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Italy remains leader among Azerbaijan’s foreign trade partners

Business Materials 15 January 2018 13:33 (UTC +04:00)

Baku, Azerbaijan, Jan. 15

By Anvar Mammadov – Trend:

Azerbaijan’s trade turnover with five main trade partners reached 11.7 billion manats in 2017, which accounts for 51.8 percent of all volume of the country’s trade turnover, said a report of Azerbaijan’s State Customs Committee Jan. 15.

In 2017, Italy ranked first in the list of Azerbaijan’s foreign trading partners with a trade turnover of $4.73 billion and a specific weight of 20.91 percent. Italy is followed by Turkey - $2.64 billion (11.68 percent), Russia – $2.14 billion (9.48 percent), China – $1.3 billion (5.75 percent) and Germany – $894.12 million (3.96 percent).

2017

2016

Country

Trade turnover (thousand manats)

Specific weight (%)

Trade turnover (thousand manats)

Specific weight (%)

Difference (%)

Italy

4,725,094.72

20.91

1,892,165.68

10.7

2.5 times

Turkey

2,640,046.16

11.68

2,314,398.39

13.09

14.3%

Russia

2,141,283.27

9.48

2,051,082.51

11.6

4.4%

China

1,298,334.66

5.75

975,421.32

5.52

33.1%

Germany

894,119.47

3.96

1,010,023.41

5.71

-11.5%

Italy remains leader for consumption of Azerbaijani goods. The country accounted for $4.41 billion (31.9 percent) of Azerbaijan’s total export volume.

Italy is followed by Turkey - $1.37 billion (9.89 percent), Israel - $638.94 million (4.63 percent), Russia - $587.03 million (4.25 percent) and Czech Republic - $556.85 million (4.03 percent). The share of these countries in total export volume of Azerbaijan is 54.7 percent.

In 2017, Azerbaijan imported goods worth $1.55 billion (17.7 percent) from Russia. Russia ranked first for this indicator and was followed by Turkey - $1.27 billion (14.5 percent), China - $854.53 million (9.73 percent), the US - $720.59 million (8.21 percent) and Ukraine - $459.91 million (5.24 percent). The share of these countries in total import volume of Azerbaijan is 55.38 percent.

In 2017, Azerbaijan exported goods worth $13.81 billion, which is 51.1 percent more than in 2016. In the reporting period, imports amounted to $8.78 billion, which is more than in 2016. The surplus in the reporting period amounted to $5.03 billion, which is 8.2 times more than in 2016.

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