Foreign trade of Azerbaijan (January-February 2014)

The foreign trade turnover with 112 world countries amounted to $4.04 billion in January-February 2015, or 18.65 percent less than in January-February 2014. The volume of exports decreased by 38.2 percent and amounted to $2.33 billion compared to January-February 2014. The volume of import increased by 43.45 percent and amounted to $1.7 billion.

Azerbaijan exported 724 goods and imported 4,094 different goods.

As of January 2015, the nominal index of export exceeded import. This formed the foreign trade surplus to the amount of over $627.4 million.

The country's foreign trade surplus amounted to $2.6 billion in January-February 2014.

As in previous periods, oil, gas and oil products were mainly exported from Azerbaijan in January-February 2015.

Main products exported from Azerbaijan

Source: Azerbaijani state customs committee

Most of Azerbaijan's exports as of January-February 2015 (78.21 percent) fell to the export of crude oil. The exports of crude oil decreased by 44.14 percent compared to January-February 2014. This is connected with a decrease in the world oil prices.

The export of oil products decreased by 28.06 percent during this period. Around 5.23 percent of total exports from the country fell to the oil products.

A decrease in the cost of gas exports by almost 70 percent compared to the same period of last year is connected with the fact that Azerbaijan exported large volumes of gas to Russia in January-February 2014. Pumping of Azerbaijani gas to Russia has been suspended since August 2014 due to the technical work on the gas transport infrastructure.

The electricity exports from Azerbaijan sharply increased in January-February 2015. In January-February 2015, according to the control devices, the supply of electricity for export from the country amounted to 67.796 million kilowatt / hours, which is 3.75 times more than in the same period of 2014 (18.057 million kW / h). The country exported electricity at a price of $0.0519 per 1 kW / h in January-February.

The export volume of fruits and vegetables, which is the basis of the agricultural exports of Azerbaijan, has greatly increased. According to the committee, exports of Azerbaijan's agricultural products increased by 72.3 percent in January-February 2015.

Its supplies to Russia's markets increased. The logistics centers are built in Azerbaijan and outside the country for storage, transportation, export and sale of agricultural products.

In this period, the highest amount of export fell on Italy in January-February 2015. Thus, during this period Azerbaijan exported goods totaling $485.73 million to Italy which makes up 20.81 percent of a total export volume. Mainly oil and oil products are exported to this country. Germany ($243.69 million) and US $199.36 million) hold leading positions. Italy has maintained its leading position since 2008 excluding early three months. Turkey took a lead in January and U.S. in February and March 2008.

The US ranks first on largest import volume ($466.05 million) in January-February 2015. About $27.3 percent of the Azerbaijani imports fell to it. Russia ranks second - $254.89 million and Turkey - third ($203.32 million).

Most of Azerbaijan's imports or 31.33 percent in the reporting period fell to the import of vehicles and spare parts. They were imported to the amount of $531.78 million in January-February 2015 or by 5 times more than in 2014.

This kind of import ranked first.

However, despite an increase in the value of imports of these products, the physical import of cars to Azerbaijan in January-February 2015 decreased by 1.75 times from year to year. That is, the trend of 2014 when the physical import of cars decreased by 39.3 percent intensified. Some 7,511 cars (4,090 cars in January and 3,421 cars in February), including 7,031 (3,870 and 3,161) passenger cars, 339 trucks, 119 buses and 22 special-purpose vehicles were imported in January and February 2015. For comparison, some 13,162 vehicles, including 11,998 cars were imported in January-February 2014.

The vehicles, mechanisms, electrical appliances, equipment in the amount of $337.19 million (a share in total imports - 19.75 percent) were brought to the country.

Thus, the import of ferrous metals ranks second in terms of an import volume in the country during the period. The share of these products in a total import volume of the country hit 10.79 percent in January-February 2015, while this volume was 184.14 million AZN in nominal terms.

The import of meat and butter significantly increased in January-February 2015 (by 2.5 times and 65.57 percent, accordingly compared to January-February 2014) which is related to insufficient domestic production. The cost of grain import increased over twofold.

Main products imported to Azerbaijan

According to the Azerbaijani State Customs Committee, the countries outside the EU and CIS restore their status as the main trading partners of the country due to the US success in January-February. These countries formed the foreign trade turnover of Azerbaijan by 47.1 percent or $1.904 billion, while the EU countries - by 43 percent ($1.737 billion). Only 9.9 percent or $0.401 billion accounted for the CIS.

Azerbaijan's exports to the EU countries amounted to $1.371 billion in January-February, or 58.72 percent of a total export volume amid a 33.9 percent decrease. Imports from EU ($0.367 billion) decreased by 3.8 percent and amounted to 21.48 percent of a total import volume. As a result, the country had a black ink of trade balance with the EU at the level of $1.004 billion. This exceeded the country's foreign trade surplus ($0.627 billion).

The exports to the countries outside the EU and CIS dropped by 43.33 percent - to $0.901 billion in January-February or 38.6 percent of a total export volume, while imports increased by 1.93 times and hit $1.002 billion or 58.7 percent of the total import volume. As a result, Azerbaijan received a $0.101 billion trade surplus with these countries.

The exports to the CIS countries for the period totaled $0.062 billion (2.67 percent of the total export volume) by decreasing by 45.31 percent and imports - $0.338 billion (19.8 percent) by increasing by 17.4 percent. As a result, the country had a red ink in trading with them to the amount of $0.276 billion.

During this period, about 2,590 legal and physical entities were involved in foreign trade operations, including 1,784 - legal entities and 806 - physical entities.

The share of public sector in exports totaled $2.03 billion, private sector - $288.2 million, the share of physical entities - $12.78 million.

The share of public sector in import operations amounted to $456.24 million, the private sector - $1.2 billion, physical entities -$63.14 million.

Azerbaijan's trade operations with foreign countries in January-February 2015

source: Azerbaijani state customs committee