Azerbaijan's foreign trade turnover sees major growth

Business Materials 1 July 2011 11:12 (UTC +04:00)

Azerbaijan, Baku, July 1 / Trend A.Akhundov /

Azerbaijan's foreign trade turnover in 2010 increased 20.6 times compared to 1993, Azerbaijani State Statistics Committee Head Arif Veliyev said at a scientific symposium on "Independent Azerbaijan's Development in Figures."

"Azerbaijan's foreign trade amounted to $1.4 billion in 1993, while in 2010 it increased to $27.9 billion", Veliyev said.

The number of trading partners with Azerbaijan also increased, he added.

"Azerbaijan has established trade relations with 60 countries; import and export operations were carried out with 147 states in 2010," Veliyev said.

He said the implementation of effective and sustained measures in Azerbaijan to liberalize foreign trade creates favorable conditions for the national economy's integration into the global economic system.

The total volume of the country's trade turnover made $14.073 billion, or 32.98 percent, more compared to the corresponding period in 2010, the State Customs Committee said.
Black ink has reached $7.093 billion in foreign trade operations.

Azerbaijan's export operations amounted to $10.583 billion, or 29.43 percent more compared to the same period in 2010. Imports amounted to $3.49 billion, or 45.06 percent more compared to the corresponding period in 2010.

Public sector shares in exports amounted to $10.11 billion (95.5 percent), private sector - 0.44 $billion (4.2 percent), and $33.02 million (0.3 percent) in the independent sector.
The value of Azerbaijan's import market was $3.49 billion, up 45.06 percent from the corresponding period in 2010.
The share of public sector imports was $1.257 billion (36 percent), private sector - $2.066 billion (59.2 percent) and individual -$166.4 million (4.8 percent).