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Azerbaijan’s trade surplus revealed

Business Materials 12 March 2018 11:52 (UTC +04:00)

Baku, Azerbaijan, March 12

By Anvar Mammadov – Trend:

Azerbaijan exported goods worth $2.21 billion in January-February 2018 that is by 33.9 percent more than in the same period last year, according to a report of the country’s State Customs Committee.

The share of state sector in export totaled $2.03 billion, private sector – $173 million, individuals – $6.41 million.

Azerbaijan mainly exported oil and oil products, gas, fruits and vegetable, plastic and plastic products in January-February 2018.

TOP-5 goods exported by Azerbaijan at the total cost:

Items

January-February 2018

January-February 2017

Quantity

Cost (thousand dollars)

Quantity

Cost (thousand dollars)

Oil, thousand tons

3,648,802.68

1,827,303.52

3,400,474.38

1,387,383.29

Oil products, thousand tons

217,283.80

107,007.39

117,963.01

46,331.72

Natural gas, thousand cubic meters

205,048.95

29,428.88

326,719.63

39,393.75

Fruits and vegetables, thousand tons

57,273.12

58,418.59

38,072.03

38,718.27

Plastic and plastic products, thousand tons

29,791.67

23,927.39

35,434.51

23,679.23

During the period, import totaled $1.45 billion, which is 49.3 percent more than in January-February 2017. Some $303 million accounted for the state sector share in import operations, and $1.07 billion – for the private sector, $79.31 million – for individuals.

Azerbaijan mainly imported various machines, vehicles, ferrous metals, plastic and pharmaceuticals during the reporting period.

TOP-5 goods imported by Azerbaijan (total cost):

Items

January-February 2018

January-February 2017

Quantity

Cost (thousand dollars)

Quantity

Cost (thousand dollars)

Machines and mechanisms, electronic equipment, spare parts, thousand dollars

-

324,969.78

-

208,983.9

Ferrous metals and ferrous goods, thousand tons

151,369.59

197,288.75

102,289.92

101,657.86

Vehicles and spare parts, thousand dollars

-

146,883.62

-

42,399.86

Plastic and plastic products, thousand tons

24,842.97

47,495

19,414.88

35,944.9

Pharmaceuticals, thousand tons

2,081.64

44,990.04

1,732.81

25,132.79

Azerbaijan’s foreign trade operations increased by 39.2 percent and amounted to $3.66 billion in January-February 2018, as compared to January-February 2017. The surplus in the reporting period amounted to $758.92 million, which is 11.3 percent more than in the same period last year.

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