BAKU, Azerbaijan, November 27. Azerbaijan's trade turnover with 10 countries (main trade partners) amounted to $32.8 billion from January through October 2023 (down 5.11 percent or $1.7 million over the year), Trend reports.
The weight of trade turnover with the top ten trading partners in total Azerbaijani international trade turnover was 75.37 percent.
According to data from Azerbaijan's State Customs Committee, Italy remains Azerbaijan's largest trade partner, with a trade turnover of $13.5 billion (a 22.21 percent decrease year on year). Turkey came in second with more than $6.7 billion (a 33.39 percent increase year on year) and Russia came in third with $3.4 billion (a 20.06 percent increase year on year).
|
January-October 2023 |
January-October 2022 |
||||
|
Countries |
Turnover |
Share |
Countries |
Turnover |
Share |
|
Italy |
$13.5 billion |
31.02 percent |
Italy |
$17.3 billion |
37.48 percent |
|
Türkiye |
$6.7 billion |
15.50 percent |
Türkiye |
$5 billion |
10.92 percent |
|
Russia |
$3.4 billion |
7.91 percent |
Russia |
$2.8 billion |
6.19 percent |
|
China |
$2.5 billion |
5.92 percent |
India |
$1.76 billion |
3.82 percent |
|
Germany |
$1.39 billion |
3.21 percent |
China |
$1.74 billion |
3.77 percent |
|
Israel |
$1.35 billion |
311 percent |
Israel |
$1.5 billion |
3.32 percent |
|
Greece |
$1.2 billion |
2.88 percent |
The UK |
$1.3 billion |
2.97 percent |
|
India |
$994 million |
2.28 percent |
Greece |
$980.3 million |
2.12 percent |
|
Spain |
$13.5 billion |
31.02 percent |
Germany |
$17.3 billion |
37.48 percent |
|
Georgia |
$6.7 billion |
15.50 percent |
Czechia |
$5 billion |
10.92 percent |
From January to October 2023, Azerbaijan's foreign trade turnover fell by 6 percent, or $2.7 billion, from $46.2 billion to $43.5 billion.
Exports accounted for $29.3 billion of foreign trade transaction, a decrease of $5.3 billion or 15.46 percent over the same period last year. Exports accounted for 67.43 percent of total foreign trade turnover, down from 74.97 percent the previous year.
From January to October 2023, Azerbaijan's imports climbed by $2.5 billion, or 22.32 percent, from $11.5 billion to around $14.1 billion. Imports accounted for 32.57 percent of total foreign trade turnover, up from 25.03 percent the previous year.
As a result, while the international trade balance remained positive from January to October 2023, it decreased by more than $7.9 billion, or 34.39 percent, year on year to $15.1 billion from $23.1 billion from January to October 2022.