BAKU, Azerbaijan, July 1. Azerbaijan's trade turnover with 10 main trading partners considerably grew from January through May 2022, Trend reports citing a report by State Customs Committee.
According to the committee, this figure amounted to $15.1 billion, up by 74.6 percent on annual basis.
Italy retained the status of Azerbaijan's largest trade partner during the first five months of this year, with a trade turnover of about $7.69 billion (growth by 2.66 times over the year).
Türkiye ranked second with $2.45 billion (increase by 31.37 percent compared to 5M2021) and Russia - third with $1.23 billion (rise by 16.97 percent).
Comparative table of the top 10 trading partners of Azerbaijan:
|
5M2022 |
5M2021 |
||||
|
Countries |
Turnover |
Share |
Countries |
Turnover |
Share |
|
Italy |
$7.69 billion |
37.44 percent |
Italy |
$2.8 billion |
24.42 percent |
|
Türkiye |
$2.45 billion |
11.94 percent |
Türkiye |
$1.8 billion |
15.8 percent |
|
Russia |
$1.23 million |
6.03 percent |
Russia |
$1.05 billion |
8.96 percent |
|
India |
$871.14 million |
4.24 percent |
China |
$677.9 million |
5.74 percent |
|
Israel |
$871 million |
4.24 percent |
India |
$417 million |
3.53 percent |
|
China |
$778.5 million |
3.79 percent |
Georgia |
$379 million |
3.21 percent |
|
UK |
$561.5 million |
2.73 percent |
Ukraine |
$373.5 million |
3.16 percent |
|
Germany |
$497.1 million |
2.42 percent |
Spain |
$371 million |
3.14 percent |
|
Greece |
$486.7 million |
2.37 percent |
Germany |
$333.2 million |
2.82 percent |
|
Portugal |
$433.5 million |
2.11 percent |
Israel |
$287.8 million |
2.44 percent |
In the first five months of this year, Azerbaijan imported most of products from Russia - by $968 million (the share in total imports was 18.85 percent). Russia was followed by Türkiye - $851.8 million (16.59 percent), China - $762.8 million (14.85 percent), Kazakhstan - $231.3 million (4.5 percent) and Germany - $225.4 million (4.39 percent).
During the reporting period, Azerbaijan's foreign trade turnover totally increased by $8.7 billion (73.87 percent) compared to the same period of last year - from $11.82 billion to $20.5 billion.
Exports accounted for $15.4 billion in the structure of foreign trade turnover for 5M2022, which is $7.9 billion (107.57 percent) more than from January through May 2021. The share of exports in foreign trade turnover amounted to 75.01 percent against 62.83 percent a year earlier.
Meanwhile, Azerbaijan's imports increased by $724.6 million (16.91 percent) from $4.3 billion to $5.13 billion. The share of imports in foreign trade turnover amounted to 24.99 percent against 37.17 percent recorded in 5M2021.