BAKU, Azerbaijan, August 16. Azerbaijan's trade turnover with CIS countries from January through July 2024 exceeded $3.6 billion, and its share in the total foreign trade turnover amounted to 13.59 percent, Trend reports.
It means that in the reporting period of 2024, Azerbaijan's trade turnover with CIS countries took a nosedive by 2.43 percent, or $91.2 million in annualized terms.
Meanwhile, in the same period last year, Azerbaijan's trade turnover with CIS countries amounted to $3.7 billion.
Table of trade turnover of Azerbaijan with CIS countries based on the data of the State Customs Committee of Azerbaijan:
| from January through July 2024 | ||||
| Country | Export ($) | Specific weight | Import ($) | Specific weight |
| Belarus | $25.4 million | 2,71 percent | $222.8 million | 8,20 percent |
| Kazakhstan | $39.1 million | 4,18 percent | $97.1 million | 3,57 percent |
| Kyrgyzstan | $23.1 million | 2,47 percent | $5.1 million | 0,19 percent |
| Moldova | $2.8 million | 0,30 percent | $3.2 million | 0,12 percent |
| Uzbekistan | $18.6 million | 1,98 percent | $99.6 million | 3,67 percent |
| Russia | $656 million | 69,97 percent | $1.9 billion | 70,53 percent |
| Tajikistan | $2.7 million | 0,29 percent | $463,000 | 0,02 percent |
| Turkmenistan | $52.8 million | 5,63 percent | $208.5 million | 7,67 percent |
| Ukraine | $116.8 million | 12,46 percent | $163.9 million | 6,03 percent |
| Total | $937.5 million | 100,00 percent | $2.7 billion | 100,00 percent |
To note, Azerbaijan's foreign trade turnover from January through July 2024 decreased by 11.34 percent or $3.4 billion, compared to the indicator of the same period of 2023 (from $30.3 billion to $26.8 billion).
Exports accounted for $16 billion in the structure of foreign trade turnover, which was $4.6 billion or 22.52 percent down from the same period last year. The share of exports in the foreign trade turnover amounted to 59.86 percent against 68.5 percent a year earlier.
Azerbaijan's imports in the reporting period increased by $1.2 billion, or 12.94 percent, year-on-year from $9.5 billion to about $10.7 billion. The share of imports in the foreign trade turnover amounted to 40.14 percent, up from 31.5 percent a year earlier.
Consequently, the balance of foreign trade turnover, while remaining positive during the review period, declined year-on-year by over $5.9 billion, or 52.71 percent, to $5.3 billion against $11.2 billion in the 2023 reporting period.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel
