Baku: Azerbaijan’s foreign trade turnover with the member countries of the Organization of Turkic States (OTS) reached 4 billion 227.6 million US dollars from January to July this year.
According to Azeri-Press News Agency, this figure marks an 8.3% increase compared to the same period last year, highlighting a significant growth in trade relations with OTS members-Trkiye, Kazakhstan, Uzbekistan, and Kyrgyzstan.
During the specified period, trade with these countries represented 14.7% of Azerbaijan’s total trade turnover. Breaking down the numbers, Azerbaijan’s trade turnover with Trkiye was 3 billion 384 million US dollars, reflecting a 6.5% annual growth. Kazakhstan followed with a trade volume of 517.2 million US dollars, marking a 3.8-fold increase. Uzbekistan recorded a trade turnover of 268.9 million US dollars, representing a 2.3-fold rise, while trade with Kyrgyzstan doubled to 57.7 million US dollars.
Azerbaijan’s export activities to OTS members also showed a positive trend. Exports to Trkiye amounted to 2 billion 9 million US dollars, an increase of 13.7% annually. Exports to Kazakhstan surged by 53.3% to reach 60 million US dollars. Exports to Uzbekistan grew by 90.2% to 35.4 million US dollars, and exports to Kyrgyzstan increased by 67.6% to 7.5 million US dollars. These exports constituted 13.2%, 0.4%, 0.2%, and 0.05% of Azerbaijan’s total export volume, respectively.
On the import side, Azerbaijan imported products worth 1 billion 374.9 million US dollars from Trkiye, showing a 6.5% annual rise. Imports from Kazakhstan increased 4.7 times to 457.1 million US dollars. Imports from Uzbekistan and Kyrgyzstan rose 2.3 times and 9.6 times, amounting to 233.5 million US dollars and 50 million US dollars, respectively. These imports made up 10.1%, 3.4%, 1.7%, and 0.4% of Azerbaijan’s total imports.