Page 53 - RusRPTDec22

Turkiye’s bilateral trade with Russia in 2021 reached about $30bn, with
some $23bn of this being Russian exports to Turkiye. The two countries
engage in a great deal of energy trade, however Russia’s need for parallel
imports is also feeding an increase in bilateral trade. In the 10M 2022,
Turkiye-Russia bilateral trade has reached about $60bn, of which Russian
exports to Turkiye amount to $25.99bn. Compounded over the whole of 2022,
this would indicate a total trade volume of some $72bn and Russian exports of
about $31.19bn, increases of $42bn and $8.2bn respectively.
President of Azerbaijan Ilham Aliyev is satisfied with the growth of trade
turnover with Russia, and he sees prospects for its growth. According to the
leader, there is potential in the area of cargo transportation as well. "We are
very glad, of course, that mutual trade is returning to the pre-pandemic level,
and I am confident that the dynamics will persist," he said. Aliyev welcomed
Russian Prime Minister Mikhail Mishustin, who is paying a visit to Baku, at his
Zagulba residence near the Caspian Sea on November 18.
The trade turnover between Azerbaijan and Russia in January-October 2022
rose by 22.3% y/y and amounted to $2.868bn, the State Customs Committee
of Azerbaijan announced on Thursday.
According to the report, the export of Azerbaijani products to Russia in
January-October amounted to $719.1mn (+3.2% y/y), imports of goods from
Russia - $2.149bn (+30.4% y/y).
Russia ranked third among Azerbaijan's trading partners in the reporting
period, after Italy and Turkey. The share of trade operations with Russia during
this period accounted for 6.19% of the total foreign trade turnover of the
country.
In 2021, the trade turnover between Azerbaijan and Russia increased by
12.1% y/y and reached $2.99bn. The share of trade operations with Russia
last year amounted to 8.83% of the total foreign trade turnover of Azerbaijan.
Trade turnover between Russia and Belarus increased by 9% in the first 9
months of 2021 and reached $30.5bn, Russia’s Deputy Economic
Development Minister Dmitry Volvach said on Wednesday. In the first nine
months of the year the volume of Russian imports from Belarus increased by
14.6%, he said as quoted by his ministry’s press service.
The value of Chinese goods exports flowing to Russia declined sharply
last spring following Russia’s attack on Ukraine, but it has recovered to
pre-invasion levels in autumn.
The growth in exports has slowed in recent months following summer’s brisk
recovery. Preliminary figures for October show exports were still slightly higher
53 RUSSIA Country Report December 2022 www.intellinews.com