BAKU, Azerbaijan, August 23. Azerbaijan's trade turnover with 10 main trading partners amounted to $23.3 billion (an increase of 3.88 percent or $868.2 million over the year) from January through July 2023, Trend reports.
The share of trade turnover with the top 10 trading partners in the total Azerbaijani foreign trade turnover amounted to 76.67 percent.
According to the State Customs Committee of Azerbaijan, Italy retained the status of Azerbaijan's largest trading partner during the specified period with a turnover of $9.6 billion (a decline of 13.45 percent over the year).
Ranking followed by: Türkiye – more than $ 4.7 billion (an increase of 40.52 percent over the year) and Russia – $ 2.4 billion (an increase of 30.57 percent over the year).
Comparative table of the top 10 trade partners of Azerbaijan:
|
January-July 2023 |
January-July 2023 |
||||
|
Countries |
Turnover |
Share |
Countries |
Turnover |
Share |
|
Italy |
$9.6 billion |
31.60 percent |
Italy |
$11.1 billion |
36.84 percent |
|
Türkiye |
$4.7 billion |
15.65 percent |
Türkiye |
$3.4 billion |
11.24 percent |
|
Russia |
$2.4 billion |
8.06 percent |
Russia |
$1.9 billion |
6.23 percent |
|
China |
$1.6 billion |
5.34 percent |
India |
$1.2 billion |
3.94 percent |
|
Germany |
$9.8 billion |
3.22 percent |
China |
$1.1 billion |
3.82 percent |
|
Greece |
$956.6 million |
3.15 percent |
Israel |
$1 billion |
3.48 percent |
|
Israel |
$840.9 million |
2.77 percent |
The UK |
$903.9 million |
3.01 percent |
|
India |
$789 .5 $million |
2.60 percent |
Greece |
$670.4 million |
2.23 percent |
|
Spain |
$723.3 million |
2.38 percent |
Germany |
$605.4 million |
2.01 percent |
|
Czechia |
$572.5 million |
1.89 percent |
Czechia |
$505.3 million |
1.68 percent |
Azerbaijan's foreign trade turnover increased by 0.91 percent ($274.5 million) from January through July 2023 compared to the same period in 2022 - from $30.1 billion to $30.3 billion.
According to the State Customs Committee of Azerbaijan, exports accounted for $20.7 billion in the structure of foreign trade turnover, which is $1.8 billion (7.92 percent) less year-on-year. The share of exports in the foreign trade turnover amounted to 68.5 percent against 75.07 percent a year earlier.
Moreover, Azerbaijan's imports in the reporting period grew by $2.1 billion (27.52 percent) year-on-year which is from $7.5 billion to about $9.6 billion. The share of imports in the foreign trade turnover amounted to 31.5 percent against 24.93 percent a year earlier.
As a result, the balance of foreign trade, while remaining positive from January through July 2023, declined year-on-year by over $3.9 billion (25.55 percent) to $11.2 billion compared to $15.1 billion year-on-year.