Azerbaijan discloses turnover with its TOP-5 trade partners

BAKU, Azerbaijan, Dec. 23

By Khagan Isayev - Trend:

Azerbaijan's turnover with five main trading partners from January through November 2021 amounted to $18 billion, Trend reports citing a report from the Azerbaijani State Customs Committee.

In the reporting period, Italy retained the status of Azerbaijan's biggest trade partner with a turnover of about $8.5 billion (with a specific weight of 28.23 percent).

Italy is followed by Turkey - over $4.1 billion (13.84 percent), Russia – $2.6 billion (8.79 percent), China – about 1.5 billion (5.27 percent), and Germany –$1.05 million (3.51 percent).

Comparative table of TOP-5 trade partners of Azerbaijan:

During the first 11 months of this year, Azerbaijan purchased most of the products worth over $1.8 billion from Russia (the share in a total import volume is 17.81 percent). It is followed by Turkey - $1.6 billion (15.87 percent), China – around $1.4 billion (13.98 percent), Germany - $576.4 million (5.54 percent) and Ukraine - $419.4 million (4.03 percent).

Meanwhile, Azerbaijan's total foreign trade turnover made up $30.2 billion, up by over $7.4 billion (24.7 percent) on annual basis. Nearly $19.8 billion accounted for export, which is by $6.7 billion (34.03 percent) more than from January through November 2020.

The share of export in the foreign trade turnover reached 65.54 percent.

Azerbaijan's import volume in 11M2021 increased by $724.3 million (6.95 percent) to nearly $10.4 billion years on year.

The share of imports in the foreign trade turnover reached 34.46 percent.

As a result, while remaining positive, the foreign trade balance increased on an annualized basis by $6.01 billion or 35.94 percent to nearly $9.4 billion from January through November 2021.