Azerbaijani-Russian trade down almost 6% in Jan-April 2024

BAKU. May 15 (Interfax) - Azerbaijani-Russian trade decreased by 5.7% year-on-year to $1,308,457,490 in January-April 2024, the Azerbaijani State Customs Committee told Interfax.

Russia accounted for only 9.6% of Azerbaijan's foreign trade in January-April 2024 (it ranks third among Azerbaijan's trade partners after Italy and Turkey), the committee said.

In the reporting period, Azerbaijani exports to Russia decreased by 6.9% to $325,478,830 and accounted for 3.98% of total Azerbaijani exports. Russia ranks fifth among importers of Azerbaijani products.

Russian imports in Azerbaijan went down 5.3% to $982,978,660 over the first four months of the year. Russia accounted for 17.99% in overall imports in Azerbaijan, Russia ranks second among Azerbaijan's importers [after China].

According to the committee, the negative balance of Azerbaijan in export-import operations with Russia reached $657,499,830 in January-April 2024.

As reported, Azerbaijani-Russian trade stood at $4,358,740,170, up 17.5% from 2022.