 2.1 times on an annual basis, to $1.8 billion against $3.9 billion in the same period of the previous year.

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