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Italy – leader among foreign trade partners of Azerbaijan

Business Materials 21 February 2017 09:29 (UTC +04:00)

Baku, Azerbaijan, Feb. 21

By Anvar Mammadov – Trend:

Italy ranked first in the list of Azerbaijan’s foreign trade partners in January 2017 with a trade turnover of $222.77 million, said a report of Azerbaijan’s State Customs Committee.

Italy has been leading among trade partners of Azerbaijan for eight years, but the country was behind Turkey in late 2016.

According to the report, Italy’s share among trade partners is 17.76 percent. The trade turnover between Azerbaijan and Italy increased by 8 percent in January 2017 compared January 2016.

Turkey ranked second among Azerbaijan's trade partners in January 2017. The trade turnover between Azerbaijan and Turkey amounted to $127.54 million in January 2017, increasing by more than twofold in January 2016. Turkey’s share among trade partners is 10.16 percent.

Russia with a share of 8.73 percent ($109.54 million) ranked third among trade partners of Azerbaijan in January 2017. Russia is followed by Taiwan with 8.67 percent ($108.78 million) and India with 5.42 percent ($67.95 million).

The share of the top five countries in total trade turnover of Azerbaijan is 50.74 percent.

Azerbaijani products worth $205 million (25.48 percent) were exported to Italy. Italy is followed by Taiwan with a share of 13.47 percent ($108.39 million), Turkey with 7.83 percent ($62.99 million), Portugal with 7.22 percent ($58.13 million) and India with 6.98 percent ($56.13 million). The share of those countries in total export volume of Azerbaijan is 60.98 percent.

Azerbaijan imported most of products from Russia ($83.63 million) in January 2017. Thus, 18.58 percent of total import volume of Azerbaijan accounted for Russia.

Russia is followed by Turkey - $64.55 million (14.34 percent), China - $52.83 million (11.74 percent), Germany - $24.79 million (5.51 percent) and the US - $23.08 million (5.13 percent). The share of those countries in the total import volume of Azerbaijan is 55.3 percent.

Azerbaijan's foreign trade turnover with 117 countries totaled $1.25 billion in January 2017, which is by 16.79 percent more than in January 2016. Azerbaijan carried out export operations in the amount of $804.63 million, while import operations - $450.05 million.

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