Russia Azerbaijan’s top trade partner among CIS countries in 2020

©Azer News

By Ayya Lmahamad

Russia was Azerbaijan’s largest trade partner among CIS countries during the first eight months of 2020, with the trade turnover between the two countries amounting to $1.7 billion, the State Customs Committee has reported.

In the reporting period, Azerbaijan exported to Russia goods worth $463 million, while the goods imported to Azerbaijan from Russia amounted to $1.2 billion. It should be noted that the trade turnover between Azerbaijan and Russia amounted to $1.8 billion during the same period of 2019.

Russia was Azerbaijan’s third largest trade partner during the reporting period after Italy and Turkey.

Ukraine is Azerbaijan’s second largest trade turnover partner among CIS countries, with a trade turnover worth $555 million during the reporting period.

Azerbaijan exported to Ukraine goods worth $276 million, while importing goods worth to $279 million. The trade turnover between Azerbaijan and Ukraine amounted to $576 million during the same period in 2019.

Likewise, Belarus is Azerbaijan’s third largest trade partner among CIS countries, with trade turnover amounting to $170 million.

Export of Azerbaijani goods to Belarus amounted to $98 million, while import to $72 million. It should be noted that the trade turnover between two countries amounted to $131 million during the same period last year.

The volume of Azerbaijan’s foreign trade turnover amounted to $16.5 billion during the period of January-August 2020. The value of export amounted to $9.8 billion or 59.6 percent of the total turnover, while the value of import amounted to $6.6 billion or 40.4 percent. Thus, foreign trade turnover resulted in surplus of $3.1 billion.

Follow us on Twitter @AzerNewsAz