Foreign trade of Azerbaijan (January-October 2015 )

The foreign trade turnover with 158 world countries amounted to $17.21 billion in January-October 2015, or 35.21 percent less than in January-October 2014. The volume of exports decreased by 49.13 percent and amounted to $9.76 billion compared to January-October 2014. The volume of import increased by 1.08 percent and amounted to $7.44 billion.

Azerbaijan exported 2,333 goods and imported 6,005 different goods.

As of January-October 2015, the nominal index of export exceeded import. This formed the foreign trade surplus to the amount of $2.32 billion.

The country's foreign trade surplus exceeded $11.83 billion in January-October 2014.

At the same time, the exports amounted to $995.04 million, while imports - $862.23 million in October 2015. As a result, a foreign trade surplus worth almost $132.81 million was formed in October.

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

Main products exported from Azerbaijan

Source: Azerbaijani state customs committee

Most of Azerbaijan's exports as of January-October 2015 (77.72 percent) fell to the export of crude oil. During the reporting period, the country exported oil worth $7.58 billion. The cost of crude oil exports decreased by 53.43 percent compared to January-October 2014. This is connected with a decrease in the world oil prices.

Currently, SOCAR supplies oil from Azerbaijan to about 30 countries in Europe, Asia and America. Among its largest European importers are Italy (23 percent), Germany (11 percent), France (9 percent).

SOCAR's share in total exports of Azerbaijani oil is about 70 percent.

The physical export of oil products from the country and export proceeds decreased in October 2015 compared to September. The export of oil products from the country amounted to 1.822 million tons worth $645.04 million in January-October 2015. This is by 45.5 percent less than the export for the same period of 2014 ($1.184 billion).

The export growth was 4.8 percent from year to year. The export of oil products ensured 6.61 percent of the country's total exports in January-October.

The export of gas from Azerbaijan (according to the meters) decreased by 2.67 percent in January-October. The gas supplied for export, according to the meters, amounted to 6.760 billion cubic meters in January-October 2015 compared to 6.945 billion cubic meters in January-October 2014.

Azerbaijan also supplied 1.754 million tons of gas condensate compared to 1.826 million in January-October 2014 via BTC oil pipeline.

Azerbaijan exported 248.07 million kilowatt / hours of electricity upon customs declarations in January-October 2015 compared to 498 million kilowatts / hours exported in the same period in 2014. Azerbaijan exported electricity worth $14.73 million in January-October 2015 compared to $25.54 million for the same period in 2014.

The exports of chemical products reached $72.09 million in January-October or 0.77 percent of total exports. It increased by 29.22 percent compared to the same period of 2014.

In this period, the largest amount of export fell on Italy in January-September 2015. Thus, during this period Azerbaijan exported goods totaling $1.97 billion to Italy which makes up 20.19 percent of a total export volume. Oil and oil products are mainly exported to this country.

Germany ($1.083 billion) and France $662.86 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.

Russia ranks first on largest import volume ($1.071 billion) in January-October 2015. About $1.212 billion (16.30 percent) of the Azerbaijani imports fell to it. Turkey ranks second - $918.53 million and the US - third ($743.58 million).

Most of Azerbaijan's imports or 24.86 percent in the reporting period fell to the import of machinery, mechanisms, equipment, electrical equipment and spare parts. The machinery and equipment worth $1.84 billion were imported in January-October 2014, which is by 10.11 percent less than in January-October 2014.

Many vehicles and spare parts worth $1.08 billion (a share in total imports - 14.63 percent) were supplied to the country. The car imports increased twofold (170.84 percent) compared to the same period of 2014.

However, despite an increase in the value of imports of these products, Azerbaijan reduced the import of cars twofold.

Some 24,219 cars were imported to Azerbaijan in January-October 2015 compared to 52,086 cars imported in the same period of 2014.

Some 21,497 vehicles of the total number of vehicles imported in January-October 2015 accounted for the cars and motor vehicles. Some 47,379 cars and motor vehicles were imported into the country in January-October 2014. Moreover, some 1,750 trucks were imported to Azerbaijan in January-October 2015 (4,125 trucks in January-October 2014). The rest import accounted for other types of vehicles.

Azerbaijan passed to the Euro-4 ecological standard. That's why, the car supply volumes declined. It has been used since April 1, 2014. The introduction of Euro 4 standard greatly limits the import of used vehicles. Most of vehicles imported from Georgia to Azerbaijan accounted for the used cars.

The import of ferrous metals ranks third 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 17.69 percent in January-October 2015, while this volume was 1.31 billion manat in nominal terms or by 70.20 percent more than in 2014.

The import of wood and wood products significantly increased in January-October 2015 (by 84.16 percent compared to January-October 2014). This is associated with an increase in its using in the construction and reconstruction work in the country.

Main products imported to Azerbaijan

source: Azerbaijani state customs committee

According to the Azerbaijani State Customs Committee, the countries-non-EU and CIS members did not restore their status as the main trading partners of the country in January-August. These countries formed the foreign trade turnover of Azerbaijan by 41.3 percent or $7.104 billion, while the EU countries - by 46.8 percent ($7.104 billion). Only 11.9 percent or $2.047 billion accounted for the CIS.

Azerbaijan's exports to the EU countries amounted to $5.784 billion in January-October, or 59.2 percent of a total export volume amid a 43.6 percent decrease. Imports from EU ($2.270 billion) decreased by 10.6 percent and amounted to 30.5 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 $3.514 billion. This exceeded the country's foreign trade surplus ($2.324 billion).

The exports to the countries-non-EU and CIS members dropped by 56.6 percent - to $3.573 billion in January-October or 36.6 percent of a total export volume, while imports increased by 11.5 percent and hit $3.530 billion or 47.5 percent of the total import volume. As a result, Azerbaijan received a $0.043 billion red ink with these countries.

The exports to the CIS countries for the period totaled $0.407 billion (4.17 percent of the total export volume) by decreasing by 43 percent and imports - $1.640 billion (22.4 percent) by decreasing by 0.9 percent. As a result, the country had a red ink in trading with them to the amount of $1.233 billion.

During this period, about 6,355 legal and physical entities were involved in foreign trade operations, including 3,340 - legal entities and 3,015 - physical entities.

The share of public sector in exports totaled $8.65 billion, private sector - $954.94 million, the share of physical entities - $155.53 million.

The share of public sector in import operations amounted to over $1.28 billion, the private sector - $5.88 billion, physical entities -$285.67 million.

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

source: Azerbaijani state customs committee