Turkmenistan-Azerbaijan Trade Nears $400 Million in 2024

Turkmenistan-Azerbaijan

Ashgabat, The Gulf Observer: Turkmenistan and Azerbaijan witnessed a significant rise in mutual trade in 2024, with the total trade volume nearing $400 million, as reported by Turkmenistan’s official media on Friday.

According to the State Customs Committee of Azerbaijan, Turkmenistan’s exports to Azerbaijan reached $303.47 million, while Azerbaijan’s exports to Turkmenistan amounted to $80.24 million, bringing the total trade turnover to $383.9 million.

In contrast, Azerbaijan’s total foreign trade turnover for 2024 stood at $47.6 billion, comprising $26.55 billion in exports and $21.05 billion in imports. The steady growth in trade between the two Caspian nations underscores the potential for deeper economic cooperation in the region.

Notably, in 2023, trade between Turkmenistan and Azerbaijan had surged 73%, reaching $738.9 million, marking a peak in their commercial relations.