Balancing Foreign Trade of the Republic of Azerbaijan with Russia and Georgia

Abstract

The article assesses the balance of foreign trade indicators between the Republic of Azerbaijan and Georgia. The assessment was calculated using macroeconomic indicators (exports, imports, trade turnover, balance), as well as the balancing coefficient of foreign trade flows and the coverage coefficient of exports and imports, which characterize the development of foreign trade relations. The object of the study is the foreign trade of the Republic of Azerbaijan with Russia and Georgia. The indicators provided in the study were taken from official sources such as the Azerbaijan State Statistical Committee (ASSC). According to the results obtained, it was found that the foreign trade relations of the Republic of Azerbaijan with Russia, a neighboring country, are unbalanced, and the relations with Georgia are balanced. The importance of the research is that the results obtained can be used in scientific works in various fields.