BAKU, Azerbaijan, December 3. Azerbaijan's trade turnover with CIS (Commonwealth of Independent States) countries hit the ground running, soaring past $5.7 billion from January through October 2024.
Data obtained by Trend from the State Customs Committee indicates that this represents an increase of approximately $496.7 million, or a 9.5 percent rise compared to the same period last year.
Moreover, when it comes to trade transactions, the CIS countries made quite a splash, representing a hefty 32.01 percent of Azerbaijan’s overall trade turnover during the reporting period.
The trade landscape reveals that the most significant contribution originated from our engagement with Russia, totaling an impressive $3.94 billion, reflecting a robust 14.5 percent growth compared to the prior year.
This dynamic figure was propelled by robust trade with Belarus, reaching approximately $404 million, reflecting a remarkable 47.7 percent surge. Kazakhstan followed closely with an impressive $394 million, showcasing a substantial 38.7 percent growth, while Ukraine contributed significantly with $380 million, marking a noteworthy 33.3 percent escalation.
Meanwhile, there was a decline in trade with Turkmenistan, with the turnover falling by 52.5 percent to $338 million.
Other countries saw varying results, with Uzbekistan showing a 37.2 percent increase to $196 million, Kyrgyzstan down by 28.7 percent to $34 million, Moldova down by 37.02 percent to $8.34 million, and Tajikistan remaining almost unchanged with a slight decrease of 0.11 percent, reaching $5.18 million.
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