TODAY.AZ / Business

Azerbaijan boosts cherries, chokecherries exports

26 February 2020 [18:15] - TODAY.AZ

By Azernews

By Ofeliya Afandiyeva

The volume of Azerbaijan’s export of sweet cherries and chokecherries to Russia increased by 13.7 percent year-on-year in 2019 to 26,515 tons.

The revenue from the sale of these products was $42 million 199,67 thousand (an increase of 11 percent).

Almost all exports fell to Russia. In particular, last year 26,413 tons of sweet cherries and chokecherries were exported to Russia (an increase of 13.3 percent) in the amount of $42 million 69.55 thousand (an increase of 10.9 percent). Overall, in 2019, 99.6 percent of sweet cherry and chokecherry exports from Azerbaijan fell to Russia.

In 2018, Azerbaijan exported 23.32 thousand tons of sweet cherries and chokecherries worth $37 million 987.72 thousand. The main export of these products fell to Russia. 23,274 tons of sweet cherries and chokecherries worth $37 million 919.24 thousand were exported to the Russian Federation

It should be mentioned that Azerbaijan accounts for 50 percent of Russia's trade in the South Caucasus region.

According to the State Customs Committee’s report, the trade turnover between Azerbaijan and Russia increased by 18.5 percent to reach $3 billion 22 million 46,000 year-on-year in 2019.

The share of trade operations with Russia accounted for 9.07 percent of Azerbaijan’s total foreign trade turnover in 2019.

During the reporting period, the volume of export of Azerbaijani products to Russia amounted to $731 million 826,200 (an increase of 9.9 percent). In 2019, 3.73 percent of Azerbaijani exports accounted for those to Russia.

In 2019, Russia imported products worth $2 billion 290 million 219,800 to Azerbaijan. This indicates a 21.5 increase compared to 2018. The share of supplies from Russia accounted for 16.76 percent in the total volume of imports to Azerbaijan.

The negative balance of Azerbaijan in trade relation with the Russia amounted to $1 billion 558 million 393,600 in 2019.

Russia is the leader in the import of Azerbaijan’s non-oil products. In recent years, economic ties between the two countries have been increasing.

About 950 companies with Russian capital operate in Azerbaijan. So far, the value of investments by Russian companies in Azerbaijan has mounted to $4.9 billion, and the Azerbaijani investments in Russia have stood at $1.2 billion.

The two countries also cooperate in energy, transport, humanitarian sphere, tourism, agriculture, military-technical and other spheres.


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