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Israel triples trade turnover with Azerbaijan - ranking

Business Materials 13 July 2018 14:37 (UTC +04:00)

Baku, Azerbaijan, July 13

By Anvar Mammadov – Trend

Azerbaijan’s trade turnover with five main trade partners reached $6.01 billion in January-June 2018.

The figure accounts for 45.1 percent of all volume of the country’s trade turnover, says a report of Azerbaijan’s State Customs Committee.

In January-June 2018, Italy ranked first in the list of Azerbaijan’s foreign trading partners with a trade turnover of $2.07 billion and a specific weight of 15.52 percent. Italy is followed by Turkey - $1.41 billion (10.61 percent), Russia - $1.14 billion (8.54 percent), Israel - $723.01 million (5.43 percent) and Germany - $665.05 million (4.99 percent).

TOP-5 trading partners of Azerbaijan:

Countries

January –June 2018

January –June 2017

Difference

Trade turnover (manats)

Specific weight (%)

Trade turnover (manats)

Specific weight (%)

Italy

2,067,966.07

15.52

1,355,120.13

15.61

52.6%

Turkey

1,413,835.23

10.61

1,189,728.04

13.71

18.8%

Russia

1,137,448.4

8.54

951,320.26

10.96

19.6%

Israel

723,008.41

5.43

228,945.33

2.64

3.2 times

Germany

665,048

4.99

367,694.66

4.24

80.9%

Italy remains leader for consumption of Azerbaijani goods. The country accounted for $1.91 billion (22.03 percent) of Azerbaijan’s total export volume.

Italy is followed by Israel - $710.17 million (8.2 percent), Turkey- $652.45 million (7.53 percent), Taiwan- $509.71 million (5.88 percent) and Indonesia - $462.6 million (5.34 percent). The share of these countries in total export volume of Azerbaijan is 48.98 percent.

During the reporting period, Azerbaijan purchased the largest amount of products in Russia - $788.21 million (16.91 percent). Then follows Turkey - $761.39 million (16.34 percent), China - $483.3 million (10.37 percent), Germany - $339.35 million (7.28 percent) and the US - $221.42 million (4.75 percent). The share of these countries in the total volume of Azerbaijan's imports is 55.65 percent.

In January-June this year, Azerbaijan’s trade with other countries amounted to $13.32 billion. The surplus in the reporting period amounted to more than $4 billion.

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Follow the author on Twitter: @Anvar_Mammadov

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