State Customs Committee discloses TOP-5 trade partners of Azerbaijan

BAKU, Azerbaijan, Dec. 5

By Khagan Isayev - Trend:

Azerbaijan's trade turnover with five main trading partners amounted to $15.3 billion from January through October 2021, Trend reports citing a report from the Azerbaijani State Customs Committee.

Italy during the reporting period retained the status of Azerbaijan's biggest trade partner with a trade turnover of about $7.02 billion (with a specific weight of 26.83 percent).

Thus, Italy is followed by Turkey - over $3.5 billion (13.36 percent), Russia – $2.3 billion (8.96 percent), China – about 1.4 billion (5.52 percent), Germany – about $952.5 million (3.64 percent).

Comparative table of TOP-5 trade partners of Azerbaijan:

During the reporting period, Azerbaijan purchased most of its products worth $1.6 billion from Russia (the share in a total import volume is 17.66 percent). It is followed by Turkey - $1.5 billion (15.94 percent), China – around $1.3 billion (14.02 percent), Germany - $530.6 million (5.69 percent) and the US - $365.8 million (3.92 percent).

Azerbaijan's foreign trade turnover exceeded $26.2 billion, which is by 24.67 percent or $5.2 billion more than in the same period of 2020.

Some $16.8 billion accounted for export in the structure of foreign trade turnover, which is by 37.72 percent or $4.6 billion more than from January through October 2020. The share of export in foreign trade turnover amounted to 64.35 percent.

Azerbaijan's import amounted to about $9.3 billion from January through October 2021, increasing by 6.07 percent, or $567 million compared to the same period of last year. The share of import in foreign trade turnover amounted to 41.74 percent.

The foreign trade balance, remaining positive, increased on an annualized basis by 53.87 percent, or $4.04 billion up to $7.5 billion.

(1 USD = 1.7 AZN on Dec. 5)