Azerbaijan boosts volume of trade turnover with CIS nations in 2024
Azerbaijan's trade turnover with CIS (Commonwealth of Independent States) countries from January to July 2024 surpassed $6.9 billion, representing 14.55 percent of the total foreign trade turnover, Trend reports.

Data obtained by Trend from the State Customs Committee indicates that Azerbaijan's trade turnover with CIS countries rose by 7.89 percent in 2024, or $506.6 million in annualized terms.
Meanwhile, in the same period last year, Azerbaijan's trade turnover with CIS countries amounted to $6.4 billion.
Exports made up $16 billion of the foreign trade turnover, which totaled $26.5 billion, reflecting a decrease of 21.67 percent compared to the same period last year. The portion of exports in the foreign trade turnover stood at 55.77 percent, a drop from 66.23 percent the previous year.
Azerbaijan's imports in the reporting period increased by $3.7 billion, or 21.83 percent, year-on-year from $17.2 billion to about $21 billion. The share of imports in the foreign trade turnover amounted to 44.23 percent, up from 33.77 percent a year earlier.
Consequently, the balance of foreign trade turnover, while remaining positive during the review period, declined year-on-year by over $11.1 billion, or 66.92 percent, to $5.4 billion against $16.6 billion in the 2023 reporting period.
Earlier it was reported that BP Azerbaijan would build a new platform at the Shah Deniz gas condensate field.