BAKU, Azerbaijan, January 19. Azerbaijan's trade turnover with CIS nations exceeded $6.4 billion in 2023, and its share of overall international trade turnover amounted to 12.54 percent, Trend reports.
In the reporting period 2023, Azerbaijan's trade turnover with CIS countries increased by 6.17 percent or $378.1 million in annualized terms.
The below table reflects indicators of Azerbaijan's trade turnover with the CIS countries by the data of the Azerbaijani State Customs Committee:
|
2023 |
||||
|
Country |
Exports |
Share (%) |
Imports |
Share (%) |
|
Belarus |
$11.8 million |
1.92 |
$324.8 million |
6.81 |
|
Kazakhstan |
$98.5 million |
5.96 |
$215.6 million |
4.52 |
|
Kyrgyzstan |
$59.3 million |
3.59 |
$5.6 million |
0.12 |
|
Moldova |
$10.2 million |
0.62 |
$5.1 million |
0.11 |
|
Uzbekistan |
$47.1 million |
2.85 |
$131.7 million |
2.76 |
|
Russia |
$1.2 billion |
72.37 |
$3.2 billion |
66.1 |
|
Tajikistan |
$5 million |
0.30 |
$1.1 million |
0.02 |
|
Turkmenistan |
$86.1 million |
5.21 |
$687.8 million |
14.42 |
|
Ukraine |
$118.6 million |
7.18 |
$235.1 million |
4.93 |
|
Total |
$1.65 billion |
100 |
$4.77 billion |
100 |
By the end of 2023, Azerbaijan's foreign trade turnover had fallen by 2.85 percent, or $1.5 billion, from $52.7 billion to $51.2 billion.
Exports contributed for $33.9 billion of international trade transaction, down $4.2 billion or 11.14 percent from the previous year. Exports were for 66.2 percent of international trade turnover, compared to 72.4 percent a year before.
In 2023, Azerbaijan's imports increased by $2.7 billion, or 18.88 percent, from $14.5 billion to $17.3 billion. Imports accounted for 33.77 percent of total foreign trade turnover, up from 27.6 percent the previous year.
As a result, the foreign trade balance, while remaining positive from January through September 2023, declined by over $5.3 billion, or 27.84 percent, to $13.8 billion from $19.2 billion year-on-year.
As a result, the foreign trade balance, while remaining positive during the review period, declined year-on-year by over $6.9 billion or 29.63 percent to $16.613 billion against $23.606 billion in 2022.