BAKU, Azerbaijan, May 24. Azerbaijan's trade turnover with the top 10 countries (main trade partners) from January through April 2024 amounted to $10.01 billion, representing a 27.95 percent, or $3.885 billion, decrease over the year, Trend reports.
The share of trade turnover with the top 10 trading partners in the total Azerbaijani foreign trade turnover amounted to 73.48 percent.
According to the State Customs Committee of Azerbaijan, Italy retained the status of the largest trade partner of Azerbaijan, with trade turnover at the level of $3.04 billion, a drop of 48.52 percent over the year. It is followed by Türkiye with over $2.04 billion (a 21.19 percent decrease over the year) and Russia with $1.31 billion (5.68 percent decrease over the year).
| From January through April 2024 | From January through April 2023 | ||||
| Country | Trade turnover | Share in total turnover, % | Country | Trade turnover | Share in total turnover, % |
| Italy | 3.04 billion | 22.32 | Italy | 5.91 billion | 33.05 |
| Türkiye | 2.03 billion | 14.95 | Türkiye | 2.58 billion | 14.46 |
| Russia | 1.3 billion | 9.60 | Russia | 1.38 billion | 7.76 |
| China | 1.03 billion | 7.61 | China | 814.49 million | 4.55 |
| Israel | 634.8 million | 4.66 | India | 612.8 million | 3.43 |
| India | 582.2 million | 4.27 | Greece | 585.2 million | 3.27 |
| Germany | 552.1 million | 4.05 | Germany | 578.93 million | 3.24 |
| Australia | 293.37 million | 2.15 | Spain | 561.8 million | 3.14 |
| Czechia | 290.960 million | 2.13 | Israel | 511.5 million | 2.86 |
| Romania | 238.28 million | 1.75 | Georgia | 355.66 million | 1.99 |
To note, Azerbaijan's foreign trade turnover from January through April 2024 decreased by 23.76 percent, or $4.25 billion, compared to the same period in 2023 (from $17.88 billion to $13.63 billion).
Within the foreign trade turnover structure, exports totaled $8.17 billion, marking a decrease of $4.4 billion, or 35.09 percent, compared to the corresponding period last year. Export's share in the foreign trade turnover stood at 59.92 percent, down from 70.37 percent recorded a year earlier.
Azerbaijan's imports for the reported period saw a year-on-year increase of $166.9 million, or 3.15 percent, rising from $5.3 billion to approximately $5.46 billion. Imports' share in the foreign trade turnover amounted to 40.08 percent, compared to 29.63 percent in the previous year.
Consequently, although maintaining a positive balance in the foreign trade turnover, there was a year-on-year decline of over $4.58 billion, or 62.9 percent, resulting in a total of $2.7 billion compared to $7.28 billion in the review period of 2023.