Ranking of trade partners: Israel, Germany increase trade with Azerbaijan

Baku, Azerbaijan, Aug. 5

By Anvar Mammadov - Trend:

The trade turnover of Azerbaijan with the five main trade partners of the country reached $7.53 billion in January-July 2018, which accounted for 45.6 percent of the total trade turnover of the country, as appears from the report of the State Customs Committee (SCC).

During the reporting period, Italy became the largest trading partner of Azerbaijan with a trade turnover of $2.86 billion and a specific weight of 17.29 percent. It is followed by Turkey - $ 1.74 billion (10.53 percent), Russia – $ 1.3 billion (7.89 percent), Israel – $ 825.75 million (five percent) and Germany – $ 805.36 million (4.87 percent).

Comparative table of TOP 5 trading partners of Azerbaijan:

According to the results of the reporting period, Italy remained the main consumer of Azerbaijani products, as it accounts for $2.66 billion (24.79 percent) of all exports. It is followed by Turkey - $857,61 million (7.98 percent), Israel – $811,78 million (7.55 percent), India – $569,3 million (5.3 percent) and Taiwan – $509,71 million (4.74 percent). The share of these countries in Azerbaijan's total exports is 50.36 percent.

During the reporting period, Azerbaijan purchased most of products in Russia – $ 917.15 million (15.88 percent). It is followed by: Turkey - $881,85 million (15.27 percent) China – $586,38 million (10.15 percent), Germany – $384,3 million (6.65 percent) and the United States – $282,74 million (4.89 percent). The share of these countries in Azerbaijan's total imports is 52.84 percent.

In total, in the seven months of 2018, Azerbaijan's foreign trade operations increased by almost 57 percent compared to the same period in 2017, amounting to $16.52 billion. The positive balance in the reporting period was more than $4 billion, which is more than double the figure of the same period last year ($1.78 billion).