Azerbaijan's trade with Russia up 17.5% to $4.3 bln in 2023

BAKU. Jan 18 (Interfax) - Trade between Azerbaijan and Russia totaled $4,358,740.170 last year, an increase of 17.5% on 2022, the Azerbaijani State Customs Committee told Interfax.

Trade with Russia accounted for 8.52% of all foreign trade in 2023, with Russia being Azerbaijan's third biggest trading partner, the Committee said.

Exports to Russia totaled $1,196,411,310 (up 22.7%), or 3.53% of all Azerbaijani exports (which Russia is the sixth biggest destination for).

Imports from Russia totaled $3,162,328,860 (up 15.6%), or 18.29% of all imports to Azerbaijan (Russia is the number one importer to Azerbaijan).

This means that Azerbaijan's balance of trade with Russia in 2023 was negative, at $1,965,917,550, the Committee said.

In 2022, trade between the two countries stood at $3,710,239,410 (up 23.9% on 2021).