ASTANA — Kazakhstan’s trade turnover with Azerbaijan reached $394 million in the first 10 months this year, marking a 38.7% increase from the previous year, reported Kazinform on Dec.4.
Kazakhstan, Azerbaijan trade volumes increases by 38.7%. Photo credit: gov.kz
According to the State Customs Committee of Azerbaijan, exports from Azerbaijan to Kazakhstan increased by 23.2%, totaling $107.7 million. Exports from Kazakhstan to Azerbaijan grew by 45.6%, reaching $286 million from Jan. 1 to Oct. 31.
Kazakhstan’s main exports to Azerbaijan include non-ferrous metals, crude oil, petroleum products and parts for electric motors and installations. In return, Azerbaijan exports ships for transportation, mineral waters, textiles, polyethylene, construction materials and various agricultural products such as fruits and vegetables.
During official visits by the heads of state from both countries in 2023, Kazakhstan and Azerbaijan set a goal to increase mutual trade to $1 billion.
Among the Commonwealth of Independent States (CIS) countries, Russia and Belarus lead in trade with Azerbaijan, with a trade volume of $3.94 billion and $403.96 million, respectively. However, Azerbaijan has seen greater growth in trade with Belarus, which increased by 47.7%, while its trade with Russia grew by 14.5%.
Kazakhstan ranks third in trade volume with Azerbaijan. Tajikistan has the lowest trade turnover with Azerbaijan, totaling just $5.18 million during the reporting period.
Azerbaijan’s overall trade turnover with CIS countries reached $5.7 billion, marking a 9.5% increase from the same period of the previous year.
