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Italy remains leader among Azerbaijan’s foreign trade partners

Business Materials 20 October 2017 13:32 (UTC +04:00)

Baku, Azerbaijan, Oct. 20

By Anvar Mammadov – Trend:

Azerbaijan’s trade turnover with five main trade partners reached 7.14 billion manats in January-September 2017, which accounts for 49.8 percent of all volume of the country’s trade turnover, said a report of Azerbaijan’s State Customs Committee Oct. 20.

In January-September 2017, Italy ranked first in the list of Azerbaijan’s foreign trading partners with a trade turnover of $2.04 billion and a specific weight of 14.24 percent. Italy is followed by Turkey - $1.96 billion (13.68 percent), Russia – $1.43 billion (10.02 percent), China – $1.03 billion (7.22 percent) and the US – $669.38 million (4.67 percent).

January-September 2017

January-September 2016

Country

Trade turnover (thousand manats)

Specific weight (%)

Trade turnover (thousand manats)

Specific weight (%)

Difference (%)

Italy

2,039,730.2

14.24

1,444,451.83

11.34

41.2

Turkey

1,958,603.55

13.68

1,672,956.19

13.13

17.1

Russia

1,434,317.61

10.02

1,347,122.1

10.57

6.5

China

1,034,611.69

7.22

641,394.67

5.03

61.5

US

669,378.48

4.67

416,198.75

3.27

60.8

Italy remains leader for consumption of Azerbaijani goods. The country accounted for $1.81 billion (22.21 percent) of Azerbaijan’s total export volume.

Italy is followed by Turkey - $1.06 billion (13.06 percent), China - $437.04 million (5.37 percent), Russia - $392.65 million (4.82 percent) and Israel - $375.28 million (4.61 percent). The share of these countries in total export volume of Azerbaijan is 50.07 percent.

In January-September 2017, Azerbaijan imported goods worth $1.04 billion (16.86 percent) from Russia. Russia ranked first for this indicator and was followed by Turkey - $895.03 million (14.49 percent), the US - $611.56 million (9.9 percent), China - $597.57 million (9.67 percent) and Ukraine - $316.3 million (5.12 percent). The share of these countries in total import volume of Azerbaijan is 56.04 percent.

In January-September of 2017, Azerbaijan exported goods worth $8.14 billion, which is 13.4 percent less than in the same period of 2016. In the reporting period, imports amounted to about $6.18 billion, which is 0.5 percent more than in January-September last year. The surplus in the reporting period amounted to $1.97 billion, which is 5.8 times more than in the same period last year.

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