Azerbaijan could lose nearly $1.2 billion by losing the Russian market.

Azerbaijan would lose nearly $1.2 billion if it lost the Russian market

According to data from the United Nations Commodity Trade Statistics database, RIA Novosti estimated that if Azerbaijan lost the Russian market, its companies might lose nearly $1.2 billion, accounting for 4.4% of Baku's total exports. At the same time, Russia's exports to Azerbaijan account for only 0.8% of the total exports.

This week, Rasim Musabayov, a member of the Azerbaijani National Assembly, told the Azerbaijani newspaper "Meydan" in an interview that negotiations between Russia and Azerbaijan on some major joint economic projects have been suspended.

Last year, Azerbaijan exported goods worth $26.6 billion. Of this, nearly $1.2 billion (4.4%) was exported to Russia. Compared to 2023, Azerbaijan's exports to Russia fell by 1.5%, and total exports fell by one-fifth.

Meanwhile, according to data from the Russian Bank, Russia's exports reached $433.1 billion in 2024. Only 0.8% (3.6 billion dollars) were sold to Azerbaijan. This is 15% higher than a year ago. At the same time, according to 2024 statistics, Russia's exports to Azerbaijan reached the highest level since 2020, and Azerbaijan's exports to Russia also reached a record high.

Original article: https://www.toutiao.com/article/1836592296881416/

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