Azerbaijan-Russia trade turnover declines by 31.2% to $2.1 billion

The value of trade turnover between Azerbaijan and Russia amounted to $2.1 billion in January-July this year, down $959.97 million (31.2%) from the same period last year.

Report informs, citing the State Customs Committee, that over the past year, the value of Azerbaijan's exports to Russia increased by 3.9% to $749.55 million, while imports decreased by 42% to $1.36 billion.

During the reporting period, trade with Russia accounted for 7.2% of total trade turnover. Of this, exports accounted for 3.8% of total exports, while imports from Russia accounted for 13.7% of total imports.

During the seven months, Azerbaijan conducted trade operations with foreign countries worth $29.22 billion, 1.3% more than in the same period last year. Exports accounted for $19.34 billion of foreign trade turnover, while imports accounted for $9.88 billion. Over the past year, exports increased by 27%, while imports decreased by 27.4%. As a result, the country recorded a positive foreign trade balance of $9.46 billion, 5.9 times higher year-on-year.