BAKU, Azerbaijan, September 18. Azerbaijan's trade turnover with 10 countries (main trade partners) amounted to $27.2 billion from January through August 2023 (up 3.6 percent or $947.7 million over the year), Trend reports.
It should be noted that the specific weight of trade turnover with top-10 trading partners in the total Azerbaijani foreign trade turnover amounted to 76.74 percent
The data of the State Customs Committee of Azerbaijan shows that Italy retained the status of the largest trade partner of Azerbaijan with trade turnover at the level of $11.4 billion (12.51 percent decline for the year). Türkiye followed with more than $5.5 billion (year-on-year growth by 42.4 percent) and Russia with $2.7 billion (year-on-year growth by 26.82 percent).
|
January-August 2023 |
January-August 2022 |
||||
|
Countries |
Turnover |
Share |
Countries |
Turnover |
Share |
|
Italy |
$11.4 billion |
32.11 percent |
Italy |
$13.03 billion |
37.11percent |
|
Türkiye |
$5.5 billion |
15.57 percent |
Türkiye |
$3.8 billion |
11.06 percent |
|
Russia |
$2.7 billion |
7.85 percent |
Russia |
$2.1 billion |
6.26 percent |
|
China |
$1.9 billion |
5.52 percent |
India |
$1.5 billion |
4.35 percent |
|
Greece |
$1.14 billion |
3.24 percent |
China |
$1.3 billion |
3.84 percent |
|
Israel |
$1.11 billion |
3.14 percent |
Israel |
$1.2 billion |
3.43 percent |
|
Germany |
$1.068 billion |
3.01 percent |
The UK |
$936.4 million |
2.67 percent |
|
India |
$809.8 million |
2.28 percent |
Greece |
$875.6 million |
2.49 percent |
|
Spain |
$787.3 million |
2.22 percent |
Germany |
$670.4 million |
1.91 percent |
|
Turkmenistan |
$644.7 million |
1.82 percent |
Czechia |
$624.7 million |
1.78 percent |
Azerbaijan's foreign trade turnover from January through August 2023 increased by 1.12 percent, or $392.1 million, year-on-year from $35.1 billion to $35.5 billion.
The data of the State Customs Committee of Azerbaijan shows that exports accounted for $24.3 billion in the structure of foreign trade turnover, which is $1.89 billion or 7.2 percent less year-on-year. The share of exports in the foreign trade turnover amounted to 68.59 percent, compared to 74.74 percent a year earlier.
Azerbaijan's imports in the reporting period increased by $2.2 billion, or 25.73 percent, year-on-year from $8.8 billion to about $11.15 billion. The share of imports in the foreign trade turnover amounted to 31.41 percent, compared to 25.26 percent a year earlier.
As a result, the balance of foreign trade turnover, while remaining positive during the review period, declined year-on-year by over $4.1 billion, or 24.01 percent, to $13.2 billion against $17.3 billion in the 2022 review period.