Azerbaijan-Russia Trade Turnover Reaches $3.94 Billion in 2024, Up Over 14% Year-on-Year

Photo: Shutterstock

Trade turnover between Azerbaijan and Russia reached $3.942 billion in the first ten months of 2024.

This marks a 14.5% increase from the $3.443 billion recorded during the same period in 2023, The Caspian Post reports, citing the State Customs Committee of Azerbaijan.

Exports from Azerbaijan to Russia totaled $972.509 million (a 1.2% increase), while imports from Russia amounted to $2.97 billion (a 19.7% rise). Russia is Azerbaijan's third-largest trade partner, following Italy and Türkiye, and accounts for 10.01% of Azerbaijan's total foreign trade turnover during this period.

In 2023, trade turnover between the two nations grew by 17.5%, reaching $4.358 billion, with Russia's share in Azerbaijan's foreign trade standing at 8.52%.