BAKU, Azerbaijan, May 24. Russia emerged as one of the Kyrgyzstan's primary trade partners, with trade between the two countries reaching $505.3 million, or 18.6 percent of Kyrgyzstan's overall trade turnover during the period from January to March 2023, Trend reports.
According to the statistical data, trade turnover between Kyrgyzstan and Russia in the mentioned period decreased by 19 percent over $622.4 million in the same period of 2022.
Furthermore, exports from Kyrgyzstan to Russia during the reviewed period reached $116 million, indicating a 19 percent increase compared to $96.8 million in the first quarter of 2023. A share of 26.7 percent of Kyrgyzstan's total exports fell on Russia.
Imports by Kyrgyzstan from Russia made up $389.3 million, facing a decrease of 26 percent compared to $525.5 million in 1Q2022. As reported, imports from Russia accounted for 17 percent of Kyrgyzstan’s overall imports.
Back in 2022, Russia was the second-largest trade partner of Kyrgyzstan, falling only behind China. The trade turnover between Kyrgyzstan and Russia exceeded $3.2 billion in 2022, which is 40 percent more than $2.3 billion in 2021.
During the period from January to March 2023, Kyrgyzstan’s trade turnover reached $2.7 billion, which is a notable increase of 25.4 percent compared to the same period in 2022, when it stood at $2.1 billion.
Exports exceeded $434.7 million, increasing by 15 percent compared to 1Q2022 ($376 million). While imports reached $2.2 billion, which is a 27-percent increase over $1.7 billion in the same months of 2022)