The trade turnover between Azerbaijan and Russia in January-June 2023 amounted to $2 billion 164 million 562.84 thousand, which is 37.7% more than a year earlier, the State Customs Committee of Azerbaijan (SCC) told Interfax-Azerbaijan.According to the SCC, trade operations with Russia accounted for 8.27% of Azerbaijan’s total foreign trade turnover in January-June 2023 and the Russian Federation is Azerbaijan’s third foreign trade partner.
The export of Azerbaijani products to the Russian Federation amounted to $621 million 134.88 thousand (an increase of 59.2%). In general, supplies to Russia accounted for 3.46% of Azerbaijani exports (Russia ranks 6th in the main directions of Azerbaijani exports).
Imports of Russian products to Azerbaijan amounted to $1 billion 543 million 427.96 thousand (an increase of 30.6%). In the total volume of imports of goods to Azerbaijan, the share of supplies from Russia accounted for 18.83% (Russia is the No. 1 importer to Azerbaijan).
Thus, according to the SCC, Azerbaijan’s negative balance in export-import relations with the Russian Federation in January-June 2023 amounted to $922 million 293.08 thousand.
As previously reported, by the end of 2022, the Azerbaijani-Russian trade turnover amounted to $3 billion 710 million 239.41 thousand (+23.9% of the 2021 figure).