BAKU, Azerbaijan, March 18. Azerbaijan's trade turnover with 10 countries (main trade partners) from January through February 2024 amounted to $5.45 billion (up 4.31 percent or $225.145 million over the year), Trend reports.
Meanwhile, the share of trade turnover with the top 10 trade partners in the total Azerbaijani foreign trade turnover amounted to 75.42 percent.
According to Azerbaijan's State Customs Committee, Italy retained the status of the largest trade partner of Azerbaijan, with trade turnover at the level of $1.8 billion (30.94 percent growth for the year). Türkiye followed with more than $979.6 million (year-on-year growth of 9.41 percent) and Russia with $591.2 million (year-on-year decline of 22.36 percent).
| January-February 2024 |
|
|||||||
| Countries | Turnover ($) | Share in total turnover | Countries | Turnover ($) | Share in total turnover | |||
| Italy | 1 828 329 690 | 25,30 percent | Italy | 1 396 304 780 | 19,47 percent | |||
| Türkiye | 979 604 700 | 13,56 percent | Türkiye | 895 388 720 | 12,49 percent | |||
| Russia | 591 254 100 | 8,18 percent | Russia | 761 547 770 | 10,62 percent | |||
| Israel | 536 988 220 | 7,43 percent | China | 400 962 860 | 5,59 percent | |||
| China | 483 281 990 | 6,69 percent | Israel | 378 796 590 | 5,28 percent | |||
| India | 395 700 930 | 5,48 percent | Spain | 334 136 930 | 4,66 percent | |||
| Thailand | 213 793 610 | 2,96 percent | Romania | 289 377 590 | 4,04 percent | |||
| Germany | 170 281 740 | 2,36 percent | France | 270 008 540 | 3,77 percent | |||
| Georgia | 127 342 440 | 1,76 percent | India | 257 363 550 | 3,59 percent | |||
| US | 123 845 110 | 1,71 percent | Czech Republic | 241 389 370 | 3,37 percent | |||
To note, Azerbaijan's foreign trade turnover from January through February 2024 increased by 0.77 percent, or $55.1 million, compared to the indicator for the same period in 2023, from $7.1 billion to $7.2 billion.
Exports accounted for $4.7 billion in the structure of foreign trade turnover, which was $259.5 million, or 5.74 percent more than the figure for the same period last year. The share of exports in the foreign trade turnover amounted to 66.14 percent, up from 63.03 percent a year earlier.
Azerbaijan's imports in the reporting period decreased year-on-year by $204.347 million, or 7.71 percent, from $2.6 billion to about $2.4 billion. The share of imports in the foreign trade turnover amounted to 33.86 percent, up from 36.97 percent a year earlier.
Consequently, the foreign trade balance, while remaining positive during the period under review, grew year-on-year by over $463.8 million, or 24.81 percent, to $2.3 billion from $1.8 billion in the 2023 review period.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel