Supplies of Azerbaijani agricultural and food products to Russia grew 25.5% year-on-year in January-August 2016, Russian Deputy Economic Development Minister Alexander Tsybulsky said, taking part in the 7th Azerbaijani-Russian interregional forum on Tuesday in Baku.


"In January-August 2016 Azerbaijani-Russian trade exceeded $1 billion. Unfortunately, we are recording a significant drop in supplies this year. Overall trade fell by more than 40%. There is a decline in both Russian exports and imports," he said.


The minister said that despite the negative external and internal conditions, Russia remains one of the main foreign trading partners of Azerbaijan and is in third place in terms of overall trade with a share of almost 11% and is first when it comes to imports with a share of 17.5%.


"A significant contribution in trade and economic relations comes from trade in services which totaled almost 20% of our trade. In 2015, trade in services totaled $500,000 but in Q1 2016 there was a slight decline," he said.

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