Azerbaijan's trade turnover with Turkiye increases

In January 2024, the trade volume between Azerbaijan and Turkiye reached 475.52 million, showing an increase of 18.4% compared to January of the previous year, Azernews reports citing the State Customs Committee.

During the same month, Azerbaijan imported goods worth 170.48 million from Turkey and exported goods worth 305.38 million to Turkiye. This represents a decrease of 6.8% in imports and an increase of 39% in exports compared to the corresponding period last year.

Turkiye holds the position of being Azerbaijan's second-largest trading partner.

Note that the import of a number of products from Azerbaijan was exempted from customs duty for 10 years. Thus, Turkiye will import wine, mulberry, quince, iron and steel products, and packaging materials from Azerbaijan, and Azerbaijan will import copper wire, washing machines, monitors, video recorders, car spare parts, and aluminum from Turkiye without customs duty.