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Azerbaijan's trade turnover with European countries more than doubles

Economy Materials 18 April 2022 19:23 (UTC +04:00)
Azerbaijan's trade turnover with European countries more than doubles
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, April 18. The trade turnover between Azerbaijan with European countries exceeded $5.624 billion in the first quarter of 2022, while the share of these countries in Azerbaijan’s total foreign trade turnover amounted to 80.37 percent, Trend reports citing the bulletin of the Azerbaijani State Customs Committee (SCC).

Comparative table of trade turnover between Azerbaijan and European countries:

January through March 2022

January through March 2022

Country

Export ($)

Share (percent)

Country

Import ($)

Share (percent)

Italy

$3.89 million

48.8

Italy

$68,764

2.35

Greece

$282,050

3.53

Greece

$5,960

0.2

Portugal

$390,618

4.89

Portugal

$2,395

0.08

Czech Republic

$89,632

1.12

Czech Republic

$8,329

0.28

Spain

$101,044

1.27

Spain

$15,404

0.53

Romania

$117,963

1.48

Romania

$25,650

0.88

Austria

$56,033

0.7

Austria

$14,514

0.5

Germany

$115,242

1.44

Germany

$129,780

4.43

Ireland

$50,066

0.63

Ireland

$5,545

0.19

Bulgaria

$26,344

0.33

Bulgaria

$11,607

0.4

Holland

$15,276

0.19

Holland

$18,742

0.64

Luxembourg

$8,607

0.11

Luxembourg

$873.11

0.03

Sweden

$5,331

0.07

Sweden

$13,980

0.48

Lithuania

$2,463

0.03

Lithuania

$4,659

0.16

Latvia

$735.47

0.01

Latvia

$4,052

0.14

France

$521.21

0.01

France

$41,319

1.41

Estonia

$420.44

0.01

Estonia

$2,016

0.07

Hungary

$338.57

-

Hungary

$9,335

0.32

Belgium

$149.29

-

Belgium

$19,732

0.67

Finland

$82.04

-

Finland

$6,113

0.21

Malta

$74.62

-

Malta

$31.67

-

Cyprus

$8,403

0.11

Cyprus

$571.43

0.02

Slovakia

$158.43

-

Slovakia

$10,800

0.37

Slovenia

$80.4

-

Slovenia

$4,109

0.14

Croatia

-

-

Croatia

$5,253

0.18

Denmark

-

-

Denmark

$2,752

0.09

Poland

$969.74

0.01

Poland

$25,138

0.86

Total

$5.16 million

64.74

Total

$457,436

15.63

In the reporting period, Azerbaijan's trade turnover with European countries grew by 129.91 percent, or $3.178 million on an annual basis. The share of these states in Azerbaijan’s overall import and export operations has risen by 13.83 percent, up to 80.37 percent.

Moreover, the country’s foreign trade turnover increased by 63.58 percent, or $4.239 billion in January through March 2022 compared to the same period in 2021, from $6.668 billion to $10.908 billion.

Some $7.98 billion accounted for exports in the structure of foreign trade turnover, up by $3.843 billion compared to the same period last year. The share of exports in foreign trade turnover totaled 73.17 percent against 62.05 percent a year earlier.

Azerbaijan's imports grew by $396.693 million, or by 15.68 percent during this period, from $2.53 billion to $2.927 billion. The share of imports in foreign trade turnover reached 26.83 percent against 37.95 percent a year earlier.

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