Italy remains Azerbaijan’s main trade partner

Economy Materials 18 November 2015 11:41 (UTC +04:00)

Baku, Azerbaijan, Nov.18

By Anvar Mammadov - Trend:

Between January and October 2015, Italy maintained its first place in the list of foreign trade partners of Azerbaijan with a trade turnover of $2.38 billion, accounting for 13.84 percent of the country's total trade volume, according to a statistic report from Azerbaijani State Customs Committee (SCC).

The list of Azerbaijan's foreign trade partners, posted on the SCC website, further includes Germany with a turnover of $1.67 billion (9.69 percent), Russia - $1.53 billion (8.92 percent), Turkey - $1.18 billion (6.85 percent), the US - $1.06 billion (6.16 percent).

In October, no changes occurred in the TOP 5 Azerbaijani foreign trade partners.

These countries' share in the total trade turnover of Azerbaijan was 45.46 percent.

In the reporting period, the largest volume of Azerbaijan's export also accounted for Italy. In January-October, goods worth $1.97 billion were exported to this country, accounting for 20.19 percent of Azerbaijan's total export.

Leading places in exports are held by Germany ($1.08 billion with a specific weight of 11.1 percent), France ($662.87 million or 6.79 percent), Israel ($628.39 million or 6.44 percent), and Indonesia ($477.79 million or 4.89 percent).

In October, the Czech Republic, which occupied the fifth position in September, fell to sixth place, while Indonesia entered the TOP-5.

The share of these countries in the overall export of Azerbaijan is 49.41 percent.

Between January and October 2015, the top five countries in terms of the largest import volumes included Russia ($1.21 billion), which accounted for 16.3 percent of Azerbaijani imports.

Further on the list are: Turkey with a turnover of $918.54 million (12.34 percent), the US - $743.58 million (9.99 percent), Germany - $583 million (7.84 percent), and Japan - $476.37 million (6.4 percent).

In October, the list of Azerbaijan's top five import partners remained unchanged.

The share of these countries in total import in Azerbaijan is 52.87 percent.

Between January and October 2015, the foreign trade operations of Azerbaijan reduced by 35.21 percent to 17.21 billion Azerbaijani manats as compared to the same period of last year.

Export operations worth $9.76 billion were carried out in the reporting period, and Azerbaijan's imports stood at $7.44 billion.