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Russia, Azerbaijan to increase mutual trade to $2.5 billion

Business Materials 25 February 2009 16:29 (UTC +04:00)

Azerbaijan, Baku, Feb. 25 / Trend , A.Badalova/

According to optimistic forecasts, mutual goods turnover will increase to $2.5 billion between Russia and Azerbaijan in 2009, Russian Trade Representation head in Azerbaijan Yuriy Shedrin said at a news conference on Feb. 25.

In 2008, mutual trade between the countries increased by 39.3 percent to $2.402 billion.

Russian exports to Azerbaijan amounted to $1.991 million in 2008, which is 42.6 percent more than in 2007.

Azerbaijani imports increased 25.4 percent to $411.4 million.

Trade surplus was $1.579 million.

"Russia is Azerbaijan's biggest goods provider and held the leading position among exporter-countries," Shedrin said.

Machine equipment production comprised 36.8 percent of raw materials exports in 2008.

Over 90 percent of the Russian goods imported to Azerbaijan are machinery, vehicles and chemicals, as well as metal, timber and construction materials.

Russia exported machinery worth $497.17 million to Azerbaijan in 2008, the Azerbaijani State Statistic Committee reported.

Russia delivered 15,637 cars, 6,108 trucks, 143 buses, 55 truck cranes, 371 special-purpose vehicles and 192 tractors to Azerbaijan last year.

Azerbaijan's goods delivery to Russia increased 10.6 percent to $582.87 million.

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