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    World Economics Kazakhstan

    Trade between Kazakhstan and Azerbaijan hits over $160 mn in 1Q24

    Trade between Kazakhstan and Azerbaijan hits over $160 mn in 1Q24

    The volume of trade turnover between Kazakhstan and Azerbaijan in 1Q24 stood at $162.7 mn, indicating an increase of 31.6% compared to the same period in 2023, the country's Bureau of National Statistics reports.

    Photo: Trade turnover
    Source: Adobe Stock

    Exports surge, imports decline

    Exports to Azerbaijan were the primary driver of this growth, totalling $151.4 mn, representing a significant 46.8% increase from January to March 2023. In contrast, imports from Azerbaijan decreased by 44.7% during the same period, amounting to $11.3 mn, down from $20.5 mn in 1Q23.

    2023 overview

    The trade turnover between the two countries in 2023 reached $529.4 mn, showing a notable increase of 14.2% from the previous year's $463.3 mn. 

    In 2023, exports to Azerbaijan accounted for $456.3 mn, marking a substantial 21.6% increase from January to December 2022. Meanwhile, imports from Azerbaijan in 2023 decreased by 17.3% compared to the previous year, totalling $73 mn, down from $88.3 mn in 2022.

    Earlier, Daryo reported that Uzbekistan became the third largest foreign investor in Kazakhstan, overtaking China in the number of registered companies, Data Hub reports. As of May 1, there are 4,595 Uzbek companies registered in Kazakhstan. This is an increase of 706 companies since the beginning of the year. In contrast, Chinese companies, which previously held the third position, increased their presence by only 204 enterprises.

     

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    25.05.2024, 18:32   Comments (0)   1962
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