...

Azerbaijan comes down with its trade turnover with key partners

Economy Materials 27 November 2023 13:58 (UTC +04:00)
Azerbaijan comes down with its trade turnover with key partners
Kamran Gasimov
Kamran Gasimov
Read more

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.

Tags:
Latest

Latest