Five countries make over 50% of Azerbaijan’s turnover

Baku, Azerbaijan, Sept. 12

By Anvar Mammadov – Trend:

Azerbaijan’s trade turnover with five main trade partners reached 6.33 billion manats in January-August 2017, which accounts for 50.6 percent of all volume of the country’s trade turnover, said a report of Azerbaijan’s State Customs Committee Sept. 12.

In January-August 2017, Turkey ranked first in the list of Azerbaijan’s foreign trading partners with a trade turnover of $1.83 billion and a specific weight of 14.65 percent. Turkey is followed by Italy - $1.75 billion (13.99 percent), Russia – $1.29 billion (10.21 percent), China – $964.68 million (7.7 percent) and Germany – $512.76 million (4.09 percent).

Italy remains leader for consumption of Azerbaijani goods. The country accounted for $1.55 billion (21.42 percent) of Azerbaijan’s total export volume.

Italy is followed by Turkey - $1.03 billion (14.2 percent), China - $436.92 million (6.05 percent), Russia - $364.86 million (5.05 percent) and Georgia - $336.61 million (4.66 percent). The share of these countries in total export volume of Azerbaijan is 51.38 percent.

In January-August 2017, Azerbaijan imported goods worth $913.23 million (17.23 percent) from Russia. Russia ranked first for this indicator and was followed by Turkey - $808.37 million (15.25 percent), China - $527.76 million (9.96 percent), the US - $413.09 million (7.79 percent) and Germany - $246.53 million (4.65 percent). The share of these countries in total import volume of Azerbaijan is 54.88 percent.

Azerbaijan’s foreign trade operations decreased by 9.24 percent and amounted to $12.52 billion in January-August 2017, as compared to the same period of 2016. The surplus in the reporting period amounted to $1.92 billion, which is 7.7 times more than in January-August 2016.