BAKU, Azerbaijan, June 14. Azerbaijan's trade turnover with CIS countries from January through May 2024 exceeded $2.5 billion, and its share in the total foreign trade turnover amounted to 13.7 percent, Trend reports.
Azerbaijan's trade turnover with CIS countries decreased by 7.86 percent, or $215.5 million annually, during the reporting period of 2024.
Meanwhile, in the same period last year, Azerbaijan's trade turnover with CIS countries amounted to $2.7 billion.
The table of Azerbaijan's trade turnover with CIS countries based on the data of the State Customs Committee of Azerbaijan:
| from January through May 2024 | ||||
| Country | Export ($) | Specific weight (percent) | Import ($) | Specific weight (percent) |
| Belarus | 16.1 million | 2,61 | 157.6 million | 8,27 |
| Kazakhstan | 22.5 million | 3,63 | 84.7 million | 4,45 |
| Kyrgyzystan | 22.4 million | 3,62 | 3.8 million | 0,20 |
| Moldova | 1.9 million | 0,31 | 2.2 million | 0,12 |
| Uzbekistan | 10.6 million | 1,72 | 58.2 million | 3,06 |
| Russia | 437.9 million | 70,57 | 1.3 billion | 68,33 |
| Tajikistan | 2.4 million | 0,40 | 347,200 | 0,02 |
| Тurkmenistan | 32 million | 5,16 | 171 million | 8,97 |
| Ukraine | 74.3 million | 11,98 | 125.2 million | 6,57 |
| Total | 620.6 million | 100,00 | 1.9 billion | 100,00 |
However, Azerbaijan's foreign trade turnover from January through May 2024 decreased by 19.67 percent, or $4.5 billion, compared to the same period in 2023 (from $22.953 billion to $18.439 billion).
Exports accounted for $11.1 billion in the structure of foreign trade turnover, which is $4.9 billion, or 30.88 percent less than the figure for the same period last year. The share of exports in the foreign trade turnover amounted to 60.41 percent, compared to 70.21 percent a year earlier.
Azerbaijan's imports in the reporting period increased year-on-year by $461.9 million, or 6.75 percent, from $6.8 billion to about $7.3 billion. The share of imports in the foreign trade turnover amounted to 39.59 percent, compared to 29.79 percent a year earlier.
Consequently, while remaining positive during the review period, the foreign trade balance declined year-on-year by over $5.4 billion, or 58.62 percent, to $3.8 billion, compared to $9.2 billion in the reporting period in 2023.
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