Azerbaijani-Russian trade turnover grows 1.6-fold in Q1

BAKU. April 17 (Interfax) - Azerbaijani-Russian trade turnover reached $1.4 billion in Q1 2025, up 60.7% compared to January-March 2024, the Azerbaijani State Customs Committee (SCC) told Interfax.

According to SCC data, trade with Russia accounted for 11.88% of Azerbaijan's total foreign trade turnover. Russia became Azerbaijan's second-largest trading partner after Italy (having ranked third in Q1 2024, when Turkey held second place).

Exports of Azerbaijani products to Russia rose 2.1% to $233.8 million January-March, accounting for 3.66% of Azerbaijan's total exports. Russia ranks as the sixth-largest destination for Azerbaijani exports.

Russia remains the largest importer of Azerbaijan's non-oil products, with Q1 supplies reaching $232.8 million (up 3.2%), accounting for 30.17% of this category.

Imports of Russian products to Azerbaijan amounted to $1.197 billion (+81%), accounting for 21.15% of Azerbaijan's total imports. Russia ranks as Azerbaijan's second-largest supplier after China.

Consequently, Azerbaijan's trade deficit with Russia in Q1 2025 stood at $963.9 million, SCC data shows.

As reported, Azerbaijani-Russian trade turnover reached $4.8 billion in 2024, up 10.1% year-on-year.