GENERICO.ruEconomicsTrade turnover between Russia and neighboring countries has reached a record level

Trade turnover between Russia and neighboring countries has reached a record level

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MOSCOW, March 16 Russia’s trade turnover with neighboring countries in Asia increased in 2023 to a record $56.2 billion, the main trading partners were Kazakhstan and Uzbekistan and Armenia, follows from calculations based on national statistical data.
Thus, total trade turnover with the region increased by 7% – to 56.2 billion dollars from 52.5 billion a year earlier. Kazakhstan remained Russia’s main trading partner among neighboring countries in Asia: trade turnover with it for the year remained stable at $26 billion, but Kazakhstan’s share decreased slightly – to 46% from almost 50% a year earlier.

Uzbekistan became Russia’s second largest partner in the region: trade turnover between the two countries increased by 5.4% compared to 2022 – to $9.9 billion. The top three is closed by Armenia, trade with which at the end of last year increased 1.4 times, to $7.3 billion.
Next comes Azerbaijan, trade turnover with which increased last year by almost 18% – to $4.4 billion. Uzbekistan, Armenia and Azerbaijan increased trade with Russia at the end of 2023 to historical highs, against this background they accounted for 38% of Russian trade turnover with the countries of the region against 33% a year earlier.

Kyrgyzstan has become Russia's fifth largest trading partner, while trade turnover with it decreased by 17%, to $2.9 billion. Georgia came sixth with a trade turnover of 2.4 billion compared to $2.5 billion a year earlier. Trade turnover with Tajikistan increased slightly – by 2.7%, to a record $1.7 billion.
Turkmenistan has not yet published data for 2023, while Russian Ambassador to Ashgabat Ivan Volynkin said in February that Russia and Turkmenistan expect an increase in mutual trade based on the results of last year. Thus, last year’s trade turnover should be no less than the figure for 2022 – $1.6 billion.


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