BAKU, Azerbaijan, January 26. Azerbaijan's total trade turnover with its top ten trading partners increased from January through December 2022, Trend reports via the Azerbaijani State Customs Committee.
According to the committee, this figure amounted to $38.2 billion, up by $13.7 billion (56.16 percent) year over year (YoY).
In the reporting period, Italy ranks first among Azerbaijan's trading partners with a turnover of $18.1 billion (a growth of 87.55 percent YoY), followed by Türkiye with a turnover of over $5.8 billion (a growth of 25.32 percent YoY) and Russia – $3.71 billion (up by 23.88 percent YoY).
TOP 10 trading partners of Azerbaijan:
|
from January through December 2022 |
from January through December 2021 |
||||
|
Country |
Trade turnover ($) |
Share (percent) |
Country |
Trade turnover ($) |
Share (percent) |
|
Italy |
18.1 billion |
34.4 |
Italy |
9.6 billion |
28.49 |
|
Türkiye |
5.8 billion |
11.09 |
Türkiye |
4.6 billion |
13.75 |
|
Russia |
3.7 billion |
7.04 |
Russia |
2.9 billion |
8.83 |
|
China |
2.1 billion |
4.1 |
China |
1.7 billion |
5.25 |
|
India |
1.8 billion |
3.57 |
Germany |
1.2 billion |
3.79 |
|
Israel |
1.7 billion |
3.26 |
Israel |
928.4 million |
2.74 |
|
Greece |
1.4 billion |
2.7 |
Ukraine |
922.4 million |
2.72 |
|
Germany |
1.2 billion |
2.38 |
Georgia |
763.6 million |
2.25 |
|
Spain |
1.1 billion |
2.09 |
Croatia |
754.6 million |
2.23 |
|
United Kingdom |
1.03 billion |
1.97 |
India |
739.1 million |
2.18 |
Azerbaijan’s highest import value accounted for Russia – $2.7 billion (with a share of 18.81 percent in total imports) in the reporting period. Russia is followed by Türkiye with $2.9 billion (15.8 percent), China – $2.08 billion (14.35 percent), Germany – $663.5 million (4.56 percent) and Turkmenistan – $509.7 million (3.51 percent).
Azerbaijan's foreign trade turnover totaled $52.6 billion in 2022, up by $18.7 billion (55.36 percent) on an annual basis - from $33.9 billion to $52.6 billion.
Out of the total value, $38.1 billion accounted for exports, which is $15.94 billion (71.8 percent) more than in 2021. The share of exports in the foreign trade turnover made up 72.4 percent against 65.48 percent a year earlier.
Azerbaijan's imports last year increased by $2.8 billion (24.21 percent) from $11.7 billion to $14.54 billion compared to 2021. The share of imports in foreign trade turnover amounted to 27.6 percent against 34.52 percent a year earlier.
As a result, the balance of foreign trade turnover, remaining positive, grew over the year by more than $13.1 billion (2.2 times) to $23.6 billion against $10.5 billion in 2021.