Five countries make over 52% of Azerbaijan’s turnover

Baku, Azerbaijan, July 10

By Anvar Mammadov – Trend:

Azerbaijan’s trade turnover with five main trade partners reached 4.54 billion manats in January-June 2017, which accounts for 52.3 percent of all volume of the country’s trade turnover, said a report of Azerbaijan’s State Customs Committee July 10.

In January-June 2017, Italy ranked first in the list of Azerbaijan’s foreign trading partners with a trade turnover of $1.355 billion and a specific weight of 15.61 percent. Italy is followed by Turkey - $1.189 billion (13.71 percent), Russia – $951.32 million (10.96 percent), China – $675.91 million (7.79 percent) and Germany – $367.69 million (4.24 percent).

Italy remains leader for consumption of Azerbaijani goods. The country accounted for $1.22 billion (23.11 percent) of Azerbaijan’s total export volume.

Italy is followed by Turkey - $615.49 million (11.58 percent), China - $340.49 million (6.46 percent), Russia - $289.83 million (5.5 percent) and Portugal - $264.9 million (5.03 percent). The share of these countries in total export volume of Azerbaijan is 51.68 percent.

In January-June 2017, Azerbaijan imported goods worth $661.49 million (19.4 percent) from Russia. Russia ranked first for this indicator and was followed by Turkey - $574.24 million (16.84 percent), China - $335.42 million (9.84 percent), Germany - $170.64 million (5 percent) and Ukraine - $161.87 million (4.75 percent). The share of these countries in total import volume of Azerbaijan is 55.83 percent.

Azerbaijan’s foreign trade operations rose by 9.8 percent and amounted to $8.68 billion in January-June 2017, as compared to the same period of 2016. The surplus in the reporting period amounted to $1.86 billion, whereas in January-June 2016, a trade deficit of $184.55 million was recorded.