BAKU, Azerbaijan, August 19. The trade turnover between Azerbaijan with 10 major trading partners amounted to $26.3 billion from January through August 2022 (an increase of 81.62 percent or $11.8 billion), Trend reports citing the Azerbaijani State Customs Committee (SCC).
According to the committee, Italy retained the status of Azerbaijan's largest trading partner with a turnover of about $13 billion (an increase of 151.57 percent over the year). Türkiye is the second trading partner with more than $3.8 billion (an increase of 34.56 percent over the year) and Russia – $2.1 billion (an increase of 23.43 percent over the year).
Comparative table of TOP-10 trading partners of Azerbaijan:
|
January-August 2022 |
January-August 2021 |
||||
|
Country |
Trade turnover ($) |
Share (percent) |
Country |
Trade turnover ($) |
Share (percent) |
|
Italy |
$11 million |
36.84 |
Italy |
$4.6 million |
26.11 |
|
Türkiye |
$3.3 million |
11.24 |
Türkiye |
$2.5 million |
14.14 |
|
Russia |
$1.8 million |
6.23 |
Russia |
$1.5 million |
8.76 |
|
India |
$1.18 million |
3.94 |
China |
$964,484 |
5.45 |
|
China |
$1.14 million |
3.82 |
Spain |
$557,748 |
3.15 |
|
Israel |
$1 million |
3.48 |
Germany |
$525,761 |
2.97 |
|
UK |
$903,996 |
3.01 |
Croatia |
$498,654 |
2.82 |
|
Greece |
$670,431 |
2.23 |
Georgia |
$480,383 |
2.72 |
|
Germany |
$605,359 |
2.01 |
Israel |
$475,976 |
2.69 |
|
Czech Republic |
$505,346 million |
1.68 |
Ukraine |
$466,942 |
2.64 |
Azerbaijan imported the most products from Russia - $1.653 billion (specific share in total import - 18.65 percent) from January through August 2022. Then Türkiye follows with $1.425 billion (16.07 percent), China - with $1.311 billion (14.79 percent), Germany - with $397.083 million (4.48 percent) and Kazakhstan - with $325.923 million (3.68 percent).
Let us recall that the foreign trade turnover of Azerbaijan from January through August 2022 increased by 73.1 percent, or $14.828 billion compared to the same period last year - from $20.284 billion to $35.112 billion.
Exports accounted for $26.244 billion in foreign trade turnover, up $13.309 billion (102.89 percent) from January through August 2021. The share of exports in foreign trade turnover amounted to 74.74 percent against 63.77 percent the previous year.
Azerbaijan's imports rose by $1.518 billion, or 20.67 percent - from $7.349 billion to $8.868 billion in the reporting period. The share of imports in foreign trade turnover was 25.26 percent against 36.23 percent last year.
As a result, the foreign trade turnover surplus increased year-on-year by more than $11.79 billion, or more than 3.11 times, to $17.376 billion from $5.585 billion from January through August 2021.