TODAY.AZ / Business

Exports to Russia record growth by 8pct

17 July 2019 [17:00] - TODAY.AZ

By Azernews

By Mirsaid Ibrahimzade

The trade turnover between Azerbaijan and Russia  amounted to $1.381 billion in January-June 2019 which recorded an increase by 21.4 percent compared to the same period of 2018.

The trade turnover between two countries exceeded $2.5 billion in 2018.

The share of trade operations with Russia accounted for 8.13 percent of the total foreign trade turnover of Azerbaijan within the first half of 2019, the State Statistical Committee of Azerbaijan informed local media

In this period, the volume of Azerbaijani exports products to Russia amounted to $377.454 million (an increase by 8.1 percent).

Russia imported foodstuffs and agricultural raw materials worth $526.1 million, mineral products for $103.6 million, textiles and their products, and shoes for $35.9 million in 2018.

In general, deliveries to Russia accounted for 3.78 percent of Azerbaijani exports in January to June 2019.

Imports of Russian products to Azerbaijan made up $ 1.004 billion (an increase of 27.4 percent). In the total volume of imports of goods to Azerbaijan, the share of deliveries from Russia accounted for 14.31 percent.

In 2018, Russian exports to Azerbaijan were mainly food products and agricultural raw materials ($422.1 million) machinery, equipment and vehicles ($381.6 million), metals and products from them ($315.9 million) wood and pulp-paper products ($238.1 million) as well as chemical products and rubber ($198 million).

Azerbaijan is one of the main economic partners of Russia among the CIS countries and Russia remains one of Azerbaijan’s main foreign trade partners. Interregional cooperation plays an important role in the development of Russian-Azerbaijani trade and economic relations and the increase in trade turnover. Moreover, Russia ranks first in terms of export of non-oil products from Azerbaijan.


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