Azerbaijan amps up trade turnover with CIS countries for 10M2023

BAKU, Azerbaijan, November 27. Azerbaijan's trade turnover with CIS countries exceeded $5.2 billion from January through October 2023, and its share in the total foreign trade turnover amounted to 11.24 percent, Trend reports.

From January to October 2023, Azerbaijan's trade turnover with CIS nations climbed by 9.33 percent, or $444.1 million.

The following table shows indicators of Azerbaijan's commercial turnover with CIS nations based on data from the Azerbaijani State Customs Committee:

From January to October 2023, Azerbaijan's foreign trade turnover fell by 6%, or $2.77 billion (from $46.3 billion to $43.5 billion).

In the structure of foreign trade turnover, exports totaled $29.3 billion, a $5.4 billion (15.46 percent) decrease from the same time last year. Exports accounted for 67.43 percent of total foreign trade turnover, down from 74.97 percent the previous year.

In the reporting period, Azerbaijan's imports climbed by $2.58 billion (22.32 percent) year on year, from $11.58 billion to almost $14.17 billion.

Imports accounted for 32.57 percent of total foreign trade turnover, up from 25.03 percent the previous year.

As a result, during the reporting period, the balance of foreign trade turnover, remaining positive, decreased year-on-year by more than $7.9 billion, or 34.39 percent - to $15.17 billion against $23.1 billion in the reporting period of 2022.