Azerbaijan’s foreign trade operations decrease in 2016

Business Materials 18 January 2017 09:33 (UTC +04:00)

Baku, Azerbaijan, Jan. 18
By Anvar Mammadov - Trend:

Azerbaijan's foreign trade partners numbered 186 countries in 2016 compared to 165 countries in 2015, the Azerbaijani State Customs Committee said in a report.

Around 14,055 legal entities and individuals were involved in foreign economic activities during the reporting period, 5,435 being legal entities and 8,620 individuals, according to the report.

Azerbaijan’s foreign trade operations decreased by 19.46 percent and reached $17.68 billion in 2016 compared to 2015.

A trade surplus at $610.83 million was observed in Azerbaijan in 2016. The balance of trade surplus at $2.2 billion was observed in the country as of 2015.

Exports reached almost $9.14 billion, decreasing by 28.17 percent for the year.

The public sector share in export operations reached $7.22 billion, the private sector share – over $1.66 billion and individuals’ share- $264.28 million.

Imports exceeded $8.53 billion, which is by 7.42 percent less compared to 2015.

The public sector share in import operations reached $1.23 billion, private sector share- $6.81 billion and individuals’ share - $489.12 million.

Around 2,921 kinds of goods were exported from Azerbaijan and 7,328 imported to Azerbaijan in 2016.