Trade turnover between Azerbaijan, Turkey rises by 29% in 1Q2022

Azerbaijan's trade turnover with Turkey amounted to $1.443 billion in the first quarter of this year, increasing by 29.1% in annual terms. 

During the reporting period, exports to Turkey increased by 30% in annual comparison and amounted to $961.074 million, while imports from Turkey increased by 27.3% and amounted to $482.194 million, according to APA's estimation based on the report of the State Customs Committee.

Natural gas accounted for more than half of all exports. 

As a result, there was a positive balance of $478.880 million in January-March 2022, which is 32.8% more than in January-March last year.

It should be noted that Azerbaijan and Turkey intend to increase the volume of mutual trade turnover in 2023 to $15 billion.