Russia emerges as leading importer of non-oil goods from Azerbaijan

From January to September 2024, Russia emerged as the leading importer of non-oil products from Azerbaijan, according to the latest “Export Review” by the Center for Analysis of Economic Reforms and Communication.

During this period, Azerbaijan's non-oil exports to Russia reached a value of $843.7 million, reflecting a 7.2% increase compared to the same timeframe in the previous year, Caliber.Az reports.

Türkiye ranked second among the top importers, though it experienced a significant decline of 31.1% in non-oil product imports, totalling $435.1 million. Georgia secured the third spot, importing non-oil products valued at $195.1 million, which marked an 18.8% reduction.

Switzerland and the United States rounded out the top five importers, with non-oil exports amounting to $119.6 million (a 6.3% increase) and $113.3 million (a remarkable 13.7-fold increase), respectively.

In terms of export volumes for September 2024 specifically, Azerbaijan sent $91.7 million worth of goods to Russia — up 39.4% from September 2023 — while exports to Türkiye totalled $40.5 million (down 10.4%). Exports to Georgia surged by 76.4%, amounting to $37.4 million. Kazakhstan saw a dramatic increase, with exports rising 3.7 times to reach $21.3 million, while exports to Switzerland fell by 27.2% to $19 million.

As for oil products, from January to September 2022, Azerbaijan exported nearly 19.5 million tons of crude oil and oil products, generating a total revenue of approximately $14.9 billion.

During this period, the primary importers of Azerbaijani crude oil and oil products were Italy, which imported 7.558 million tons valued at $5.674 billion, followed by India with 1.659 million tons worth $1.392 billion. Israel ranked third, importing 1.858 million tons for a value of $1.352 billion.

By Tamilla Hasanova