BAKU, Azerbaijan, July 19. Azerbaijan's trade turnover with 10 main trading partner countries from January through June 2023 amounted to $20.19 billion with an increase of 7.87 percent or $1.07 billion over the year, Trend reports.
The share of the top 10 trading partners in the total Azerbaijani foreign trade turnover reached 77.16 percent.
According to the State Customs Committee of Azerbaijan, in the first six months of this year, Italy retained the status of Azerbaijan's largest trading partner with a turnover of $8.57 billion (a decline of 5.89 percent over the year), followed by Türkiye – more than $3.9 billion (an increase of 34.82 percent in a year), and Russia – $2.16 billion with an increase of 37.67 percent per year.
TOP 10 trading partners of Azerbaijan:
|
From January through June 2023 |
From January through June 2022 |
||||
|
Countries |
Trade turnover |
Share (%) |
Countries |
Trade turnover |
Share (%) |
|
Italy |
$8.57 billion |
32.79 |
Italy |
$9.1 billion |
36.71 |
|
Türkiye |
$3.9 billion |
14.97 |
Türkiye |
$2.9 billion |
11.7 |
|
Russia |
$2.16 billion |
8.27 |
Russia |
$1.5 billion |
6.33 |
|
China |
$1.3 billion |
5.05 |
China |
$959.9 million |
3.87 |
|
Germany |
$855.1 million |
3.27 |
Israel |
$949.89 million |
3.82 |
|
Greece |
$700.78 million |
3.1 |
India |
$895.9 million |
3.61 |
|
India |
$717.1 million |
2.74 |
UK |
$720.4 million |
2.9 |
|
Spain |
$688.2 million |
2.66 |
Greece |
$588 million |
2.37 |
|
Israel |
$646.07 million |
2.47 |
Germany |
$553.5 million |
2.23 |
|
Turkmenistan |
$485.4 million |
1.86 |
Ukraine |
$456.4 million |
1.84 |
Overall, Azerbaijan's foreign trade turnover increased by 5.36 percent or $1.3 billion from January through June 2023 compared to the same period in 2022 (from $24.8 billion to $26.1 billion).
According to the State Customs Committee of Azerbaijan, exports accounted for $17.9 billion in the structure of foreign trade turnover, which is $511.2 million or 2.77 percent less compared to the same period last year.
The share of exports in foreign trade turnover amounted to 68.66 percent against 74.4 percent a year earlier.
Azerbaijan's imports increased by $1.8 billion (28.97 percent) from $6.3 billion to about $8.1 billion during the reporting period.
The share of imports in foreign trade turnover amounted to 31.34 percent against 25.6 percent a year earlier.
As a result, the balance of foreign trade turnover, remaining positive, decreased year-on-year by more than $2.3 billion (19.41 percent) to $9.7 billion during the reporting period against $12.1 billion during the reporting period of 2022.