Azerbaijan and Kazakhstan Record Rates of Trade Turnover Growth
According to the State Customs Committee (SCC) data of Azerbaijan on December 28, the trade turnover between Azerbaijan and Kazakhstan in January-November 2022 amounted to $549.8 million, which is 396.6 percent higher than the figure recorded a year earlier ($110.7 million).
The volume of mutual trade for this period amounted to 10.28% of the total trade turnover between Azerbaijan and all CIS countries. According to the State Customs Committee, Azerbaijan's exports to Kazakhstan amounted to $90.4 million, up 152% compared to $35.8 million a year earlier. At the same time, imports from Kazakhstan to Azerbaijan exceeded $459 million. Compared to the figure for 2021 ($74.8 million), the largest country in Central Asia exported 513% more goods and services to Azerbaijan.
Notably, one of the cross-border corridors for the delivery of goods from China to Europe using the territory of Azerbaijan is currently being actively considered: the Trans-Caspian International Transport Route. Against the backdrop of the ongoing geopolitical crisis around Ukraine and the unprecedented severity of Western sanctions against Moscow, the demand for the Trans-Caspian International Transport Route for European countries has increased dramatically.
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