Azerbaijan reduces import by almost 19%

Business Materials 17 June 2016 09:46 (UTC +04:00)

Baku, Azerbaijan, June 17

By Anvar Mammadov - Trend:

The volume of Azerbaijan's foreign trade operations reduced by 31.78 percent and amounted to $6.38 billion in January-May 2016 as compared to the same period of 2015, the country's State Customs Committee (SCC) said.

The negative balance of $281.47 million was observed in Azerbaijan's foreign trade operations during the reporting period, compared to the surplus of $1.2 billion in the same period of 2015.

Moreover, 155 countries were Azerbaijan's foreign trade partners in January-May 2016.

Some 7,506 individuals and legal entities (3,597 - legal entities and 3,909 - individuals) were involved in Azerbaijan's foreign economic activity in January-May 2016, according to the SCC.

The export volume amounted to $3.05 billion (decline by 42.26 percent for the year), said the SCC.

The state sector's share in export amounted to about $2.65 billion, the private sector - $323.61 million, individuals - $78.06 million.

Azerbaijan's import reached $3.33 billion, which is by 18.19 percent less than in January-May of 2015, said the SCC.

The state sector's share in import operations amounted to $568.15 million, the private sector - $2.57 billion, individuals - $189.76 million, according to the SCC.

Azerbaijan exported 1,826 kinds of goods and imported - 6,297 kinds of goods in January-May 2016.