BAKU, Azerbaijan, February 15. Azerbaijan's total trade turnover with its top ten trading partners totaled $2.45 billion in January 2023, which is 23.78 percent, or $766.09 million less that in the same month of 2022, Trend reports via the Azerbaijani State Customs Committee.
In the reporting period, Italy ranks first among Azerbaijan's trading partners with a turnover of $652.6 million (a decrease of 58.36 percent YoY), followed by Türkiye with a turnover of over $401.5 million (a decrease of 9.71 percent YoY) and Russia – $336.2 million (up by 62.42 percent YoY).
TOP 10 trading partners of Azerbaijan:
|
January 2023 |
January 2022 |
||||
|
Country |
Trade turnover ($) |
Share (percent) |
Country |
Trade turnover ($) |
Share (percent) |
|
Italy |
652.6 million |
19.84 |
Italy |
1.5 billion |
38.59 |
|
Türkiye |
401.5 million |
12.21 |
Türkiye |
444.6 million |
10.95 |
|
Russia |
336.2 million |
10.22 |
Ukraine |
235.5 million |
5.80 |
|
Israel |
237.9 million |
7.23 |
Russia |
207.05 million |
5.10 |
|
China |
192.2 million |
5.84 |
Israel |
154.6 million |
3.81 |
|
France |
186.2 million |
5.66 |
China |
147.6 million |
3.64 |
|
Germany |
160.6 million |
4.88 |
United Kingdom |
145.9 million |
3.59 |
|
India |
107.4 million |
3.27 |
Kazakhstan |
125.1 million |
3.08 |
|
Vietnam |
92.05 million |
2.8 |
Germany |
102.1 million |
2.51 |
|
Czech Republic |
88.9 million |
2.7 |
Czech Republic |
91.8 million |
2.26 |
Azerbaijan's foreign trade turnover decreased by 19 percent, or $772 million, in January 2023 compared to the same month in 2022, from $4.061 billion to $3.289 billion.
According to the committee, in the structure of foreign trade turnover, exports accounted for $1.877 billion, which is $1.21 billion, or 1.64 times less than in the same month of 2022. The share of exports in foreign trade turnover was 57.06 percent, against 76 percent a year earlier.
Azerbaijan's imports in the reporting month increased by $437.83 million, or 44.9 percent on an annual basis, from $974.86 million to over $1.412 billion. The share of imports in foreign trade turnover amounted to 42.94 percent, against 24 percent a year earlier.
As a result, during the reporting month, the balance of foreign trade turnover, while remaining positive, decreased year-on-year by more than $1.648 billion, or 3.5 times, to $464 million against $2.112 billion in January 2022.